Enbridge Income Fund Holdings (ENF.TO)

Had owned this at one time. It is probably worth some consideration at this point.

What was bad that in Q2 they stumbled a little from all the fires, but they are recovering. He sees real nice growth here, and is modelling 10% growth being brought down from the parent, each and every year over the next couple of years. The nice thing is that it is really cheap relative to its peers. Trading at around 13.1X 2017 estimates versus others at around 21 or 22. This is a good one.

(Market Call Minute.) Relatively stable assets. He thinks you could see the parent, Enbridge, drop more renewable assets into it, which gives you a nice growth trajectory.

A spinoff from ENB-T. They have some very stable pipeline assets in Alberta. Not great growth but a little bit. ENB-T still controls 78-80% of it. He always likes to own the parent in this situation.

An income fund where Enbridge (ENB-T) trades down certain good, safe assets into the fund. This is a safe, almost a quasi preferred entry into Enbridge. It is not considered to be a high-performance stock. He is not enthused about the major pipelines in Canada, because of all the flack that they are running into. This is a way to get a higher yield of good assets in the pipeline area.

(Market Call Minute) Stable, no problems; the yield is not going to go away, but not a lot of growth going forward.

When Enbridge (ENB-T) has a mature project, they push it over to this, and then it becomes an income vehicle. Pays a very high dividend. In terms of visibility, they put more projects on so it is trading at a very reasonable multiple. They can easily pay the dividend, which is close to 6% now. They expect 10% plus increases per year going into 2019. If you take the current price and go into 2019, that is going to be a yield of close to 8%. A solid underlying company, but there will be some volatility.

He sees a 9% EPS growth from Enbridge (ENB-T) drop downs over the next couple of years, and a 10% annual dividend growth each and every year for the next couple of years. This is cheap relative to its peers. Maybe you don’t want to Buy it here. If so, you can sell a Put to end up owning it at a lower price. Dividend yield of 5.85%.

(A Top Pick June 26/15. Down 2.09%.) Had really bought this for income. It is a vehicle that Enbridge (ENB-T) rolls assets down into. Pays a very nice dividend. The quality on this is great.

It is a reasonability positive looking stock. There is a possibility that it has not broken out and will try again. If it breaks out for a few days above $31 then it could be a good time to buy.

A pretty good stock for yield. Their primary assets are the mainline that Enbridge (ENB-T) drops down to them. Yields about 6%. Thinks the dividend is safe and you can probably expect an increase as well.

The dividend is very stable. Expects that they will continue to get more assets from their parent Enbridge (ENB-T) which could lead to a possible equity overhang. He would always have a concern whether Enbridge would opportunistically take the income fund back in. Because of this, he prefers owning the parent. Dividend yield of 6.7%.

The high dividend is safe. It is unlikely that ENF-T will have to raise equity here to fund their needs. There will not be much AFFO growth, however. There are more exciting places to be.

(Market Call Minute.) Prefers Enbridge Ltd (ENB-T) which has better growth, but if you have it, continue to Hold.

He has not looked at it. It is in a longer term downtrend. He would be comfortable with having something like this in his portfolio. There should be long term support at present levels.