This 7%-Yielding Dividend Stock Should Be Your First Choice for Income and Upside
Enbridge (NYSE: ENB) is North America's largest energy infrastructure operator. The Canadian pipeline and utility company transports 30% of the oil produced in North America and 20% of the gas consumed in the U.S. and operates the continent's largest gas utility. And for good measure, it's a leading global renewable power producer.
Those assets help Enbridge pay a well-supported dividend, which currently yields around 7%. Meanwhile, Enbridge has lots of visible growth coming down the pipeline, which, along with its dividend, should give it the fuel to produce low-double-digit annualized total returns in the coming years. These features make Enbridge "a first-choice investment opportunity," according to CEO Greg Ebel in its second-quarter earnings release.
Enbridge recently reported solid second-quarter results. The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 8% (setting a new record for that period), while its cash flow per share increased by 3%.
Source Fool.com
