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Enbridge Income Fund Holdings

TSX:ENF
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENF
TSX
CA$6B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Enbridge Income Fund Holdings Inc., through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The last earnings update was 355 days ago. More info.


Add to Portfolio Compare Print
ENF Share Price and Events
7 Day Returns
0%
TSX:ENF
0.4%
CA Oil and Gas
0.2%
CA Market
1 Year Returns
3%
TSX:ENF
-9.1%
CA Oil and Gas
3.5%
CA Market
ENF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Enbridge Income Fund Holdings (ENF) 0% 0% 0% 3% -7.4% 7.4%
CA Oil and Gas 0.4% -5.5% -2% -9.1% -23.9% -33.6%
CA Market 0.2% -3.3% -1.9% 3.5% 4.4% 7.7%
1 Year Return vs Industry and Market
  • ENF outperformed the Oil and Gas industry which returned -9.1% over the past year.
  • ENF matched the Canada Market (3.5%) over the past year.
Price Volatility
ENF
Industry
5yr Volatility vs Market

Value

 Is Enbridge Income Fund Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Enbridge Income Fund Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Enbridge Income Fund Holdings.

TSX:ENF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:ENF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.907 (1 + (1- 26.5%) (0%))
0.938
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.938 * 5.96%)
7.54%

Discounted Cash Flow Calculation for TSX:ENF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Enbridge Income Fund Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:ENF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.54%)
2020 522.66 Est @ 24.15% 486.03
2021 614.06 Est @ 17.49% 531.00
2022 692.82 Est @ 12.83% 557.11
2023 759.07 Est @ 9.56% 567.60
2024 814.31 Est @ 7.28% 566.23
2025 860.55 Est @ 5.68% 556.44
2026 899.78 Est @ 4.56% 541.03
2027 933.75 Est @ 3.78% 522.11
2028 963.88 Est @ 3.23% 501.18
2029 991.28 Est @ 2.84% 479.30
Present value of next 10 years cash flows CA$5,308.00
TSX:ENF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$991.28 × (1 + 1.95%) ÷ (7.54% – 1.95%)
CA$18,077.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$18,077.52 ÷ (1 + 7.54%)10
CA$8,740.75
TSX:ENF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$5,308.00 + CA$8,740.75
CA$14,048.75
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$14,048.75 / 176.70
CA$79.5
TSX:ENF Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$79.50
Current discount Discount to share price of CA$31.88
= -1 x (CA$31.88 - CA$79.50) / CA$79.50
59.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Enbridge Income Fund Holdings is available for.
Intrinsic value
>50%
Share price is CA$31.88 vs Future cash flow value of CA$79.5
Current Discount Checks
For Enbridge Income Fund Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Enbridge Income Fund Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Enbridge Income Fund Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Enbridge Income Fund Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Enbridge Income Fund Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:ENF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CAD CA$5.47
TSX:ENF Share Price ** TSX (2018-11-09) in CAD CA$31.88
Canada Oil and Gas Industry PE Ratio Median Figure of 69 Publicly-Listed Oil and Gas Companies 8.41x
Canada Market PE Ratio Median Figure of 518 Publicly-Listed Companies 13.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Enbridge Income Fund Holdings.

TSX:ENF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:ENF Share Price ÷ EPS (both in CAD)

= 31.88 ÷ 5.47

5.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Enbridge Income Fund Holdings is good value based on earnings compared to the CA Oil and Gas industry average.
  • Enbridge Income Fund Holdings is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Enbridge Income Fund Holdings's expected growth come at a high price?
Raw Data
TSX:ENF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-14.6%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 40 Publicly-Listed Oil and Gas Companies -0.07x
Canada Market PEG Ratio Median Figure of 241 Publicly-Listed Companies 0.9x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Enbridge Income Fund Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Enbridge Income Fund Holdings's assets?
Raw Data
TSX:ENF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CAD CA$30.84
TSX:ENF Share Price * TSX (2018-11-09) in CAD CA$31.88
Canada Oil and Gas Industry PB Ratio Median Figure of 196 Publicly-Listed Oil and Gas Companies 0.62x
Canada Market PB Ratio Median Figure of 2,277 Publicly-Listed Companies 1.29x
TSX:ENF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:ENF Share Price ÷ Book Value per Share (both in CAD)

