This Energy Stock Is a Must-Own if You Want Passive Income
The energy sector is broad and varied, though most investors rightly view it as highly cyclical. Still, the risk of big upturns followed by painful downturns doesn't actually extend to every corner of the energy industry. Most notably, midstream energy companies often have very reliable cash flows and dividend-paying histories. And one of the best names in the midstream niche is North American giant Enbridge (NYSE: ENB). Here's why you might want to add it to your portfolio.
If you are thinking about passive income, then you are going to want to check out the dividend history on offer from Enbridge. For starters, the dividend yield today is a generous 6.4%. That's way more than you'd get from the SPDR S&P 500 ETF Trust, which yields just 1.5% or so today. However, the key for Enbridge is that the dividend backing that yield is super reliable.
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Source Fool.com
