ENB:CC - 7% Yielding Blue Chips I've Been Buying Hand Over Fist

2024-06-28 07:00:00 ET

Summary

• In June, I aggressively bought three of my top high yield blue-chip ideas, tripling my share count in some of these companies.
• With an average yield of 7%, growing 10% per year, being 19% undervalued, and having 32% upside potential in the next year, BTI, ENB, and BAM offer incredible short-and long-term opportunities.
• Enbridge's Line 5 concerns are way overblown, and its yield is at historical extremes that generate 13% long-term total return guidance from management.
• British American is on track to succeed in its smoke-free transition, and $3.2 billion in buybacks through 2026 are one of just many tailwinds.
• Brookfield Asset Management naturally cycles between periods of flat returns followed by explosive growth, with 30% to 50% annual returns powered by explosive growth in fees. Its current flat year is Brookfield coiling its spring for the next big push higher.

I'm excited to tell you about three of my favorite high yield blue-chip ideas, which I've been buying hand over fist recently.

I've tripled my share count in June alone in some of these companies.

Let me share with you the reasons that I believe now is the time to buy British American ( BTI ), Enbridge ( ENB ), and Brookfield Asset Management ( BAM ) before Wall Street catches onto their incredible short and long-term investment opportunities.

Three blue chips yielding an average of 7%, growing almost 10% per year, which are 19% undervalued, and whose fundamentals justify a 32% upside in the next year.

Why I'm Buying Enbridge With Both Hands

• Enbridge: A 7.5% Yielding Buy And Hold Forever Dividend Aristocrat

Enbridge is the ultimate buy-and-hold forever midstream, the most utility-like name in the industry.

Enbridge has sold off in recent weeks, pushing the yield to historical extremes after suffering a six-day losing streak .

Enbridge's peak yield of 8.1% in October 2022 was reached when interest rates were soaring, and some economists estimated that the Fed would have to hike rates as high as 7%....

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