After the recent dividend drop, Inter Pipeline (TSX:IPL) stock is relatively inexpensive and yields 6.1 percent. Is it a good idea to buy a dividend stock?
Is IPL a good stock to buy?
IPL-T (Inter Pipeline) Rating Inter Pipeline’s Stockchase rating is calculated using stock experts’ indications. A high score indicates that experts like to buy the stock, whereas a low score indicates that experts prefer to sell the stock.
What does Inter Pipeline do?
Inter Pipeline is a multinational energy infrastructure company that transports, processes, and stores energy products across Western Canada and Europe.
Who is the CEO of Inter Pipeline?
Inter Pipeline’s president and CEO, Christian Bayle, talks about the Heartland Petrochemical Complex and the demand for Alberta-made petrochemicals.
What was Enbridge before?
- IPL Energy bought Consumers’ Gas, Canada’s largest natural gas distribution system, in December 1996, in a momentous move that supplied more than one million customers in Ontario, Quebec, and New York at the time. The company that is today known as Enbridge Gas Inc. has its origins in 1848.
- IPL Energy became Enbridge on Oct. 7, 1998, a name that combines “energy” and “bridge” and has stuck to this day.
- In 1999, Enbridge completed the Athabasca Pipeline, which connects Alberta’s oil sands to the company’s mainline system in Hardisty, AB. With 12 oil sands projects connected to the Enbridge system, Enbridge is now the main pipeline operator in the Fort McMurray to Edmonton and Hardisty corridors.
- Enbridge was also given the exclusive franchise to develop and operate a natural gas distribution network in New Brunswick in 1999.
- Enbridge’s overseas activities grew in the early 2000s, with transportation and storage projects in Spain and Colombia. Enbridge would sell its stakes in both enterprises in 2008 and 2009, respectively, but the company is currently looking for fresh investment options outside of the United States and Canada.
- Enbridge’s shares were first listed on the New York Stock Exchange on October 30, 2001, under the code ENB.
- In 2002, Enbridge invested in the SunBridge wind power project in Saskatchewan, launching a renewable energy investment portfolio that has grown to C$7.8 billion and provides almost 2,000 net MW of green energy, with a growing footprint in European offshore wind.
- In 2001, Enbridge completed the purchase of Houston’s Midcoast Energy Resources.
Why do pipeline companies pay high dividends?
It’s simple to understand why. People who rely on money from their investments to make ends meet are struggling with interest rates on savings accounts and certificates of deposits hovering around 1%.
Meanwhile, government bond yields have remained stubbornly low, robbing retirees of a popular source of income for decades.
Energy pipeline equities, along with preferred stock, municipal bonds, and mortgages, are high on the shopping lists of income-seeking investors. In comparison to the Standard & Poor’s 500, these companies tend to give out unusually substantial dividends.
These companies have extensive energy-transfer pipeline networks. They are able to gather consistent cash flows from their clients. They tend to maintain paying hefty dividends and can often afford to boost them since energy consumption is reasonably predictable and recession resistant.
There is a vast list of such energy pipeline firms, as well as associated energy corporations, with reasonably high dividend yields. Some of the major players are listed below, along with their current dividend yields.
It’s important to note that not all of the stocks on this list are pure energy pipeline firms. Some are involved in various aspects of energy transportation or storage. All of them have high dividend yields in common.
What is Enbridge called now?
Enbridge was founded in 1949 as the Interprovincial Pipe Line Company, delivering Western Canadian crude oil to the Midwest of the United States.
Interhome Energy Inc. and IPL Energy Inc. have been the company’s names over the years. IPL Energy was renamed Enbridge in 1998.
Is Enbridge a US company?
Enbridge Inc., based in Calgary, Alberta, Canada, is a worldwide pipeline business. It has grown over time as a result of the acquisition of other pipeline businesses and the extension of their projects. It owns and operates pipelines that transmit crude oil, natural gas, and natural gas liquids across Canada and the United States. Enbridge’s vast pipeline network is the world’s longest in North America. Its crude oil pipeline network spans 27,500 kilometers (17,100 miles) between Canada and the United States. Its natural gas pipeline system spans numerous Canadian provinces, many US states, and offshore in the Gulf of Mexico, with a total length of 38,300 kilometers (23,800 miles).
The pipelines owned by Enbridge transmit 20% of the natural gas consumed in the United States. It owns and maintains Canada’s largest natural gas distribution network, serving Ontario and Quebec customers. Enbridge Gas Inc. has taken over Union Gas in Ontario. Enbridge owns a small stake in Gazfière in Quebec.
Despite the fact that fossil fuels are its primary business, Enbridge has suggested a net zero greenhouse gas emissions goal by 2050, with a 35 percent reduction in emissions intensity by 2030 as an interim goal. Wind and solar assets, waste heat recovery facilities, a geothermal project, a power transmission project, and a hydropower plant are among the renewable energy projects it has created in North America and Europe in recent years. The Enbridge Technology + Innovation labs are located in Calgary, Alberta, and Houston, Texas, respectively.
Enbridge has had spills and protests against the expansion of its pipelines throughout its history. Its Line 3 Replacement Project has lately come under fire in Minnesota, and Line 5 has sparked interest in Michigan.
Is Enercare the same as Enbridge?
Enbridge Gas offers a billing service to businesses that aren’t owned or linked with the company. This service includes Enercare, which is why you’ll notice their rates on your Enbridge Gas account. For more information, go to the Enbridge Gas website.
How long is the longest oil pipeline?
We link people to the energy they need to improve their quality of life at Enbridge. With approximately 17,809 miles (28,661 kilometers) of active crude pipeline across North America—including 9,299 miles (14,965 kilometers) of active pipe in the United States and 8,510 miles (13,696 kilometers) of active pipe in Canada—Enbridge operates the world’s longest and most complex crude oil and liquids transportation system.
- Every day, our Mainline and Express networks deliver more than 3 million barrels of crude oil and liquids.
- We delivered more than 3.77 billion (3,772,414,115) barrels of crude in 2020, the biggest annual amount in our history, with a 99.999975 percent safe delivery record.
- From 2011 through 2020, we transported more than 29.5 billion (29,576,348,973) barrels of crude, with a 99.99989 percent safe delivery record.
- Enbridge is the greatest single conduit of oil into the United States on any given day. We transport over 85 different commodities, including over ten different types of refined products.
More information on Enbridge’s crude oil and liquids pipeline assets can be seen on our interactive map.
What is the longest oil pipeline in the United States?
The Colonial Pipeline is the largest pipeline system in the United States for refined oil products. The pipeline, which is made up of two tubes, is 5,500 miles long (8,850 kilometers) and can transport 3 million barrels of oil per day between Texas and New York.
Colonial Pipeline Company, based in Alpharetta, Georgia, manages the pipeline. The corporation was created in 1961, and pipeline building began in 1962.
The pipeline was the target of a malware intrusion in 2021, which forced a five-day stoppage of operations, resulting in a temporary fuel scarcity throughout the East Coast.
