Enbridge

ENB-T

Does it matter if you buy it on the Canadian or US dollars? - The price is the same and if the currency moves is a wash. It is simple for your taxes to buy it in CAD if you are Canadian resident. The need fro the pipelines is there. Has a lot of debt. You make 6% dividend and 5% - 10% appreciation. A decent play with not a lot of risk.

He really likes it. He created ENS-T, which is a leveraged version of ENB-T. It is his biggest holding. In a recession it should not be as volatile as it was in past recessions.

It's a hold. Interest rate sensitives have done well. Line 3 pushed back is an issue. Dividend may need to be cut back a bit. Existing pipelines have become more valuable. Moving from fee-based to take or pay, so this increases value for shareholders.

(A Top Pick Apr 26/18, Up 40%) He liked the 7.5% yield at the time. He continues to hold it and sees further runway ahead. Yield 6%

She likes it. Dividend is under 6% and it will continue to grow. They bought Spectra to expand their presence to America and into natural gas, but they took on debt. So they issued various equity and sold non-core assets and streamlined their corporate structure. Their line 3 was approved last year, but has since been delayed to end-2020. This would double their capacity in western Canada. Their debt and balance sheet are much better now.

They move 62% of Canadian crude into the U.S. and 20% of all natural gas. It has a wide, strong moat. Line 3 will be operating in the near future, though it is delayed. It's cyclical, though, so not for the faint of heart. Has a strong, underlying business. They've done $6 billion in funding moves to support the dividend.

Enbridge vs. TC Energy. He'd own TC Energy. They'll both move the same amount. He's shy of Enbridge because their growth strategy was based on something that didn't exist, always issuing equity and hiking dividends. Doesn't like Enbridge.

They've grown a lot of acquisition in the past 10 years. The last one was synergistic, but ENB took on too much debt, so they've had to divest some operations. Share price is stagnant, though the dividend continues to grow. After two years of deleveraging--and building the Minnesota pipeline--ENB will be in much better shape. So, buy it now.

ENB has cleaned up its act, getting rid of some assets, cancelled their DRIP and their valuation is still compelling. Various things have lined up now to propel ENB forward. You can hold this for 25 years and do well. ENB is the best in this sector.

He likes it. Line 3 seems to be a never ending thing. He is still modeling 7% growth. Trading cheap enough still. Q4 was a beat. What could hurt here: if bond yields back up.

ENB-T or TRP-T? He owns both pipelines. Today, he would favour TRP-T. He has also been watching PPL-T as well. The space has always been a good investment.

They sold some assets last year and cleaned up the corporate structure. The big question is what happens to line 3. Till we see clarity, this will tread water. Then, the stock will rise. But if approval doesn't come, this will fall back to $40. He's nervously holding on.

It was a darling of the market 5 years ago, but is now having a tough time as people don't like pipelines. Their valuation is now reasonable (it was inflated 5 years ago) though, and it pays a decent 5.9% dividend. It's a safe, steady grower.

He was previously bearish on the name. He does not expect significant price appreciation. The dividend is good. He does not feel the recent share price increase is based on positive actions by management, but rather due to interest rate increases slowing. This is really a yield play.

$46.84 is his target. Earnings have risen, but its payout ratio is high. Buy at $39 as in December.