= 31.88 ÷ 30.84

1.03x

* Primary Listing of Enbridge Income Fund Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Enbridge Income Fund Holdings is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Enbridge Income Fund Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Enbridge Income Fund Holdings has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Enbridge Income Fund Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Enbridge Income Fund Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-14.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Enbridge Income Fund Holdings expected to grow at an attractive rate?
  • Enbridge Income Fund Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Enbridge Income Fund Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Unable to compare Enbridge Income Fund Holdings's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:ENF Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:ENF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -14.6%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 13%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:ENF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:ENF Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
TSX:ENF Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-09-30 426 421 928
2018-06-30 391 400 1,026
2018-03-31 357 347 233
2017-12-31 313 278 307
2017-09-30 294 288 -10
2017-06-30 282 275 -12
2017-03-31 270 263 90
2016-12-31 254 243 252
2016-09-30 229 214 226
2016-06-30 195 179 195
2016-03-31 161 149 159
2015-12-31 143 131 138

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Enbridge Income Fund Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Enbridge Income Fund Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:ENF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Enbridge Income Fund Holdings Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ENF Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
TSX:ENF Past Financials Data
Date (Data in CAD Millions) EPS *
2018-09-30 5.47
2018-06-30 6.29
2018-03-31 1.51
2017-12-31 2.16
2017-09-30 -0.07
2017-06-30 -0.09
2017-03-31 0.73
2016-12-31 2.17
2016-09-30 2.13
2016-06-30 2.11
2016-03-31 1.97
2015-12-31 1.86

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Enbridge Income Fund Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Enbridge Income Fund Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Enbridge Income Fund Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Enbridge Income Fund Holdings performed over the past 5 years?

  • Enbridge Income Fund Holdings's last earnings update was 355 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Enbridge Income Fund Holdings's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Enbridge Income Fund Holdings's year on year earnings growth rate was positive over the past 5 years.
  • Enbridge Income Fund Holdings has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Enbridge Income Fund Holdings has become profitable in the last year making it difficult to compare the CA Oil and Gas industry average.
Earnings and Revenue History
Enbridge Income Fund Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Enbridge Income Fund Holdings Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ENF Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 426.00 928.00
2018-06-30 391.00 1,026.00
2018-03-31 357.00 233.00
2017-12-31 313.00 307.00
2017-09-30 294.00 -10.00
2017-06-30 282.00 -12.00
2017-03-31 270.00 90.00
2016-12-31 254.00 252.00
2016-09-30 229.00 226.00
2016-06-30 195.00 195.00
2016-03-31 161.00 159.00
2015-12-31 143.00 138.00
2015-09-30 131.13 125.50
2015-06-30 121.33 112.21
2015-03-31 110.51 102.90
2014-12-31 99.68 93.56
2014-09-30 92.66 87.20
2014-06-30 92.38 87.00
2014-03-31 92.04 87.07
2013-12-31 91.04 86.57
2013-09-30 84.55 81.02
2013-06-30 76.06 74.15
2013-03-31 67.63 66.70
2012-12-31 59.84 59.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Enbridge Income Fund Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Enbridge Income Fund Holdings used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Enbridge Income Fund Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Enbridge Income Fund Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Enbridge Income Fund Holdings has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Enbridge Income Fund Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Enbridge Income Fund Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Enbridge Income Fund Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Enbridge Income Fund Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Enbridge Income Fund Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Enbridge Income Fund Holdings has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Enbridge Income Fund Holdings Company Filings, last reported 1 year ago.

