03:33:02 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-08-04 C$ 53.81
Market Cap C$ 50,001,743,183
Recent Sedar Documents

Globe's Pape recommends buying Enbridge

2016-08-04 08:25 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 4, edition that as interest rates drift lower, yield-hungry investors have been scrambling for cash flow. The Globe's Gordon Pape writes that the stock market is about the only place to find it, which means taking on risk that may be beyond many people's comfort level. Mr. Pape recommends focusing on companies with the potential to increase dividends/distributions on a regular basis, not on those with the highest current yield. Mr. Pape recommends buying Enbridge ($53.01). He notes Enbridge has a long history of annual dividend increases but it has recently stepped up the pace. He says the 2015 increase was an eye-popping 33 per cent, to $1.86 a share annually. The company followed that up with a 14-per-cent boost at the start of 2016, to $2.12 a share. Management has set a target of annual divided growth of between 14 per cent and 16 per cent a share through 2019. Enbridge's current yield stands at 4 per cent. Credit Suisse analyst Andrew Kuske rated Enbridge "neutral" in The Globe on March 9. The shares were then worth $49.87. First Avenue manager Kash Pashootan said buy Enbridge in The Globe on June 6. The shares could then be had for $53.13.

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