Enbridge (NYSE:ENB) Stock

Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

Canada’s Part In The Plans

Opinion

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STLA

Trump plans to impose tariffs on Canada, causing businesses to scramble. Auto industry, energy, agriculture, and manufacturing will be impacted.

5 Stocks That Could Suffer With Canadian Tariffs

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Earnings

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NVDA

TSLA

Dow Jumps Over 300 Points Following Recent Inflation Data; Investor Sentiment Improves, Fear &amp; Greed Index Moves To &#39;Neutral&#39; Zone

DKNG

PANW

Palo Alto Networks, Moderna And 3 Stocks To Watch Heading Into Friday

Enbridge Inc

ENBRIDGE INC 5.50% PFD A by Enbridge Inc.

ENBRIDGE INC PREF SER 13 by Enbridge Inc.

ENB FINANCIAL CORP PA by ENB Financial Corp.

ENB Financial Corp

ENBRIDGE INC RE PRF SER 7 by Enbridge Inc.

ENBRIDGE CUM PREF SR 9 by Enbridge Inc.

RBC Capital analyst Maurice Choy maintains Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) with a Outperform and raises the price target from $63 to $67.

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Enbridge, Raises Price Target to $67

Trump&#8217;s plans to place tariffs on Canada has come as a surprise, and many businesses are scrambling to deal with the potential fallout.
President Trump gave little indication that Canadian tariffs were on the table during his campaign, but now our northerly neighbors face tariffs of as much as 25% on all goods crossing into the United States.
Trump and Canadian Prime Minister Justin Trudeau reached a deal to delay the tariffs until March, but the threat of increased costs is already causing some companies to take action &#8211; and Canadian consumers to boycott US products.
Here are the five companies that will suffer the most from this surprise trade war.
During the company's recent earnings conference call, Ford CEO Jim Farley said that prolonged tariffs on Canada and Mexico would have a <a href="https://www.benzinga.com/tech/25/02/43524700/ford-ceo-jim-farley-says-trumps-proposed-tariffs-on-mexico-canada-will-be-manageable-in-near-term-but-will-have-huge-impact-if-protracted">significant impact</a> on the US auto industry. But it's not just the auto industry that's come to rely on trading partners. Energy, agriculture, and manufacturing are other sectors that will be affected by increased costs from Canadian goods.
Today, we'll examine five stocks that heavily rely on Canadian imports. Although these companies are in different industries, all would face pressure if the maximum 25% tariff is enacted.
<h2 class="wp-block-heading">Molson Coors Beverage Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>)</h2>
Molson Coors could be hit twice by tariffs since the company imports not only Canadian beers to the United States but also aluminum for cans of domestically produced beverages. Molson is responsible for several popular beers like Molson Canadian and Molson Dry. The company would also be at risk of retaliatory tariffs as Coors Light, Miller Genuine Draft, and Blue Moon are also popular beverages imported to Canada from the United States.
The tariff threat comes at an inopportune time for Molson Coors, as the company reported a top and bottom line beat on its February 13 earnings report but projects <a href="https://www.benzinga.com/news/25/02/43688209/molson-coors-sees-fy25-net-sales-low-single-digit-increase-versus-2024-on-a-constant-currency-basis">low single-digit sales growth</a> over the full 2025 year.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="317" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165314/MCB-1024x317.png" alt="" class="wp-image-783941" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165314/MCB-1024x317.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165314/MCB-300x93.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165314/MCB-768x238.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165314/MCB.png 1244w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
TAP shares have been in a tailspin since Thanksgiving, dropping from $62 to $53 before the recent earnings jump. Despite the quality report, this could be an excellent spot to unload the stock before the Trump administration hits Canada with forceful tariffs. Based on Benzinga's market search, TAP shares are covered by 27 different analysts with an average rating of Hold and a consensus price target of $62.&nbsp;
<h2 class="wp-block-heading">Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>)</h2>
The auto industry is at the highest risk of pain from tariffs, and Stellantis could face pressure from several angles. The company was formed when Chrysler merged with the French manufacturer PCA Group and currently makes Chrysler, Dodge, Ram, and Jeep vehicles in North America. Unfortunately, Stellantis production occurs in countries where the Trump administration has threatened harsh tariffs, namely Canada, Mexico, and the European Union.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="317" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165330/STE-1-1024x317.png" alt="" class="wp-image-783943" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165330/STE-1-1024x317.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165330/STE-1-300x93.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165330/STE-1-768x238.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165330/STE-1.png 1244w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Stellantis currently has two manufacturing plants in Canada, located in Toronto and Windsor. The Toronto plant produces engine and transmission parts and aluminum die castings, while the Windsor plant manufactures Chrysler Pacifica and Dodge Charger vehicles (yes, the Charger is made in Canada, not the United States). STLA shares have plummeted since making an early 2024 high, and the stock is trading firmly below its 50-day and 200-day moving averages. And to pile on the bearish sentiment, Barclays and RBC Capital both downgraded the stock to Neutral last October.
