E Split Corp T.ENS.PR.A

Primary Symbol: T.ENS Alternate Symbol(s): ENSRF

The objective of the Class A shares is to provide holders with non-cumulative monthly cash distributions and the opportunity for capital appreciation through exposure to the portfolio. And The investment objectives for the preferred shares is to provide holders with fixed cumulative preferential quarterly cash distributions and return the original issue price of 10.00 Dollars to holders upon maturity. The Company has a portfolio comprised primarily of common shares of Enbridge Inc. Enbridge, a North American oil and gas pipeline, gas processing and natural gas distribution company the Enbridge Common Shares or the Portfolio and intends to purchase Enbridge Common Shares from time to time in the market or through participation in future public offerings by Enbridge. The Advisor believes that the Company offers investors an opportunity to gain exposure to Enbridge, one of the worlds largest energy infrastructure companies.

TSX:ENS - Post by User

E Split Corp > Update

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Comment by Experiencedon Dec 05, 2023 2:08pm

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Post# 35769533

RE:Update

Nice analysis Obscure

One caveat to your scenario is that investors continue to be willing to pay a premium to NAV at current levels. If that sentiment were to change then the price of ENS would drop. As a general rule most splits due trade at a premium to NAV but that premium fluctuates. Not that long ago the premium to NAV for ENS was around 5% if I recall correctly. A reversion to these levels would result in a significant drop in the SP....something to keep an eye on.

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