This $55 Energy Stock Could Be Your Ticket to Future Riches
If you are looking to invest in the energy sector, this high-yield Canadian giant has you covered.
Overview
Enbridge (NYSE: ENB) has increased its dividend annually, in Canadian dollars, for 31 consecutive years. The dividend yield is currently a lofty 5%. If you buy this North American midstream energy giant, you are setting yourself up for years of reliable and growing dividends. But there's an important nuance you need to understand before you buy the stock.
Enbridge's core business is moving oil and natural gas around the world. It charges fees to the customers using its vast North American portfolio of energy infrastructure assets. This is a reliable business that grows slowly over time as fees are increased and new assets are acquired or built. You aren't likely to get rich quick here, but you can build material wealth over time. Notably, the 5% dividend yield gets you halfway to the 10% return that most investors expect from the market.
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Originally published at www.fool.com.