GREY:EBGUF - Post by User
Comment by
borne2runon Nov 29, 2017 11:40pm
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Post# 27060549
RE:RE:RE:RE:RE:1st week of Nov. this shot down to $28.40ish
RE:RE:RE:RE:RE:1st week of Nov. this shot down to $28.40ishThe "Fund Group" is a subsidiary of Enbridge Inc, which needs to raise mountains of cash to pay for its growth projects. They can't do it all with debt and share issues at the parent level. So they drop down assets into the Fund Group and issue shares in ENF - always lots of demand for dividend paying stocks with a yield over 8%, comfortably covered by free cash flow and projected distribution increases of 10% per year.
On the retail side, the issue was quickly sold out.