<h2 class="wp-block-heading">Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>)</h2>
The auto industry is in crisis mode following the tariff announcements, but most of the focus has been on car manufacturers like Stellantis, Ford, and General Motors. However, the after-market car part business is another central industry area, and many DIY car projects will become more expensive if 25% tariffs on Canada take effect.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="317" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165351/AAP-1024x317.png" alt="" class="wp-image-783944" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165351/AAP-1024x317.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165351/AAP-300x93.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165351/AAP-768x238.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165351/AAP.png 1244w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The three major DIY auto parts stores in the United States are AutoZone, O'Reilly Automotive, and Advance Auto Parts. Right now, AAP looks to be in the worst shape. The company saw its revenue growth decline by 3% over the last 12 months, while AZO and ORLY each increased revenue year over year. AAP also has the slowest inventory turnover, the smallest free cash flow pile, and the highest price-to-earnings ratio of the three primary auto parts dealers. The Relative Strength Index (RSI) and 50-day and 200-day moving averages also continue sending bearish signals, so avoid AAP shares until the tariff threat fades.
<h2 class="wp-block-heading">D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>)</h2>
D.R. Horton is the biggest homebuilder in the United States, and the firm has been sounding some alarms about housing costs in the face of tariffs and declining workforce participation. Lumber imports from Canada are key to homebuilders like DHI, and house buyers are already stretched thin by high prices and 7% mortgage rates. It is unlikely homebuilders have much more room to pass costs onto consumers, which could further exacerbate a tepid US housing market.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="319" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165357/DR-1024x319.png" alt="" class="wp-image-783945" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165357/DR-1024x319.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165357/DR-300x93.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165357/DR-768x239.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165357/DR.png 1252w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
DHI stock has dropped from $156 to $129 in the span of just a few weeks, thanks to pressure on housing inputs like lumber, steel, and aluminum. Analysts are also becoming more bearish on homebuilders as Bank of America <a href="https://www.benzinga.com/25/01/43246599/bofa-downgrades-dr-horton-and-smith-douglas-citing-cost-pressures-and-weak-roe-outlook">downgraded the stock</a> immediately following inauguration day, citing rising costs and weak return on equity. DHI posted a bad earnings and revenue miss in Q3 2024 but rebounded with a top and bottom line beat in Q4. This earnings boost could provide an exit ramp for investors who aren't optimistic about housing in 2025.
<h2 class="wp-block-heading">Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>)</h2>
Energy is another sector at the forefront of tariff troubles, and Enbridge Inc. is one of the pipeline providers in the crosshairs. Enbridge is a major exporter of crude oil, natural gas, and renewables to the United States through its network of pipelines, distribution systems, and storage facilities. However, if the Trump administration is serious about cutting down on Canadian energy imports, ENB shares could also tumble from their current levels.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="319" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165419/ENB-1024x319.png" alt="" class="wp-image-783946" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165419/ENB-1024x319.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165419/ENB-300x93.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165419/ENB-768x239.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/14165419/ENB.png 1252w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
From a technical perspective, the RSI could hint at ENB stock's next move. Following the early February drawdown, the share price quickly rebounded to mid-January levels, but a divergence emerged as the RSI made a strong pivot downward after nearing 70, which is the traditional signal for an overbought stock. With technical and fundamental headwinds in play, ENB shares could struggle to maintain their momentum in 2025.
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WIIM

Enbridge shares are trading lower after the company reported worse-than-expected Q4 adjusted EPS results.

