Stock price when the opinion was issued
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.
She owns the parent of Enbridge, instead. The overhang is final approval from Minnesota for Enbridge's U.S.-Canada pipeline; this approval should come by June. Management is confident that the approval will come, which could lift this stock. A plus: fears of interest rate hikes and their effect on interest-sensitive stocks have moderated since the winter. Overall, we need pipelines out west and the Trans Mountain outcome will be important.