The current market offers few opportunities as lucrative as investing in a well-known energy industry player, Enbridge (TSX:ENB). There are several reasons why investors should consider buying Enbridge stock at this time.
Firstly, Enbridge is renowned for its stable pipeline business, which is the largest and most complex pipeline system globally, transporting a significant portion of North American-produced crude and natural gas. This makes Enbridge a defensive option for long-term portfolio management.
In addition to its pipeline business, Enbridge has a growing renewable energy segment, having invested over $10 billion in renewable energy over the past two decades. With approximately 40 facilities across North America and Europe, Enbridge’s renewable energy operations generate reliable revenue through long-term regulated contracts, supporting the company’s growth and dividend payments.
Enbridge also operates the largest natural gas utility in North America, serving over 6 million customers across the U.S. and Canada. The company has made strategic acquisitions to bolster its utility operations, contributing to its defensive and growing nature.
Moreover, Enbridge offers a high quarterly dividend yield of 7.5%, making it one of the market’s highest-paying options. With a history of consistently increasing dividends over three decades, Enbridge provides the opportunity for investors to reinvest dividends for future growth.
Enbridge presents a compelling opportunity for both growth and income-focused investors, with a strong track record of dividend growth and stable business operations. Consider adding Enbridge stock to a well-diversified portfolio for long-term growth and income potential.
