#2 - Enbridge (NYSE:ENB)
The energy sector is a good place to look for high-yield dividend stocks. However, it’s important to be selective. Enbridge Inc. (NYSE: ENB) is a name that stands out for its dividend and it’s also a good cyclical play for the changes happening in the world economy.
Enbridge operates a network of energy infrastructure assets, like pipelines. And the business model is one of a toll collector. The company gets paid a fixed amount that’s not impacted by the price of oil or the underlying commodity.
The emerging need for data centers between now and 2030 is expected to drive continued demand for natural gas, which will benefit companies like Enbridge. However, in addition to transporting oil and natural gas, Enbridge has notable investments in wind, solar, and geothermal projects.
As of this writing, ENB stock had a dividend yield of 6.29%, which is more than double the growth rate of inflation as measured by the February CPI number.
About Enbridge
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
More about Enbridge- Current Price
- $42.64
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $67.00 (57.1% Upside)
