Enbridge Income Fund HoldingsENF.TOTOP PICKJan 19, 2018Stock 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.
This has been trading for some years between its BV and about 80% of Book. Nice FMV and nice upside potential. Historically cheap, and doesn't think there is a big risk in it. Dividend yield of 7.8%. (Analysts' price target is $33.)