Real time NAV $15.73ENS is now trading at a 3.76% discount to the NAV which looks like the bottom in terms of the discount.
The adjusted Q4 earnings for ENB were a miss but the 2022 guidance remained strong which has moved the share price up today.
ENB certainly Under Sells itself on the "promise" side of things which sets them up well to Over Deliver on the "performance" side. It was so typical that Monaco cautioned that the expected good news expected in 2022 should be tempered by continuing softness in demand.
I think ENB will deliver at the high end of its guidance in 2022 which will hopefully set the company up for announcing a more substantial raise in the dividend on Enbridge Day in December. As a ENS Common A shareholder, increasing the ENB dividend is important to offset the hidden costs of ownership.
ENS has been trading in a tight range recently, thereby ignoring the rise in the price of ENB shares. Will ENS continue to ignore the price of ENB after it goes ex-dividend on Monday or will the pattern change again?