Guidance

Enbridge Reaffirms 2025 Guidance For Adjusted EBITDA Of C$19.4B-C$20B And DCF Per Share Of C$5.50-C$5.90

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.54 per share which missed the analyst consensus estimate of $0.75 by 28.53 percent. This is a 14.04 percent increase over earnings of $0.47 per share from the same period last year.

Earnings Misses

Enbridge Q4 2024 Adj. EPS $0.54 Misses $0.75 Estimate

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, with the index moving to the &#8220;Neutral&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the Dow Jones index jumping over 300 points as investors monitored recent inflation data and updates on tariff plans.
The Producer Price Index surged 3.5% year over year in January, according to Thursday's release from the Bureau of Labor Statistics. U.S. initial jobless claims declined by 7,000 from the previous week to 213,000 during the first week of February, down from market estimates of 215,000.
Some big tech stocks provided a boost to markets on Thursday, with shares of NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gaining over 3% after HPE announced the first shipment of the company&#8217;s Grace Blackwell System. AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) shares jumped 24% after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) also added 5.8% during the session following upbeat analyst calls on the stock as well as news over new EV taxes to finance road repairs which could impact its rivals.
All sectors on the S&amp;P 500 closed on a positive note, with materials, consumer discretionary and information technology stocks recording gains on Thursday.
The Dow Jones closed higher by around 343 points to 44,711.43 on Thursday. The S&amp;P 500 climbed 1.04% to 6,115.07, while the Nasdaq Composite jumped 1.50% at 19,945.64 during Thursday's session.
Investors are awaiting earnings results from Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) today.
At a current reading of 46.7, the index moved to the &#8220;Neutral&#8221; zone on Thursday, versus a prior reading of 43.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/02/43692962/top-3-consumer-stocks-you-may-want-to-dump-in-february">Top 3 Consumer Stocks You May Want To Dump In February</a></li>
</ul>

Dow Jumps Over 300 Points Following Recent Inflation Data; Investor Sentiment Improves, Fear & Greed Index Moves To 'Neutral' Zone

With U.S. stock futures trading slightly higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) to report quarterly earnings at 52 cents per share on revenue of $4.78 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Enbridge shares gained 1% to $45.90 in after-hours trading.</li>
<li>Palo Alto Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) reported upbeat second-quarter financial results after the market close on Thursday. The company said it expects fiscal third-quarter revenue to be in the range of $2.26 billion to $2.29 billion. The company expects third-quarter adjusted earnings to be between 76 cents and 77 cents per share. Palo Alto shares dipped 5.1% to $191.59 in the after-hours trading session.</li>
<li>Analysts are expecting Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) to post a quarterly loss at $2.68 per share on revenue of $942.84 million. The company will release earnings before the markets open. Moderna shares rose 2.8% to $32.82 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) posted better-than-expected earnings for its fourth quarter, while sales missed estimates. The company also raised its full-year 2025 revenue guidance to a range of $6.3 billion to $6.6 billion, up from a prior range of $6.2 billion to $6.6 billion. DraftKings shares climbed 5.5% to $49.00 in the after-hours trading session.</li>
<li>Analysts expect Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) to post quarterly earnings at $1.52 per share on revenue of $10.34 billion before the opening bell. Magna International shares gained 2.5% to $40.65 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/02/43692962/top-3-consumer-stocks-you-may-want-to-dump-in-february">Top 3 Consumer Stocks You May Want To Dump In February</a></li>
</ul>

