RE:Live NAV for ENS is $12.19Obscure....thanks for then nfo as usual
I bought some ENS yesterday ( a small position since I already own quite a bit of another split share commons and some of its preferreds).
As I mentioned in earlier posts, I like to buy things when I can pay less than they are worth. With the discount to NAV, that certainly meets that criteria. Again, though, I continue to view investment in splits as trading positions as opposed to long term holds. If the premium rises into the mid teens again or the SP of ENB takes off or some combo of both I will be looking to take profits.
In terms of the question as to why there isn't currently a 15% for ENS, I attribute the answer to a couple of factors... one is that some people are reading your posts and trading more inteliigently and two...I think Middlefield has gotten too greedy with so many raises and turned people off.
In terms of ENB, I agree with your perspective and I will add one other point. ENB spends over a billion dollars a year to power its pipelines. The company continues to develop and find ways to reduce this cost. The ways they are doing it are very cost effective with the savings going directly to the bottom line and are low risk investments (they are their own customer so they know both sides of the equation). At the same time these projects are not "sexy" and garner little attention and so the SP is not rewarded until later when investors look at the bottom line.