Recent Purchase

Good Morning and happy long weekend to my fellow Canadian’s! We decided to stay away from the cottage scene this weekend due to the flies. We will be going to wonderland today (amusement park) and hopefully get all my gardens mulched and pool all up. I’m looking forward to it.

long weekend

Reverse Trump

This week the market experienced a reverse Trump effect. Basically from what I understand he came out and admitted he lied about some political stuff. Great move………. Clearly all presidents and prime ministers lie, or avoid the topic/question all together. They never come straight out and admit it. Politics always drive me nuts.

Client Relationships

Sometimes when I’m working at my clients houses they are freaking out about the market crashing when it does. I have honestly thought they were going to have a heart attack. Since my portfolio is not massive YET the pullback didn’t affect me much, it went down $470 over those 2 days. I’m sure if you had a multi million dollar portfolio though it would be a different story.

The client I was working at, and I always talk about stocks/ finances. He used to be the president of a bank back in the day, so he has some connections and knowledge. Every couple hours he would come out to tell me the markets down x points haha. He was interested in buying some Canadian banks. I mentioned I was really close to purchasing more Enbridge. He told me he was also watching them as they pulled back almost 8 -10%.

recent purchase

Recent Purchase

That was enough of a vote of confidence I needed. At lunch I purchased 50 more shares of Enbridge at 52.86 per share. Representing a 4.6% yield at time of buy. Unfortunately I made the buy a couple days after the X dividend date, but at that pullback its worth it. I currently have 87 shares of them and at the current price I can drip a stock each quarter. I wish I spend a little more time with the math though and bought a couple more stocks to ensure the drip.  Right now its dividend is estimated to bring in like $53-54 per quarter, so its going to be tight. This purchase adds $122 in forward dividends.

About Enbridge Inc.

Enbridge Inc., a Canadian company, exists to fuel people’s quality of life, and has done so for more than 65 years. A North American leader in delivering energy, Enbridge has been ranked on the Global 100 Most Sustainable Corporations index for the past seven years. Enbridge operates the world’s longest crude oil and liquids transportation system across Canada and the U.S., and has a significant and growing involvement in natural gas gathering, transmission and midstream business, as well as an increasing involvement in power transmission. They own and operate Canada’s largest natural gas distribution company, serving residential, commercial, and industrial customers in Ontario, Quebec, New Brunswick and New York State. Enbridge has interests in more than 2,200 megawatts of net renewable and alternative generating capacity, and continues to expand into wind, solar and geothermal power. Enbridge employs approximately 10,000 people, primarily in Canada and the U.S., and has been ranked 15 times on the annual Canada’s Top 100 Employers list, including the 2017 index. Enbridge’s common shares trade on the Toronto and New York stock exchanges under the symbol ENB.



Conclusion

Enbridge is definitely one of my favorite stocks I own. The spectra merger just diversifies them even more and with 48 billion in projects on the go they expect to increase their dividend 10-12% per yr till 2024. I also really like how they are starting to acquire some renewable energy as well. They are one of Canada’s best dividend growth stocks. If things keep going the way they are with Enbridge this won’t be my last purchase of them.

I know I should be buying more US exposure but when one of your best stocks dips, back the car up. Did you make any purchases in those 2 days? Have a fantastic weekend!

Cheers

You may also like...

24 Responses

  1. John R says:

    Happy Victoria Day weekend to you also.

    Congrats on your ENB purchase. Did you buy this for ‘just the dividend’ or dividend + any upside?

    What are you expecting from ENB in terms of total ROI over the next couple years

    Have you ever considered selling an ‘option contract’, say a covered call ‘out of the money’ on your ENB?

    https://www.m-x.ca/nego_cotes_en.php?symbol=ENB*

    • hey John thanks. Definately for the dividend and more. This company seems like a powerhouse firing on all cylinders and diversifying into places I feel are the place to be. (renewables and natural gas)
      Like I have said I don’t know much about options and at the moment have so much going on. Will look into it sometime. I think options would be great to get into but before i try them i got to read a tonne about it.
      cheers

  2. John R says:

    Purely for interest only as an ‘out of the blue’ weekend read & research ‘split share corp’

    http://www.quadravest.com/bk-fund-features

    if not, why not?

  3. Chris says:

    Good purchase! I missed out on the dip, I’m waiting to see if it will dip again below 53$ to add to my exposure. There isn’t many stocks in this environment of uncertainty who will pay a 4.6% yield with projected Div growth of 10%. You can also count on them to maintain their dividend in the event of a market crash, thats gold. You should look into Altagas, I strongly believe they are replicating ENB growth path

    • Hey Chris thanks.

      I have thought of adding to my position in altagas as well but don’t wanna be to heavy in energy. I think enbridge is definally a better buy. Doesn’t altagas have a way higher payout ratio tho?

  4. dividendgeek says:

    I am thinking of getting MSCI Canada ETF. Seems like Canadian economy is quite resilient. I can use it as a defensive stock. What do you think?
    dividendgeek recently posted…New homeMy Profile

    • Hey geek I’ll be honest I dont know much about etfs. And don’t even know that etf at all. Will look into it. Canada is pretty resilient but with the current housing situation things could change. I definally dunno if canada would be a defensive stock etf kinda country. Why not convert those us dollars to canadian and buy some canadian defensive stocks. Then your making almost 30% on the conversion.

      • dividendgeek says:

        It’s historical. I am quite averse to owning individual stocks. I prefer owning ETFs & mutual funds. When commodities pick up Canadian stock market will pop 🙂

        I have been thinking about converting to CAD$, have not done it yet.

  5. PCI –

    Solid purchase, solid yield and in an industry that is always going to be “fueled” haha, get it?

    -Lanny

  6. Leo T. Ly says:

    Enbridge is a great company. When the market tanked at the beginning of last year, I bought a couple hundred shares in the low 40s price range. That was a great opportunity. I wish I had bought more.

    This year I am hoping to increase my holding but I did not want to buy it for more that 50 per share. I sold three naked put options with a strike price of $50 and collected about $2 per share in premium. If Enbridge falls below $50 per share, I am more than happy to buy it.
    Leo T. Ly recently posted…26 Money Mistakes To AvoidMy Profile

  7. Sounds like a great pick up and perfect time to buy on the dip. Don’t worry about missing the ex-dividend date. I just did that myself recently. It’s more important to buy quality stocks at good value. Their dividends will kick eventually and you will reap them for the long term.
    Dividend Daze recently posted…11 Frugal Habits Of The Super RichMy Profile

  8. I love buying on the dip. Especially when it’s my favorite stocks 🙂 There has been a ton of pull back in the utility sector so I am watching closely to see what makes since for my portfolio!!! Still haven’t pulled the trigger but I’m getting closer.
    Mustard Seed Money recently posted…The Upside of MovingMy Profile

  9. Congrats on buying the dip and adding to one of your favorite positions. There isn’t much to dislike about this purchase!

    Bert

  10. The U.S. stock market has a long term bullish bias, which is why despite the ongoing Trump-Russia investigation, the market keeps going up.
    I don’t think that Trump colluded with Russia. If there was clear evidence of collusion, the FBI would have found the smoking gun a long time ago. However, I do think Trump has some gray areas that he wants to cover up (maybe something to do with his business?).
    Troy @ Market History recently posted…Are initial claims too low? What does this mean for the economy and stock market?My Profile

  11. WL says:

    Although the yield doesn’t sound too spectacular, you’re definitely in cheering mode because of the purchase! I’ve also experienced the trump-le, especially now the USD is drifting off again! Cheers.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge

%d bloggers like this: