EnbridgeNYSE: ENB

2 Durable Dividend Stocks That Have Delivered Decades of Stability and Growth

Enbridge outperformed the U.S. equity market with a 10% total return since August 21, driven by strong Q3 earnings and a 6.2% forward dividend yield. The company expects steady growth in distributable cash flow and adjusted EBITDA, despite high interest expenses, supported by North America's thriving energy industry. Enbridge's intrinsic value is estimated at $49 per share, offering a 14% upside potential, with a revised dividend discount model reflecting a less aggressive cost of equity.

CALGARY, AB , Nov. 18, 2024 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series 9 (Series 9 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 10 (Series 10 Shares) on December 1, 2024. After taking into account all conversion notices received from holders of its outstanding Series 9 Shares by the November 18, 2024 deadline for the conversion of the Series 9 Shares into Series 10 Shares, less than the 1,000,000 Series 9 Shares required to give effect to conversions into Series 10 Shares were tendered for conversion.

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These companies pay lucrative dividends.

Enbridge's 6.2% yield and 29-year dividend hike track record make it a reliable income source, with $27 billion in growth projects enhancing its future potential. A potential tailwind from $6.5 trillion in money market funds could drive investors to high-quality dividend stocks like Enbridge as interest rates decline. Enbridge's mission-critical North American energy infrastructure and strategic expansions in natural gas and offshore pipelines position it well for long-term growth.

Enbridge is an all-weather income stock.

Zacks.com users have recently been watching Enbridge (ENB) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.