<h3>Companies Reporting Before The Bell</h3>
• American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) is likely to report quarterly loss at $0.16 per share on revenue of $1.39 billion. 
• Newmark Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMRK#NASDAQ">NMRK</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $790.76 million. 
• Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $4.78 billion. 
• Treehouse Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) is projected to report quarterly earnings at $0.97 per share on revenue of $907.90 million. 
• Moderna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) is expected to report quarterly loss at $2.72 per share on revenue of $951.09 million. 
• TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) is expected to report quarterly earnings at $0.68 per share on revenue of $2.43 billion. 
• Essent Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESNT#NYSE">ESNT</a>) is estimated to report quarterly earnings at $1.65 per share on revenue of $313.88 million. 
• Fortis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTS#NYSE">FTS</a>) is likely to report quarterly earnings at $0.57 per share on revenue of $2.08 billion. 
• MISTRAS Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MG#NYSE">MG</a>) is estimated to report quarterly earnings at $1.52 per share on revenue of $10.32 billion. 
• Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) is likely to report quarterly earnings at $1.52 per share on revenue of $10.32 billion. 
• Marcus &amp; Millichap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMI#NYSE">MMI</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $199.80 million. 
• AMC Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) is estimated to report quarterly earnings at $1.05 per share on revenue of $611.26 million. 
• Zoomcar Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) is likely to report earnings for its third quarter. 
• BGC Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGC#NASDAQ">BGC</a>) is likely to report quarterly earnings at $0.25 per share on revenue of $570.00 million. 
• Portland Gen Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) is expected to report quarterly earnings at $0.35 per share on revenue of $663.32 million. 
• Sensient Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SXT#NYSE">SXT</a>) is expected to report quarterly earnings at $0.64 per share on revenue of $375.10 million. 
<h3>Companies Reporting After The Bell</h3>
• Clipper Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLPR#NYSE">CLPR</a>) is likely to report quarterly earnings at $0.14 per share on revenue of $38.70 million. 
• SolarBank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUUN#NASDAQ">SUUN</a>) is expected to report quarterly loss at $0.01 per share on revenue of $16.44 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMCX

