My Top Renewable Energy Stock to Buy Right Now
If Wall Street is in love with a company or a sector, I tend to shy away from it. So I don't own anything that would be confused with a renewable power stock right now. But that doesn't mean I don't have exposure to the sector, with a couple of utilities, a transitioning oil giant, and giant North American pipeline operator Enbridge (NYSE: ENB). That last one is my favorite "renewable power" holding right now, and it's still on sale. Here's why.
Roughly 83% of Enbridge's earnings before interest, taxes, depreciation, and amortization (EBITDA) is derived from oil and natural gas pipelines. Another 14% comes from a natural gas distribution business, which is basically utility-like in nature. A "huge" 3% comes from renewable power. Most investors would look at those figures and tell me that I'm crazy to view this as a renewable power play. But hear me out.
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Source Fool.com
