CA - Enbridge: Preferred Shares Most Resilient In Bond Bear Market

2024-05-19 18:00:00 ET

Summary

• We had last given Enbridge a Strong Buy rating as flawless execution offset the hefty acquisition risks.
• We look at the Q1-2024 results in light of the price action and update our thesis.
• We also review two high yielding Enbridge preferred shares that trade in US Dollars.

We upgraded Enbridge Inc. (NYSE: ENB , TSX: ENB:CA ) from a buy to a strong buy when we wrote on it earlier this year. This upgrade was based on our review of the Q4 numbers. Fantastic execution of a recent purchase, a good standing with the credit agencies and a blowout guidance for 2024 played into our reasoning for the upgrade. The selling after the initial euphoria made sense in this bubble stock era, and it only helped in making ENB a better value buy....

For further details see: