We added three high-yielding stocks last month to the Retirement Paycheck portfolio, and they alread...
Top Picks 2016: Enbridge, Inc.
01/26/2016 7:00 am EST
Years ago I learned that one of the easiest ways to make money in the market is to buy top-quality stocks while they are temporarily cheap, asserts Gordon Pape, editor of Internet Wealth Builder.
Enbridge (ENB) fits the bill perfectly. This Canadian-based company operates the world's largest oil and liquids pipeline system and is a major natural gas distributor as well.
The company has a history of solid growth and regular dividend increases, the latest being a 14% hike starting in March.
The stock hit an all time high of $54.43 in late April. Then, suddenly, people started to think that maybe the pipeline companies would be sideswiped by the oil sell-off. Enbridge shares turned around and started drifting lower.
Even the early December announcement of the dividend hike didn't stem the sell-off. By mid-December, the shares had fallen all the way to $29.19.
At that point, saner heads prevailed and the stock rallied to close on December 31 at $33.19. Still, that was down 39% from the April high. That looks like a buying opportunity to me.
The stock should get back over $40 this year, plus you're collecting a 4.6% yield. What's not to like?
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