CLPR

ESNT

NMRK

SUUN

ZCAR

Earnings Scheduled For February 14, 2025

President Donald Trump's announced tariffs on Canada, Mexico and China could impact many sectors and see retailers and companies raising prices on consumers to offset<a href="https://www.benzinga.com/markets/25/02/43423288/trumps-tariffs-are-here-heres-what-will-get-more-expensive-from-canada-china-and-mexico"> the higher prices.</a>
Here's a look at the sectors and stocks that could be hurt the most by Trump's tariffs and retaliatory efforts by the three countries back on the U.S.
What Happened: Trump <a href="https://www.benzinga.com/government/regulations/25/02/43427091/as-trump-imposes-tariffs-on-americas-3-largest-trading-partners-this-macro-strategist-call">announced 25% tariffs </a>on imports from Canada and Mexico along with a 10% tariffs on items imported from China. Trump and Mexican President Claudia Sheinbaum announced Monday the U.S. tariffs on Mexico have been paused for one month. 
Canada fought back with retaliatory measures on U.S. imports.
Trump said he spoke with Canadian Prime Minister Justin Trudeau and plans to speak to the leader again at 3 p.m. ET Monday.
The tariffs were met with anger in Canada where sports fans booed the playing of &#8220;The Star-Spangled Banner,&#8221; the U.S. national anthem, at NBA and NHL sporting events over the weekend, as reported by <a href="https://deadline.com/2025/02/u-s-national-anthem-booed-nhl-nba-games-canada-tariffs-1236276207/">Deadline</a>.
NBA and NHL games involving teams from both countries typically play national anthems ahead of games.
Goods and Sectors Impacted: Here's a look at the top imports from Canada, Mexico and China that will be impacted if the tariffs stick.
Beer and Spirits: One of the companies that <a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">could be hit hardest</a> by the tariff news is Constellation Brands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), an alcohol company that holds the exclusive U.S. license for several of the top imported beer brands in America. Constellation imports brands like Modelo, Corona and Pacifico from Mexico, where they are brewed by Grupo Modelo, which is a unit of Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>).
Modelo is the top imported beer in the U.S., with Corona ranking second. Heineken and Dos Equis XX, which are imported by Heineken USA, a unit of Heineken NV (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HEINY#OTC">HEINY</a>), ranked third and fourth on the list of top imported beers. Dos Equis is manufactured in Mexico and imported to the U.S.
Constellation stock is down around 40% since it was flagged as a company to see pressure from tariffs back in November.
The U.S. is also a large importer of tequila, a sector that could be hit hard by tariffs on Mexico.
Read Also: <a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Costco Warns That Tariffs Raise Prices, Trump Team Says Trade Policies Will &#8216;Make Life Affordable&#8217;</a>
Automotive: Several automotive companies like Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Honda Motor Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) <a href="https://www.benzinga.com/government/regulations/24/12/42688941/are-us-vehicles-under-30000-a-thing-of-the-past-trumps-mexico-tariff-plans-could-change-auto-market">have sub-$30,000 vehicles</a> that are partially or fully built in Mexico and Canada. Tariffs on these countries could quickly make these sub-$30,000 vehicles cost more for consumers and eliminate options in the popular starting price point.
Avocados: American imports over 80% of its avocados from Mexico, which could lead to higher prices ahead of Super Bowl Sunday on Feb. 9, as <a href="https://nypost.com/2025/02/02/us-news/whats-going-to-get-hit-by-trumps-tariffs-avocados-modelo-and-iphones/">reported </a>by the New York Post. Stocks that could be impacted by higher avocado costs are Mission Produce Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>), Calavo Growers, Inc. (NASDDAQ: CVGW) and Limoneira Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LMNR#NASDAQ">LMNR</a>).
Fruits and Vegetables: Canada is the largest supplier of cherry tomatoes for the U.S., which could see higher produce costs for consumers and restaurants.
Smartphones: China is one of the largest exporters of smartphones to the U.S., accounting for an estimated 87% of production according to the report. The iPhone from Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has 95% of production assembled in China as of 2023.
Toys: The Toy Association industry group estimates that 75% of all imported toys come from China, making the sector one area that could be significantly hit by higher tariffs. Hasbro Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) and Mattel Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) are two stocks that could see pressure with the tariffs impacting one of their key sectors. &nbsp;
Clothing: Imported clothes from e-commerce companies including Shein and PDD Holdings &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) brand Temu will see higher prices with the tariff on China. Canadian clothing companies Aritzia and Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) will also be impacted by the tariff news. 
The footwear portion of the clothing sector could see the biggest impact with the Footwear Distributors &amp; Retailers of America estimating that 99% of shoes sold in the U.S. are imported. Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) could be among the companies hit hardest by the tariff news.
Construction: The American Iron and Steel Institute estimates that 25% of American steel comes from Canada and 12% comes from Mexico, which means steel prices could go up. Canadian lumber is also a large export to the U.S., which makes up around 30% of all lumber the country uses. Other construction items like drywall, lime and gypsum come from Mexico, which will put more pressure on homebuilders. The tariffs could lead to home prices going up and putting further pressure on the sector.
Oil: The U.S. is a large importer<a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact"> of Canadian oil.</a> While oil will only see a 10% tariff compared to the 25% on other Canadian goods, the sector could likely see a large impact. Companies like Suncor Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Pipelines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>)&nbsp;could face significant impacts from the tariffs and a potential blow to the sector.
Transportation: Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could be impacted by the tariffs and negative impact on trade between the United States and Canada.
Retailers: Dollar stores and discount retailers like Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) could be<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act"> impacted by the tariffs.</a> Executives warned of the potential impact in late 2024 with the goal of offsetting the higher prices with new product sizes and negotiating lower costs with suppliers. The company also said it would consider stopping the sale of several items due to the planned tariffs.
Price Actions on Monday at publication: The iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) is down 1.46% to $40.62.
The iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) is up 2.12% to $50.02.
The iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>) is down 0.29% to $48.27.
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</ul>
Photo: Visuals6x via Shutterstock

Politics

Global

Movers

ETFs

AAPL

CVGW

DLTR

HEINY

LMNR

LULU

MCHI

ODFL

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Why Beer, Tequila, Avocados, Cars, iPhone Prices Could Rise: Trump's Tariffs On Canada, Mexico, China To Hurt Several Sectors

