The Enbridge stock is down on the year but is it still a good buy?

Q - I currently do not have a position in Enbridge. Do you think that this might be a good entry point or do you foresee further downside? – Gord Z.

A – I cannot predict the day-to-day price movements in a stock. No one can, to my knowledge. What I can tell you is that, over the long term, I regard Enbridge as a core holding in any portfolio. I see the current price pullback as a buying opportunity. The stock pays an annual dividend of $2.44, to yield 5.1 per cent at the current price. The dividend provides a nice cash flow while you are waiting for the share price to turn around. Ask your financial advisor about it. – G.P.

 

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