TSX:ENF Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 5,440.00 0.00 2.00
2018-06-30 5,544.00 0.00 4.00
2018-03-31 4,859.00 0.00 1.00
2017-12-31 5,115.00 0.00
2017-09-30 4,632.00 0.00
2017-06-30 4,623.00 0.00 5.00
2017-03-31 4,013.00 0.00 1.00
2016-12-31 4,173.00 0.00
2016-09-30 4,075.00 0.00
2016-06-30 3,851.00 0.00
2016-03-31 2,824.00 0.00
2015-12-31 2,687.00 0.00
2015-09-30 2,118.22 0.00 1.89
2015-06-30 2,312.58 0.00 0.12
2015-03-31 2,491.21 0.00 0.35
2014-12-31 2,678.94 0.00 0.21
2014-09-30 1,644.42 0.40
2014-06-30 1,522.02 0.00 0.24
2014-03-31 1,451.53 0.00 0.18
2013-12-31 1,310.40 0.00 0.27
2013-09-30 1,306.51 0.00 0.20
2013-06-30 1,324.16 0.00 0.05
2013-03-31 1,393.85 0.00 0.42
2012-12-31 1,216.97 0.00 0.09
  • Enbridge Income Fund Holdings has no debt.
  • Enbridge Income Fund Holdings currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Enbridge Income Fund Holdings has no debt, it does not need to be covered by operating cash flow.
  • Enbridge Income Fund Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Enbridge Income Fund Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Enbridge Income Fund Holdings has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Enbridge Income Fund Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.09%
Current annual income from Enbridge Income Fund Holdings dividends.
If you bought CA$2,000 of Enbridge Income Fund Holdings shares you are expected to receive CA$142 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Enbridge Income Fund Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (1.98%).
  • Enbridge Income Fund Holdings's dividend is above the markets top 25% of dividend payers in Canada (5.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:ENF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 35 Stocks 4.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:ENF Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
TSX:ENF Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2018-09-17 2.260 7.103
2018-08-03 2.260 6.828
2018-07-16 2.260 6.975
2018-06-15 2.260 7.301
2018-05-10 2.260 7.877
2018-04-16 2.260 8.122
2018-03-15 2.260 8.089
2018-02-16 2.260 8.315
2017-11-29 2.260 7.821
2017-10-16 2.053 6.870
2017-09-15 2.053 6.427
2017-08-03 2.053 6.577
2017-07-17 2.053 6.374
2017-06-15 2.053 6.404
2017-04-17 2.053 6.206
2017-02-17 2.053 6.047
2017-01-05 2.053 5.871
2016-12-15 1.866 5.342
2016-10-17 1.866 5.510
2016-09-15 1.866 5.569
2016-07-29 1.866 5.745
2016-07-18 1.866 5.790
2016-06-15 1.866 5.818
2016-05-12 1.866 6.051
2016-04-15 1.866 6.476
2016-03-15 1.866 6.344
2016-02-19 1.866 6.449
2015-12-03 1.866 6.819
2015-10-15 1.697 5.479
2015-09-01 1.697 5.180
2015-07-28 1.542 4.698
2015-07-15 1.542 4.432
2015-06-15 1.542 4.438
2015-05-04 1.542 4.107
2015-04-15 1.542 4.000
2015-03-16 1.542 4.123
2015-02-10 1.542 3.843
2015-01-15 1.542 3.718
2014-12-15 1.542 4.050
2014-11-10 1.542 4.881
2014-10-15 1.375 4.640
2014-09-15 1.375 4.543
2014-07-29 1.375 4.374
2014-07-15 1.375 4.797
2014-06-17 1.375 4.947
2014-05-05 1.375 5.006
2014-04-15 1.375 5.162
2014-03-17 1.375 5.257
2014-02-11 1.375 5.405
2014-01-15 1.375 5.605
2013-12-16 1.375 5.800
2013-11-05 1.375 5.987
2013-10-15 1.335 5.763
2013-09-16 1.335 5.687
2013-07-31 1.335 5.640
2013-07-15 1.335 5.429
2013-06-17 1.335 5.500
2013-05-06 1.335 5.245
2013-04-15 1.335 5.467
2013-03-15 1.335 5.355
2013-02-12 1.335 5.302
2013-01-15 1.335 5.258
2012-12-10 1.335 5.543
2012-10-15 1.236 5.310
2012-09-17 1.236 5.270
2012-08-01 1.236 5.350
2012-07-16 1.236 5.328
2012-06-15 1.236 5.374
2012-05-07 1.236 5.225
2012-04-16 1.236 5.625
2012-03-15 1.236 5.764
2012-02-07 1.236 5.543
2012-01-13 1.236 5.765
2011-12-15 1.236 5.985
2011-11-08 1.236 6.254
2011-10-17 1.152 6.106
2011-09-15 1.152 6.243
2011-08-04 1.152 6.222
2011-07-15 1.152 6.256
2011-05-09 1.152 6.120
2011-03-15 1.152 5.854

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Enbridge Income Fund Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Enbridge Income Fund Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Enbridge Income Fund Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Enbridge Income Fund Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Enbridge Income Fund Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Enbridge Income Fund Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Enbridge Income Fund Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Perry Schuldhaus
TENURE AS CEO 5.8 years
CEO Bio

