The Investment Reporter, in its March 6, 2015, issue, refreshes its buy of Enbridge Inc., recently $61.82. The Reporter said buy 23 times from Nov. 15, 1995, to Jan. 9, 2015, at prices ranging from $30.30 to $65.50 (the stock split 2 for 1 three times -- Oct. 13, 1998, May 6, 1999, and May 18, 2005). Assuming an investment of $1,000 for each of the 23 buys, the $23,000 position would now be worth $84,878. In 2014, the pipeline company that every enviro loves to hate earned an adjusted $1.57-billion, or $1.90 a share, up from an adjusted $1.43-billion, or $1.78 a share, the year before. Enbridge placed $10-billion of capital projects into service in 2014 and expects to complete another $9-billion of projects in 2015. This should raise adjusted earnings per share and, subsequently, dividends, since the company now plans to pay dividends of 75 to 85 per cent of its adjusted earnings per share. Enbridge has a high net-debt-to-cash-flow ratio of 8.1, far above the newsletter's comfort zone of two or less. In 2015, the company expects to earn $2.05 to $2.35 a share. It pays an annual $1.86-a-share dividend, which is a 3-per-cent yield. The stock remains a buy for long-term gains and high and rising dividends.