Enbridge Inc. (NYSE:ENB) is one of the stocks highlighted in Jim Cramer’s latest Mad Money recap as he provided top stock insights. Cramer explained the reason the stock should be bought, as he remarked:
Another great option is Enbridge. That’s a member of the elite eight income stocks with growth that I highlight in How to Make Money in Any Market. This diversified Canadian energy company has a major pipeline business… It moves 30% of the crude oil produced in North America, no one’s near that, and nearly 20% of the natural gas consumed in the U.S., while also operating the continent’s largest natural gas utility. Enbridge has exposure to the LNG export story via its immense natural gas pipeline business.
But the direct LNG angle here is an LNG export terminal in British Columbia, which Enbridge has a 30% interest in. It’s expected to enter service next year, and because it’s on the West Coast, it’ll be the fastest way to ship natural gas to Asia. Most of our LNG facilities are on the Gulf Coast or the East Coast, so they have to put, they have to cut through the Panama Canal first to get to Asia… Of course, I mainly like the stock because it’s a pipeline operator with a terrific dividend, currently yields 5.3%. You don’t buy Enbridge for its LNG exposure; you buy it for the gas pipelines and the bountiful dividend.
Photo by Nicholas Cappello on Unsplash
Enbridge Inc. operates major energy infrastructure, as the company transports oil and natural gas and manages utility and renewable energy assets.
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