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Enbridge is investing in a solar energy project to boost its cash flow and energy transition ambitions. Enbridge ( ENB 0.39%) has been one of the best dividend-paying stocks in the energy patch. The Canadian energy infrastructure company has paid dividends for more than 68 years, increasing them in each of the last 28 years. Powering the steady rise in Enbridge’s payout is its brilliant strategy. The company has an extremely low-risk business model of operating pipelines and utility assets that generate very stable income. It uses that steady cash flow to pay dividends (it currently yields 7.7%) and invest in additional income-producing energy infrastructure assets. It recently added more power to its dividend growth engine by agreeing to invest in a solar energy project. The investment also enhances its smart energy transition strategy. NYSE: ENB Enbridge Today’s Change (0.39%) $0.13 Current Price $33.40 ENB Key Data Points Market Cap $71B Day’s Range $33.27 – $33.71 52wk Range $31.03 – $42.12 Volume 799 Avg Vol 6,133,679 Gross Margin 37.64% Dividend Yield 7.79% Checks all the boxes Enbridge recently agreed to participate in the construction and operation of the Fox Squirrel solar project in Ohio. It will own a 50% […]
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