Enbridge (ENB-T)

They transport 3 million barrels of oil from Canada into the US each day, a major reason why North America is self-sufficient. It pays a 6.3% yield. ENB is big beneficiary of Trump's oil/has de-regulation. They won't be hit by tariffs, because they don't produce or market oil, but transports it. 

Prefers TRP. Still, a mighty solid company and second-best of this peer group. This pullback is buyable. Yield is ~6.3%, growing at about a 3% over last 5 years (significant slowdown from a decade ago). Good line of sight to high single-digit total shareholder return. 

Not particularly cyclical or prone to fluctuating commodity prices; 90+% of business is rate-regulated and take-or-pay. Slowly greening the company.

The challenge with pipelines is they have run up recently and that has ended. Technical support is $50-55, so there's more downside to come. The federal election could change things.

The challenge with pipelines is they have run up recently and that has ended. Technical support is $50-55, so there's more downside to come. The federal election could change things.

It has been a very good year so far but people are worried about tariffs and unpredictability. However pipelines are safer with regard to tariffs. Pipelines find it difficult to do business in Canada with limited growth due to regulations but they do better in the U.S.

This is her pick today for income. Operates largest liquids pipeline around the world. Transports 30% of crude oil produced in NA. Nat gas pipeline transports 20% of what's consumed in US. Purchased 3 nat gas utilities, regulated and defensive cashflow stream. Solid backlog of growth projects. She'd buy here with the pullback. Yield is 6.3%; dividend increased for 30 consecutive years.

A long-time holding and owns a lot of shares. The recent downturn is a result of the short-term traders after earnings. This is one to buy and hold long term, as you collect the dividend. They're unaffected by the price of oil and make their money like a toll as they transport oil.

The mid-streamers should be less sensitive to tariffs - pipelines make money on tolls and service fees. The dividend yield is 6%. It could be range- bound for a while since its valuation is quite high.

Loves the business model. Steady eddy, dependable. Wonderful company for those looking for income. On the face of it tariffs won't affect it, as these are take-or-pay contracts. Essential as the largest oil pipeline in Canada, but one concern is potential company-specific retribution; Line 5, for example, still generates hostility. High valuation, wait for a pullback. 

It enjoys little competition. If you sold the February $62 calls (now $64.60), so if you do nothing between now and Friday, you will get called away. So, you can roll that option: buy back the call that you're short, then sell a new call further into the future to replace it. So, pay $2.65, then roll it out to May, sell the $62 again, and collect $3.15.

Mid-streamers are less sensitive to US tariffs. Pipelines make money on their tolls, a service fee which faces less impact. Their 6% dividend is attractive, but their PE has returned above 20x. Shares could be rangebound or down in the near term.

Owns a serious position. Happy that shares have returned to all-time highs after capital projects are now online as they raised the dividend. The only potential impact of tariffs would be spot volumes on the mainline flowing into the US. Would be minor pain. And we don't know how long tariffs will last. Cooler heads will prevails, especially in energy which are so integrated between Canada and the US.

Pipelines are working. A place to hide if he's correct about where we are in the cycle, especially in terms of inflation. As for tariffs, they just raise the price level and the consumer ultimately pays it. Chart looks awesome, let it run and collect your dividend.

Only hiccup on the horizon, if crude and nat gas start to pick up, might see portfolio managers rotate out of pipelines and into more aggressive names.

Does not own shares. Balance sheet includes a lot of debt - which is a concern. 2% debt is going to renew at 6% soon - very concerning. Also unsure how tariffs will impact the company. Too many unknowns to justify investment at this time.