Enbridge Stock – 1 Top TSX Energy Stock to Buy Today
Here’s why Enbridge Inc. (TSX:ENB)(NYSE:ENB) remains atop my list of long-term TSX winners today. The post 1 Top TSX Energy Stock to Buy Today appeared first…
Enbridge (TSX:ENB)(NYSE:ENB) has been one of my top picks in the energy sector for quite some time.
For investors who are looking to add defensiveness and income to their portfolio, there’s hardly a better option right now. Indeed, this stock is an excellent option for those who are approaching or in retirement. Here’s why I believe Enbridge remains a top buy for investors as of today.
Enbridge’s dividend yield provides stable, long-term total returns
Canadian investors have long considered Enbridge as a core portfolio holding for various reasons. Of these, Enbridge has been viewed as a long-term growth play on the ability of the company to expand its portfolio of pipeline assets.
Well, the Biden administration has poured some ice-cold water on that growth catalyst of late.
Most investors and analysts have come to the realization that growth via massive infrastructure spending in the pipeline space will be a headwind for growth over the long term. Accordingly, I would argue that the investment dynamic of Enbridge has changed somewhat in recent years.
Indeed, Enbridge stock is now viewed as an income play more than ever. With a dividend yield of 7.2% at the time of writing, that makes sense. This high-yielding energy…
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