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Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-03-15 C$ 41.06
Market Cap C$ 69,596,701,725
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Globe says managers mixed on Enbridge's outlook

2018-03-16 06:34 ET - In the News

The Globe and Mail reports in its Friday edition that Enbridge's beaten-down stock is seen by some as a buying opportunity. The Globe's Brenda Bouw writes that Enbridge's steadily rising dividend, which is now yielding about 6.5 per cent, is offering a temptation for investors. Guardian Capital manager Michele Robitaile has been adding Enbridge, based in part on its underperformance relative to other companies in the energy infrastructure group. That is despite concerns about the company's debt load in a rising interest rate environment. She says, "We think [Enbridge] represents good value and we do think they have a very sizable portfolio of very sellable, high-quality, high-value assets and so we don't see as much of a funding issue." Agilith Capital manager Patrick Horan has been short Enbridge since 2016, citing the company's debt load in a rising interest rate environment and growth in dividends per share that has outpaced earnings in recent years. He even goes so far as to suggest the company could go bankrupt if it does not get its balance sheet under control. Portfolio Management manager Anish Chopra says his firm has held Enbridge for a number of years and is still buying it for new client accounts.

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