Mr. Perry Frank Schuldhaus has been the President of Enbridge Income Fund Holdings Inc., and Enbridge Management Services Inc. since January 1, 2014, where he is responsible for the business development and acquisition of energy related infrastructure. Mr. Schuldhaus served as Vice President of Business Development at Enbridge Pipelines Inc. since March 2008. At Enbridge Pipelines Inc., he served as Director of Market Development and Acquisitions from November 2006 to March 2008, Director of Market Development from January 2006 to November 2006, Director of Acquisitions and Integration from October 2004 to January 2006 and Director of Integration from May 2004 to October 2004. He has over 30 years of domestic and international experience in the energy industry, including in gas transmission, gas gathering and processing. He has over 17 years of experience with Enbridge Inc. He served as Vice President, Upstream Business Development & Acquisitions within the Liquid Pipelines division of Enbridge Inc. Mr. Schuldhaus also had 10 years of experience at TransCanada Corp. where he held roles with executive level responsibilities for business development, internal audit, as well as health, safety and environment. He served as Director of Alliance Pipeline Ltd. since January 01, 2014 to until September 1, 2016. He holds a B.Sc. in Civil Engineering from the University of Alberta and has completed the Finance for Senior Executives program at the Harvard Business School.

CEO Compensation
  • Insufficient data for Perry to compare compensation growth.
  • Insufficient data for Perry to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Enbridge Income Fund Holdings management team in years:

2.4
Average Tenure
55
Average Age
  • The tenure for the Enbridge Income Fund Holdings management team is about average.
Management Team

Perry Schuldhaus

TITLE
President
TENURE
5.8 yrs

Pat Murray

TITLE
CFO & Vice President of Finance

Nafeesa Kassam

TITLE
Manager

Wanda Opheim

TITLE
Treasurer
AGE
56
TENURE
2.7 yrs

D. Jarvis

TITLE
President of Liquids Pipelines
AGE
55

Allen Capps

TITLE
Controller
AGE
48
TENURE
2.7 yrs

Tyler Robinson

TITLE
VP & Corporate Secretary
TENURE
2.2 yrs

David Taniguchi

TITLE
Corporate Secretary

Rebecca Langille

TITLE
Assistant Controller
TENURE
2.2 yrs

Andrew Swales

TITLE
Assistant Treasurer
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure and age of the Enbridge Income Fund Holdings board of directors in years:

4.4
Average Tenure
61
Average Age
  • The tenure for the Enbridge Income Fund Holdings board of directors is about average.
Board of Directors

Harry Roberts

TITLE
Chairman of the Board
AGE
67
TENURE
5.6 yrs

M. Lewis

TITLE
Director
AGE
58
TENURE
3.3 yrs

John Bird

TITLE
Director
AGE
69
TENURE
8.8 yrs

John Whelen

TITLE
Director
AGE
59
TENURE
2.7 yrs

Brian Frank

TITLE
Director
AGE
62
TENURE
5.4 yrs

Laura Cillis

TITLE
Director
AGE
60
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Enbridge Income Fund Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Enbridge Income Fund Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Enbridge Income Fund Holdings Inc (TSE:ENF) Delivered A Better ROE Than Its Industry

We'll use ROE to examine Enbridge Income Fund Holdings Inc (TSE:ENF), by way of a worked example. … Enbridge Income Fund Holdings has a ROE of 19%, based on the last twelve months. … View our latest analysis for Enbridge Income Fund Holdings?

Simply Wall St -

Is Enbridge Income Fund Holdings Inc (TSE:ENF) A Great Dividend Stock?

Historically, Enbridge Income Fund Holdings Inc (TSE:ENF) has paid dividends to shareholders, and these days it yields 6.7%. … Let's dig deeper into whether Enbridge Income Fund Holdings should have a place in your portfolio. … See our latest analysis for Enbridge Income Fund Holdings

Simply Wall St -

Who Are The Largest Shareholders In Enbridge Income Fund Holdings Inc (TSE:ENF)?

I am going to take a deep dive into Enbridge Income Fund Holdings Inc’s (TSE:ENF) most recent ownership structure, not a frequent subject of discussion among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … Check out our latest analysis for Enbridge Income Fund Holdings

Simply Wall St -

Is Enbridge Income Fund Holdings Inc's (TSE:ENF) Stock Available For A Good Price After Accounting For Growth?

