How to Earn $500 a Month From Enbridge Stock
The Canadian pipeline giant is still a rock-solid income investment.
Overview
Enbridge (NYSE: ENB), which is based in Canada, operates over 70,000 miles of pipelines and smaller feeder lines in North America. As a midstream company, Enbridge generates most of its revenue by charging upstream extraction companies and downstream refineries tolls for using its infrastructure. That business model is well insulated from fluctuating oil and gas prices because it merely needs those resources to flow through its pipes to generate stable profits.
Image source: Getty Images.
From 2021 to 2025, Enbridge's distributable cash flow (DCF) per share rose from $4.96 CAD to $5.71 CAD. For 2026, it expects that figure to rise to $5.70-$6.10 CAD per share, which will easily cover its forward dividend rate of $3.88 CAD ($2.78) per share. It's raised its dividend annually for 31 consecutive years. It currently pays a forward dividend yield of 5.3%.
Details
Source
Originally published at www.fool.com.