Enbridge Income Fund HoldingsENF.TOTOP PICKDec 11, 2017Stock price when the opinion was issued
As of Nov 10, 2018. Market Open.
Enbridge wants to buy ENF to simplify their corporate structure. In the States, Enbridge offered a small premium, while in Canada, they offered a premium. He suspects the directors of ENF-T are waiting for a higher premium (or that's what he would do). Pays a higher yield than Enbridge Inc. but lacks the dividend growth potential.
Enbridge (ENB-T) rolls a portion of their Canadian assets into this and pay out the depreciation giving a nice yield. He accumulates this when it is in the $27-$28 range. Believes they will grow the dividend 10%. Dividend yield of 7.03%. (Analysts’ Price Target is $34.)