Is BCE Stock or Enbridge Stock a Better Buy for Passive Income?
Is BCE Stock or Enbridge Stock a Better Buy for Passive Income?
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BCE (TSX:BCE) and Enbridge (TSX:ENB) fell out of favour with investors in the past two years as interest rate hikes drove up borrowing costs for the companies, putting pressure on profits.
在过去的两年中,随着利率的上升推高了公司的借贷成本,BCE(TSX:BCE)和Enbridge(TSX:ENB)已经失去了投资者的青睐,给利润带来了压力。
The drop in the share prices of BCE and Enbridge from the 2022 highs has pushed the dividend yields to high levels. Investors with a contrarian investing strategy are wondering if BCE stock or ENB stock is undervalued right now and good to buy for a self-directed portfolio focused on passive income.
从2022年的高点至今,BCE和Enbridge的股价下跌,将股息收益率推高至较高水平。持反向投资策略的投资者想知道BCE股票或ENb股票现在是否被低估,是否适合于一个以被动收入为重点的自我管理投资组合。
BCE
BCE
BCE investors took a big hit over the past two years. The stock currently trades near $45 compared to $74 at one point in 2022. The recent slip below $43 took the stock to a level not seen in more than a decade.
在过去的两年中,BCE股东遭受重创。目前,该股的交易价格约为45美元,而2022年曾一度达到74美元。最近跌破43美元的价格为该公司的股价带来了十多年以来从未见过的水平。
Investors need to be careful, as the stock has trended lower for the past 27 months. However, BCE is starting to look oversold at this point and there is decent upside potential on a rebound.
投资者需要小心,该股已经持续下跌了27个月。然而,BCE目前看起来已经超卖,在反弹上还有不错的上涨潜力。
The company announced staff cuts of roughly 6,000 positions over the past year in a move that will reduce expenses and should position the business to meet financial targets as it grapples with weak advertising revenue in the radio and television segments of the media group. BCE sold or closed dozens of radio stations and trimmed programming across the TV segment to adjust to the challenges.
该公司在过去一年中宣布了大约6,000个职位的裁员,以减少开支并调整商务业务,以适应媒体集团广告收入不佳的情况,关闭或出售了数十个广播电台,并削减了电视部门的节目。
For the full year, BCE still expects to generate revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) that are in line with 2023 or slightly higher. The core mobile and internet services businesses remain strong, and the cost cuts, coupled with anticipated lower interest rates, should stabilize earnings in 2025.
对于整个年度,BCE仍然希望产生与2023年基本相同或略高的营业收入和利润前调整利息、税金、折旧和摊销(EBITDA)。核心的移动和互联网服务业务仍然强劲,加上预期的降息和成本削减,应该可以在2025年稳定收益。
Investors who buy BCE at the current level can get a dividend yield of 8.8%.
目前,购买BCE股票的投资者可以获得8.8%的股息收益率。
Enbridge
恩桥
Enbridge slipped from $59 in June 2022 to around $43 last fall. The stock has trended higher since that time as bargain hunters emerged on anticipation of cuts to interest rates in Canada and the United States in 2024. The Bank of Canada has already started lowering rates and the U.S. Federal Reserve is expected to begin reducing rates before the end of this year.
恩桥(Enbridge)的股价在2022年6月从59美元下跌至去年秋天的43美元左右。该股自那时起呈上涨趋势,因为折价购买者预计在2024年加拿大和美国的利率下调前会出现购买机会。加拿大银行已经开始降息,而美国联邦储备委员会预计将在今年年底前开始降息。
Enbridge uses debt to fund part of its growth program. Lower borrowing costs should prop up profits and boost cash available for distributions. Enbridge is wrapping up its US$14 billion purchase of three natural gas utilities in the United States. The company is also working on $25 billion in secured capital projects. As new assets come online, the company expects distributable cash flow to rise by 3% per year through 2026 and by 5% after that timeframe.
恩桥使用债务为其增长计划提供资金支持。更低的借款成本应该支持利润并增加可分配现金。恩桥正在结束其耗资14十亿美元的三个美国天然气公用事业的收购,并正在进行25十亿美元的安全资本项目。随着新资产的启用,公司预计分配现金流将在2026年之前每年增长3%,之后每年增长5%。
Investors who buy ENB stock at the current price near $50 can still get a 7.25% dividend yield.
目前以50美元的价格购买ENb股票的投资者仍然可以获得7.25%的股息收益率。
Is one a better buy today?
现在哪个更值得购买?
BCE offers a higher yield, but Enbridge is probably the safer pick right now. The recovery in the share price over the past nine months indicates the worst of the impact from higher interest rates is probably in the rearview mirror.
BCE提供更高的股息收益率,但Enbridge现在可能是更安全的选择。在过去的九个月中,股价的回升表明受高利率影响的最糟情况可能已经过去了。
BCE could finally be at a bottom, but it is too early to tell. That being said, contrarian investors might want to start nibbling. Based on the 2024 guidance, the stock is likely oversold, and the distribution should be safe.
BCE可能已经到达了底部,但现在评估还为时过早。话虽如此,持反向投资策略的投资者可能想开始做些小尝试。根据2024年的指导方针,该股很可能被超卖,分配应该是安全的。
The post Is BCE Stock or Enbridge Stock a Better Buy for Passive Income? appeared first on The Motley Fool Canada.
“BCE股票或Enbridge股票哪个更适合被动收入?”一文最初发布于The Motley Fool Canada。