For dividend investors, it's an opportunity to buy the stock for an even higher dividend than normal. The company recently hiked its quarterly payouts to $0.81 and that means investors can now earn an annual yield of 8.7% per year.
A low price of oil will cause more problems for the industry and that will inevitably trickle down to Enbridge as well.
It's a bit of a gamble for dividend investors because the current situation is the least likely to persist over the long haul.
Unfortunately, when you also factor in the coronavirus into the equation, there's more reason for investors to be bearish than bullish on Enbridge and the oil and gas sector in Canada.
The safer option for investors is to wait for there to be signs that there's some strength in oil prices before taking a chance on a dividend stock like Enbridge that has so much exposure to oil and gas.