ENB - Enbridge: 3 Factors That Triggered Rating Upgrade
2024-03-11 05:11:35 ET
Summary
- Before Enbridge circulated its Q4 figures, I issued an article on ENB and Enterprise Products Partners comparing the two businesses.
- I favored more EPD due to lower multiple and, most importantly, higher certainty when it comes to the underlying leverage.
- Looking at how ENB has managed to de-risk its balance sheet even further and also considering the success of capital recycling, my concerns about elevated leverage have faded.
- The notion of the conservative balance sheet, improving business profile, and growing EBITDA render Enbridge a clear buy.
Earlier this year, I wrote an article comparing Enbridge ( ENB ) with a closely related peer, Enterprise Products Partners (NYSE: EPD )....
Enbridge: 3 Factors That Triggered Rating Upgrade