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Enbridge: Why I Am Buying More Of This Undervalued Dividend Growth Stock With A 5.7% Yield

Published Wed, 29 Aug 2018 16:01:42 -0400 on Seeking Alpha

About Enbridge Enbridge (ENB), based in Calgary, Canada is the operator of the longest network of crude oil and liquids in North America. With operations spanning North America and Europe, Enbridge and its recently acquired Spectra Energy assets are a world class system of energy gathering, processing, storage and transportation infrastructure. In addition to liquids and crude infrastructure, Enbridge has a growing portfolio of power transmission, generation and renewable assets. Enbridge accounts for a massive 70% of Canada’s pipeline takeaway capacity giving it a dominant position in the market. This de facto utility is a source of stable and growing cash flow underpinned by long term shipping contracts.

Source:CAPP Crude Oil Forecast 2018
Enbridge stock has struggled over the last year as it deals with the challenges of: digesting the Spectra Energy merger, deals with regulatory headwinds, rising interest rates and high debt levels. With the recent approval of Enbridge’s preferred route for the Line 3 project, coupled with progress on corporate reorganization and accelerated deleveraging, Enbridge stock has rebounded significantly over the last quarter. Enbridge management is doing all the right things to regain investor confidence and get this stock back on track. Positive Q2 results and successful strategy execution will serve as catalysts for this stock to complete its turnaround.
Second Quarter Results and Valuation In an analyst note from August... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
ENBRIDGE ENERGY MANAGEMENT 10.51   0.0 0.00 0.00 13.65
ENBRIDGE ENERGY PARTNERS LP 10.79   21.6 0.50 1.40 13.35
KINDER MORGAN 20.42   20.6 0.99 1.00 4.94
SPECTRA ENERGY PARTNERS LP 35.40   0.0 0.00 0.00 0.00