Was Jim Cramer Right About These 11 Stocks?

5. Enbridge Inc. (NYSE:ENB)

Number of Hedge Fund Holders: 34

A caller said he sold Dominion Energy and bought Enbridge Inc. (NYSE:ENB), asking whether he should hold and reinvest the dividend. Cramer affirmed:

“I like Enbridge. Continue to reinvest. I’m one of the few people that’s liked Enbridge all the way down because I trust that management team.”

Cramer’s trust in management paid off with Enbridge gaining 23.90%. Enbridge Inc. (NYSE:ENB) operates North America’s most extensive pipeline system and is expanding its renewable energy investments across wind and solar.

Cramer remains a big fan of the natural gas stock. Here’s his analysis from May 13:

“What else? You know I’m a big fan of Enbridge, the Canadian pipeline colossus. Although their network also has lots of crude oil exposure, still, I think Enbridge belongs in any shortlist of natural gas plays because they operate the continent’s largest natural gas utility by volume. These guys were always big in Canada, they run the main gas utility in Toronto.

But last year, they bought three American utilities in Utah, Ohio, and North Carolina, respectively, from Dominion Energy, and that’s created North America’s largest natural gas utility. Now, despite a solid 5% gain so far this year and a nearly 18% gain over the past 12 months, the stock’s pretty still cheap, trading just over 20 times this year’s earnings estimates, get this, supports a juicy 6% yield. What is not to like about Enbridge?”