Enbridge Inc., a multinational pipeline and energy company, stands out as a safe haven for dividend investors with its high yield of 5.86%. The company’s strong financials, steady cash flow, and long-term growth visibility make it an attractive option for those seeking stable returns.
As one of the largest natural gas distributors in North America, Enbridge Inc. has emerged from its recent acquisition of three utilities from Dominion Energy with a solid position to capitalize on growing demand, particularly from tech companies building gas-powered facilities to support energy-intensive AI data centers.
In 2024, Enbridge Inc. posted adjusted earnings of $6.04 billion, up from $5.74 billion in the prior year, and generated $12.6 billion in operating cash flow. The company’s distributable cash flow rose 6% year-over-year, climbing to $12.0 billion from $11.3 billion.
Enbridge Inc.’s commitment to dividend growth is evident, with a 30 consecutive year record of increasing payouts. This steady track record of dividend growth makes it an attractive option for investors seeking a reliable source of income.
With a current dividend yield of 5.86%, Enbridge Inc. ranks sixth on Insider Monkey’s list of safe dividend stocks with yields over 5%. While the company is not without its potential, investors may find more promising options in other deeply undervalued dividend stocks that grow their earnings at double-digit rates annually.
For those seeking a stable investment, Enbridge Inc.’s solid financials and long-term growth prospects make it an attractive option. However, investors should always conduct thorough research and consider multiple factors before making any investment decisions.
Source: https://finance.yahoo.com/news/enbridge-inc-enb-among-safe-142024657.html