The past month has been a rollercoaster ride for investors, with markets taking a beating across the board. From December 15 to January 15, the S&amp;P 500 dropped 4.33%, the Nasdaq fell 4.71%, and small-cap stocks got hammered, tumbling around 8%. The bond market wasn&#8217;t spared either, with long-term Treasury bonds diving 7.67%. Even the typically resilient triple-B corporate bonds fell 3.4%, though high-yield bonds held up better, declining just 1.5% to 1.8%.
It&#8217;s been a challenging period for traditional stock-and-bond investors. Yet the Easy Income Portfolio proved its mettle. While broader markets stumbled, the portfolio declined only 2.5%, supported by its robust 9.38% dividend yield. This yield towers over Treasuries, junk bonds, and the S&amp;P 500. The key? A diversified mix of high-quality, income-generating investments spread across sectors that zig when others zag.
Sector Highlights:
<ol start="1">
<li>Mortgage REITs (REM): These took a significant hit, down 8.65%, reflecting broader challenges in real estate debt markets. </li>
<li>Nuveen Real Asset Income and Growth Fund (Ticker: JRI): Declined notably, despite its diversified exposure to real assets like infrastructure, real estate, and energy. The fund&#8217;s holdings in premier companies such as Simon Property Group, Realty Income, and Energy Transfer illustrate its high-quality asset base. </li>
<li>Aberdeen Asia-Pacific Income Fund: Down 6%, this closed-end fund offers exposure to high-grade sovereign and corporate debt in the Asia-Pacific region, acting as both a dollar hedge and an income-generating asset. </li>
<li>Business Development Companies (BDCs): BDCs like Ares Capital, Blackstone Secured Lending, and FS KKR Capital remain core holdings. These entities leverage their deep private equity relationships to maintain credit quality and deliver strong dividends. </li>
<li>Energy Infrastructure: Investments like Dorchester Minerals and Tortoise Energy Infrastructure have performed well, capturing benefits from increased energy demand and the reorganization of global energy markets. </li>
<li>Closed-End Fund and SPAC Arbitrage: Exposure to these strategies helps add diversification and reduce overall volatility.</li>
</ol>
Mortgage REITs: A Tough Month Mortgage REITs (REM) bore the brunt of market turbulence, dropping 8.65%. That&#8217;s not a fun number to see, but it&#8217;s par for the course in a volatile interest rate environment. These REITs, which invest in residential and commercial mortgage securities, remain a core piece of the portfolio, offering high yields to counterbalance periods of price volatility.
Real Asset Income: A Hidden Opportunity The Nuveen Real Asset Income and Growth Fund (JRI) also faced pressure, declining around 8%. This fund gives you a one-stop shop for exposure to real assets, including infrastructure, real estate, and energy. Think Simon Property Group, Realty Income, Energy Transfer, and Enbridge—some of the best operators in their respective fields.
Simon Property Group Simon Property Group (Ticker: SPG) is the premier operator of Class A malls in the United States, owning high-end shopping centers in affluent, densely populated areas. Unlike struggling Class B and C malls, Simon&#8217;s properties thrive as destinations for luxury shopping, dining, and entertainment.
Simon maintains high occupancy rates, typically in the mid-90% range, driven by the desirability of its properties. Its tenant base spans luxury brands and experiential anchors, reinforcing its status as the leader in mall-based real estate.
Realty Income Known as &#8220;The Monthly Dividend Company,&#8221; Realty Income owns over 13,000 properties across the U.S. and Europe. These properties are leased to high-quality tenants under long-term triple-net leases, where tenants cover taxes, insurance, and maintenance.
Key tenants and sectors include:
<ul>
<li>Convenience Stores: 7-Eleven </li>
<li>Pharmacies: (Ticker: CVS) Walgreens </li>
<li>Big Box Retailers: Home Depot (Ticker: HD) Walmart (Ticker: WMT) </li>
<li>Entertainment and Dining: AMC Theatres (Ticker: AMC) Chick-fil-A</li>
</ul>
Enbridge (Ticker: ENB) is one of North America&#8217;s largest energy infrastructure companies. Its extensive asset base includes over 83,000 miles of crude oil, natural gas, and liquids pipelines that span Canada and the U.S. Enbridge also operates natural gas utility businesses, serving millions of customers in Ontario and Quebec, and is a leader in renewable energy investments, with wind and solar farms contributing to its diversified energy portfolio.
Energy Transfer Energy Transfer owns a vast network of energy infrastructure assets, including 120,000 miles of pipelines for natural gas, crude oil, natural gas liquids, and refined products. The company operates major storage facilities, processing plants, and export terminals, including the Marcus Hook Industrial Complex, a key hub for exporting natural gas liquids to global markets.
One of Energy Transfer&#8217;s standout assets is its LNG export capability, which positions the company to benefit from growing global demand for U.S. liquefied natural gas. Its pipelines and storage facilities are critical links in the supply chain, ensuring the movement of energy products from production basins like the Permian and Marcellus to end users.
These infrastructure giants, Enbridge and Energy Transfer, play essential roles in the energy economy, transporting and storing the resources that power homes, businesses, and industries. Their scale, diversified revenue streams, and regulated nature make them resilient income generators, which is exactly what we seek in the Easy Income Portfolio.
Asia-Pacific Debt: A Dollar Hedge Aberdeen Asia-Pacific Income Fund also had a rough month, down 6%. This closed-end fund invests in high-grade sovereign and corporate debt from countries like Australia, India, and Indonesia. With 13% dividend yields and limited default risk, it&#8217;s a great income producer and a natural hedge against a weakening U.S. dollar.
Business Development Companies: A Core Strength The portfolio&#8217;s BDC holdings, including Ares Capital, Blackstone Secured Lending, and FS KKR, continue to shine. These firms lend to small and mid-sized businesses, a segment set to thrive under pro-business policies. Their private equity relationships provide a massive competitive edge, ensuring they know the borrowers inside and out. Add in an 11% yield, and these BDCs are delivering exactly what we want—steady income with a margin of safety.
The Easy Income Philosophy The Easy Income Portfolio isn&#8217;t about chasing short-term gains or checking prices daily. It&#8217;s about creating a low-volatility, high-income portfolio that practically runs itself. With positions across 15 sectors, from infrastructure and energy to private credit and real estate, the portfolio delivers reliable cash flow through monthly dividends.
This month showed why diversification and a focus on income are essential. Even as markets faltered, the Easy Income Portfolio kept humming along, providing a steady income stream while staying positioned for long-term success.

