This 6.5%-Yielding Dividend Stock Just Closed the Final Phase of a Once-in-a-Generation Opportunity

Last fall, Enbridge (NYSE: ENB) made a bold strike. The Canadian pipeline and utility giant agreed to buy three natural gas utilities from Dominion in a $14 billion deal. The transaction would create the largest natural gas utility franchise in North America. At the time, Enbridge's CEO Greg Ebel stated, "Adding natural gas utilities of this scale and quality, at a historically attractive multiple, is a once-in-a-generation opportunity." While it took a little more than a year, the company has finally closed this generational opportunity to expand its gas utility business. The deal significantly enhances the company's ability to sustain and grow its 6.5%-yielding dividend. Enbridge recently announced that it has closed its acquisition of Public Service Company of North Carolina (PSNC) from Dominion. The deal adds over 600,000 service customers in the state, which it serves with over 13,000 miles of gas distribution and transmission pipelines and other related gas infrastructure assets. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool