ENB - Why I Can't Stop Buying Shares of This Magnificent High-Yield Dividend Stock in My Retirement Account
2024-04-21 05:32:00 ET
I'm self-employed, so I hold my retirement destiny in my own hands. That's led me to take a very well-thought-out approach to my retirement accounts. I seek out investments that I believe have a very high probability of delivering above-average total returns over the long term, which should enable me to retire comfortably in the future .
Canadian energy infrastructure giant Enbridge (NYSE: ENB) has everything I seek in a retirement-focused investment. It operates a low-risk business, pays an attractive dividend, and has highly visible growth prospects. Those are some of the many reasons why I can't stop buying shares in my retirement account.
Enbridge operates a diversified portfolio of pipeline and utility businesses. Roughly 98% of the company's earnings come from cost-of-service agreements or long-term contracts with very creditworthy customers (more than 95% have investment-grade credit ratings). Enbridge thus produces very durable and predictable cash flow:
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Why I Can't Stop Buying Shares of This Magnificent High-Yield Dividend Stock in My Retirement Account