ENB - Enbridge: Buying More Of This 7%-Yielding Aristocrat For My Portfolio
2024-05-13 11:00:00 ET
Summary
- In March, I started a position in Enbridge. As this year progresses, I anticipate adding to that stake.
- The midstream behemoth shared exceptional first-quarter results and a deep pipeline of projects should keep the momentum going in future quarters.
- Even without considering the proceeds from its Alliance and Aux Sable sales, debt to EBITDA was squarely within Enbridge's targeted leverage range.
- The company's shares could be 8% undervalued.
- Enbridge has a viable path to deliver low-double-digit annual total returns for the foreseeable future.
One of my favorite sayings is that money is freedom. I take a nuanced approach to this mantra, however.
Although it is helpful, money can't provide freedom in the literal sense in every aspect of life. Allow me to expand on what I mean....
Enbridge: Buying More Of This 7%-Yielding Aristocrat For My Portfolio