Putting the discount to the NAV into perspective Now that ENB has gone ex-divi and the pros have had time to squeeze as many shares out of weak hands, it is time to look at ENS vs ENB as an investment
As the time of writing, ENB is trading at $52.96.
ENS is trading at $11.89 which is a 7.24% discount to its NAV.
Buying ENS at the current price is equivalent to buying ENB at $52.96 x 0.9276 = $49.12
Would you buy ENB at $49.12, which is $3.84 below the market price?
I have always maintained that ENS should trade at a reasonable (5% at least) Premium to its NAV as long as the future of ENB looks positive.
i would be using this opportunity to add ENS if I didn't already have a full position and then some.