For investors with an itch to tap into the energy market, Canadian companies are proving to be a playground of promise, with Enbridge and TC Energy dancing in the spotlight.
The Success of Enbridge
Enbridge recently set tongues wagging by lifting its earnings forecast for the upcoming years, projecting a robust 7-9% growth trajectory until 2026. The company’s positive outlook was framed by a flurry of new investments earmarked for the U.S. Gulf Coast region, featuring spanking-new export docks and storage tanks. Further stoking the excitement, Enbridge struck a partnership with WhiteWater/I Squared Capital to birth pipelines and storage units linking the Permian Basin to the Gulf Coast.
Interested in More? Beef Up Your Portfolio with Permian Gas
“At Enbridge, our focus remains unwavering on operational excellence, safety, and reliability, blended seamlessly with integrated solutions spanning conventional and lower-carbon fuels. This panoramic approach solidifies Enbridge’s stance as the go-to energy conveyor for our clients. Our expansive reach and diverse portfolio provide a tactical advantage for Enbridge to sync with the rhythm of the global energy shuffle,” enthused Enbridge’s president and CEO, Greg Ebel.
TC Energy Joins the Party
Not one to be left behind in the Canadian energy carnival, TC Energy is making waves with its strategic divestment maneuvers. Prying open its purse strings, TC Energy revealed the sale of the Portland Natural Gas Transmission System to Morgan Stanley Infrastructure Partners and a BlackRock-led fund for a cool $1.14 billion. And the party doesn’t stop there – in a recent development, TC Energy offloaded the Prince Rupert Gas Transmission Holdings and Prince Rupert Gas Transmission Limited Partnership to Nisga’a Nation and Western LNG.
Canadian Energy Expedition
Enbridge and TC Energy are champions waving the Canadian flag high in the energy bullring. While the bulk of the index’s assets nestle in the U.S., the Alerian Midstream Energy Select Index (AMEI) boasts a 26% stake in Canadian ventures. Among the index’s leading Canadian stars are Enbridge (ENB), Pembina Pipeline Corporation (PPL), Keyera (KEY), Gibson Energy (GEI), and TC Energy (TRP). The quartet of Enbridge, Pembina, Gibson, and Keyera are all basking in monthly gains, with TC Energy being the lone ranger, down 0.3% over the past month.
AMEI is basking in the limelight of success. As of March 28, 2024, the index flaunts an impressive 30% surge over the last year while delivering a mouth-watering 5.8% yield. A dip into this index can marinate your portfolio with flavorful diversification, promising sumptuous returns and a savory yield.
Dipping your toes into the Alerian Energy Infrastructure ETF (NYSE Arca: ENFR) serves a sumptuous platter of Canadian energy giants for investors. Holding a generous slice of Enbridge, TC Energy, Pembina, and Keyera, ENFR has cooked up a tantalizing 27% surge in the past year and a spicy 6% spike in the last month.
For the latest buzz, insights, and analyses, whet your appetite with the Energy Infrastructure Channel.
AMEI forms the bedrock of the Alerian Energy Infrastructure ETF (ENFR).
vettafi.com playfully juggles under the umbrella of VettaFi LLC (“VettaFi”). VettaFi, the architect behind ENFR’s index, earns its keep through an index licensing fee. However, to be clear as day, ENFR is not birthed, blessed, endorsed, or hawked by VettaFi, which absolves itself of any duty or liability linked to ENFR’s issuance, administration, marketing, or trading.
Read more over at ETFTrends.com.
Opinions and viewpoints expressed here belong to the author’s own stable of thoughts and do not necessarily mirror those of Nasdaq, Inc.