Enbridge Income Fund Holdings Inc (TSE:ENF) is considered a high-growth stock, but its last closing price of CA$32.72 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … What can we expect from Enbridge Income Fund Holdings in the future. … One reason why investors are attracted to ENF is the high growth potential in the near future

Simply Wall St -

Enbridge Income Fund Holdings Inc (TSE:ENF): What You Have To Know Before Buying For The Upcoming Dividend

Shares of Enbridge Income Fund Holdings Inc (TSE:ENF) will begin trading ex-dividend in 2 days. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Enbridge Income Fund Holdings's latest financial data to analyse its dividend attributes. … View out our latest analysis for Enbridge Income Fund Holdings

Simply Wall St -

Has Enbridge Income Fund Holdings Inc (TSE:ENF) Got Enough Cash?

Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Enbridge Income Fund Holdings Inc (TSE:ENF) with a market-capitalization of CA$5.15b, rarely draw their attention. … Don’t forget that this is a general and concentrated examination of Enbridge Income Fund Holdings's financial health, so you should conduct further analysis. … Check out our latest analysis for Enbridge Income Fund Holdings

Simply Wall St -

Why Fundamental Investors Love Enbridge Income Fund Holdings Inc (TSE:ENF)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Enbridge Income Fund Holdings Inc (TSE:ENF) due to its excellent fundamentals in more than one area.

Simply Wall St -

Should You Buy Enbridge Income Fund Holdings Inc (TSE:ENF) At This PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for ENF Price per share = CA$28.29 Earnings per share = CA$1.508 ∴ Price-Earnings Ratio = CA$28.29 ÷ CA$1.508 = 18.8x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … ENF’s P/E of 18.8x is lower than its industry peers (20.1x), which implies that each dollar of ENF’s earnings is being undervalued by investors.

Simply Wall St -

Is Enbridge Income Fund Holdings Inc's (TSE:ENF) Liquidity Good Enough?

Mid-caps stocks, like Enbridge Income Fund Holdings Inc (TSX:ENF) with a market capitalization of CA$4.95B, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Check out our latest analysis for Enbridge Income Fund Holdings Can ENF service its debt comfortably? … Given zero long-term debt on its balance sheet, Enbridge Income Fund Holdings has no solvency issues, which is used to describe the company’s ability to meet its long-term obligations.

Simply Wall St -

Are Insiders Too Confident In Enbridge Income Fund Holdings Inc (TSE:ENF)?

Enbridge Income Fund Holdings is one of Canada’s large-cap stocks that saw some insider buying over the past three months, with insiders investing in 237,500 shares during this period. … View our latest analysis for Enbridge Income Fund Holdings Which Insiders Are Buying? … Next Steps: Enbridge Income Fund Holdings’s insider meaningful buying activity tells us the shares are currently in favour, reinforced by the substantial earnings growth expectations, though share price volatility was perhaps inconsequential to cash in on any mispricing.

Simply Wall St -

Company Info

Description

Enbridge Income Fund Holdings Inc., through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The company holds interests in the 2,306-kilometre Canadian Mainline, the Regional Oil Sands System, and Southern Lights Pipeline, as well as other crude oil gathering pipelines and storage facilities in Alberta, Saskatchewan, Manitoba, Ontario, and Quebec; and crude oil storage terminals and caverns in Hardisty, Alberta. It also owns a 50% interest in the 3,719-kilometre Alliance System, which transports natural gas from western Canada and the Bakken region to delivery points near Chicago, Illinois. In addition, the company holds interests in 14 renewable and alternative power generation assets that include solar, wind, and waste heat recovery facilities comprising a generation capacity of approximately 1400 megawatts of power in the areas of Alberta, Saskatchewan, Ontario, and Quebec. Enbridge Income Fund Holdings Inc. was incorporated in 2010 and is headquartered in Calgary, Canada. As of November 8, 2018, Enbridge Income Fund Holdings Inc. operates as a subsidiary of Enbridge Inc..

Details
Name: Enbridge Income Fund Holdings Inc.
ENF
Exchange: TSX
Founded: 2010
CA$5,633,309,779
176,703,569
Website: http://www.enbridgeincomefund.com
Address: Enbridge Income Fund Holdings Inc.
Fifth Avenue Place,
425 - 1st Street SW,
Calgary,
Alberta, T2P 3L8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX ENF Common Shares The Toronto Stock Exchange CA CAD 21. Dec 2010
Number of employees
Current staff
Staff numbers
0
Enbridge Income Fund Holdings employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/23 05:10
End of day share price update: 2018/11/09 00:00
Last estimates confirmation: 2018/04/05
Last earnings filing: 2018/11/02
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.