There’s no scarcity of nice investments in the marketplace proper now. And chief amongst these nice investments is Enbridge (TSX:ENB), with its very juicy dividend. However is Enbridge the very best dividend inventory in your portfolio proper now?

Let’s attempt to reply that query.

Meet Enbridge: The power infrastructure behemoth

For many who are unfamiliar with the inventory, Enbridge is among the largest power infrastructure corporations on the planet. The corporate is finest recognized for its profitable pipeline enterprise and for a very good cause.

Throughout each its pure fuel and crude segments, Enbridge hauls a variety of oil and fuel. Particularly, the corporate transports almost one-third of all North American-produced crude and one-fifth of the pure fuel wants of the U.S. market.

That makes Enbridge probably the most defensive shares in the marketplace, however that’s not even the very best half. Whereas the pipeline enterprise generates the majority of Enbridge’s income, there are different intriguing facets to contemplate.

A kind of is Enbridge’s rising renewable power enterprise. Over the previous twenty years, Enbridge has invested over $9 billion into varied renewable power and energy transmission initiatives.

Immediately, that community contains over 40 renewable power services positioned throughout North America and Europe. Collectively, these services have a web producing capability of two,371 megawatts, which is sufficient to energy over 1.1 million properties.

Once more, that’s not all.

Enbridge additionally operates the most important pure fuel utility in North America, which serves almost seven million clients. That new standing comes due to a trio of acquisitions for the East Ohio Fuel Firm, Questar Fuel, and the Public Service Firm of North Carolina accomplished late final yr.

A key level right here that potential traders want to bear in mind is that, like its pipeline and renewable power enterprise, the utility enterprise could be very defensive.

In different phrases, long-term traders searching for the very best dividend inventory to purchase proper now ought to contemplate Enbridge.

Enbridge pays a loopy dividend

One of many predominant explanation why traders proceed to flock to Enbridge is for the dividend it gives. Particularly, the corporate pays out a quarterly dividend that at the moment carries an insane yield of seven.89%.

To place that yield into context, let’s contemplate an funding of $40,000 (as half of a bigger well-diversified portfolio).

For that preliminary funding, traders can anticipate to generate a first-year revenue of simply over $3,200. Needless to say potential traders who aren’t prepared to attract on that revenue but can select to reinvest it till wanted.

Moreover, it’s value noting that Enbridge has supplied wholesome annual bumps to that dividend, going again almost three many years with out fail.

That handily makes Enbridge probably the greatest, if not the finest, dividend shares for any long-term portfolio.

Enbridge could also be the very best dividend inventory, however will you purchase it?

No inventory, even essentially the most defensive inventory, is with out some danger. Happily, Enbridge gives traders a dependable income stream from a number of defensive segments and a juicy dividend. Not solely does this make Enbridge a finest dividend inventory candidate, however there’s yet one more ultimate level to notice.

Enbridge at the moment trades down over 16% over the trailing 12-month interval.

In brief, this makes it a wonderful time to choose up a terrific long-term gem at an honest low cost.