I Own Enbridge for the Yield, Not the Growth Story. Here's Why This Quarter Didn't Change My Mind.
Enbridge's solid history of dependable dividends has made it a favorite of income-oriented investors.
Overview
Shares of Enbridge (NYSE: ENB) are down about 7% over the past month, after the midstream company reported disappointing second-quarter earnings. While there were some causes for alarm in the report, most notably its debt level, the Canadian utility infrastructure company remains a favorite among income investors.
Enbridge has more than 18,000 miles of crude pipeline and more than 19,373 miles of natural gas pipelines. It transports roughly 30% of the crude oil produced in North America and delivers nearly 20% of the natural gas consumed in the U.S. It is also involved in renewable energy, with solar and wind power operations.
Details
I've owned the stock for more than two years, and it has delivered a total return of more than 67% in that time. I'm not jumping ship any time soon. Here are three reasons why I'm holding onto this utility stock.
Source
Originally published at www.fool.com.