Enbridge – Me love you long time.

Good evening.

Thanks Leo!

Well I mentioned in my previous post that I was going to keep an eye on a couple stocks for a nice dip to pounce on and make a buy. My boy Leo posted on my comments that Enbridge was under 50$ the other day. At first I didn’t believe him since I was on break checking my website. A couple clicks later and yeah he was right, My favorite company was now under 50$.

Naturally I got really excited, but the wife wasn’t around to help me out =)

So I did the 2nd best thing. I backed the truck up. At that price $49.82 it now offered a 4.9% yield. I consider Enbridge to be a rock solid core holding in any Canadian dividend portfolio. We decided to purchase 100 shares in the wifes TFSA as well as another 100 in my sons RESP.

enbridge

I always recall Motley Fool talking about how Long-term holders of the stock have done very well. In fact, a $10,000 investment in Enbridge 20 years ago would be worth about $303,000 today with the dividends reinvested.

Obviously past results don’t guarantee future returns but I think its safe to say this is a great purchase. I have written more about Enbrige on my past purchases. Feel free to read that article.

I love me some Enbridge

Now my total investment in Enbridge trumps everything in my account. It is definitely a little oversized but I feel their track record of past dividend payouts and dividend growth make it worth while. After that spectra energy deal too, they are a Juggernaut in the energy industry.



This purchase has also propelled my forward yearly dividends from $1850 to over $2300. Hitting another milestone I had set for myself. I can’t state this enough this investing / blogging community is making me better. Remember I only brought in just over 500$ in dividends in all of 2016, Thanks again

There’s still gas in the tank, here’s hoping we see another nice pullback in the market.

Cheers

 

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16 Responses

  1. Nice buy on Enbridge.

    I have owned them for a while in both my TFSA and directly with the transfer agent.

    Around 2 or 3 years ago, they raised the dividend 33% in one year. They might face some headwinds with regards to their debt in the next couple of years, but the stock is definitely a great long term investment.

  2. WL says:

    Worth the consideration to add up in my own portfolio.
    Keep em coming! thanks for this post again.

  3. Excellent purchase great dividend growth potential. Management expects to boost dividend 10-12% per year until 2024.

  4. dividendgeek says:

    WOW! Looks solid mate. I will add it to my watch list.
    dividendgeek recently posted…Portfolio Update – May 2017My Profile

  5. Leo T. Ly says:

    I am glad that you were able to back up the truck and load up. I missed a few opportunities to own Enbridge in the past and I was able to buy a decent amount of Enbridge at the beginning of last year. Now I am adding more on a pull back.
    Leo T. Ly recently posted…Would You Borrow Money To Invest?My Profile

  6. John R says:

    PCI, well done on your second load up to cost average down your initial purchase. Leo as you may be aware from his blog is a sophisticated investor who hedges as well as uses leverage to get a higher yield. ENB is a good pick & should do well long.

  7. Cris says:

    Great… this was a good moment to buy Enbridge.
    Here is another company which I recommend to invest in, OPEN TEXT.
    I will say that is one of the most safe technology company.
    I bought some today at 41.3… if goes under 40 I will add 100 more shares to complete for a 1 drip.
    Intrinsic value is around 45…

  8. Looks like a good buy. Don’t own any currently but wouldn’t mind looking into it and maybe opening a new position. Just kind of heavy on that sector currently. Nice yield, that will add a lot more dividends to your portfolio. Nice work!
    Dividend Daze recently posted…June 2017 Stock PollMy Profile

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