ENB is breaking out ENB is trading at $55.10 as I write this. The share price was at $54.44 before it went ex-divi.
With the BoC cooperating and the dilution accounted for and the interest costs now being covered by the cash flow of the 2 primary natgas acquisitions, one can expect tailwinds in the future.
Once the election is out of the way, the market should have a clear upwards bias imo. There are alwaysgoing to be lots of micro economic topics to keep the daily commentary going, but lower rates are like a rising tide.
ENB will be announcing another divi raise in November. If the company can ease off the brakes just a bit, I think ENB will see $60 per share.
What does that mean for ENS?
If the market thinks ENB is going higher, surely the current discount the NAV should disappear. That would add a buck to the price of ENS. If ENB hits $60, the price of ENS should go up another $2. Those that added to their ENS position in the $10.50 to $11.50 range are going to be happy campers.