Easy Income Portfolio: January 2025 Update

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Compass Point analyst Floris Van Dijkum initiated coverage on Curbline Properties Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURB#NYSE">CURB</a>) with a Neutral rating and announced a price target of $24. Curbline Properties shares closed at $23.45 on Tuesday. <a href="https://www.benzinga.com/quote/CURB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>TD Securities analyst Aaron Macneil initiated coverage on Enbridge (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) with a Buy rating and announced a price target of C$66. <a href="https://www.benzinga.com/quote/ENB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Andrew Jeffrey initiated coverage on Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) with an Outperform rating. Affirm shares closed at $55.35 on Tuesday. <a href="https://www.benzinga.com/quote/AFRM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Securities analyst Aaron Macneil initiated coverage on TC Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TRP#TSX">TRP</a>) with a Buy rating and announced a price target of C$73. <a href="https://www.benzinga.com/quote/TRP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>William Blair analyst Andrew Jeffrey initiated coverage on SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) with an Outperform rating. SoFi Techs shares closed at $14.50 on Tuesday. <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying AFRM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="645" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15091246/image-99-1024x645.png" alt="" class="wp-image-734811" style="width:608px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15091246/image-99-1024x645.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15091246/image-99-300x189.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15091246/image-99-768x484.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/15091246/image-99.png 1097w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Initiation

AFRM

CURB

SOFI

TSX:ENB

TSX:TRP

This Affirm Holdings Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday

President-elect Donald Trump has made tariffs one of the most talked about items ahead of his inauguration on Jan. 20. So far, he has not backed down from plans to place or increase tariffs on <a href="https://www.benzinga.com/topic/tariffs">various trade partners</a>, including Canada, Mexico and China.
What Happened: On Tuesday, Trump took things a step further by naming a new agency tasked with overseeing tariffs.
"For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Though soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves," Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113827650534234057">said </a>in a post on Truth Social. "I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties and all Revenue that come from Foreign sources."
Trump intends for Jan. 20 — inauguration day — to be the birthdate for the so-called &#8220;External Revenue Service.&#8221; Normally, a new law would need to be passed first to create a new bureau or statutory body.
"We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,&#8221; Trump added. 
It&#8217;s worth noting that the U.S. Customs and Border Protection (CBP), under the Department of Homeland Security, already oversees tariffs and revenue from foreign countries. Its key functions include collecting customs duties and tariffs. The CBP also enforces trade laws and ensures revenue accountability as one of the federal government's largest revenue collectors.
Meanwhile, Democratic lawmakers are already scrutinizing Trump&#8217;s External Revenue Service plan. "No amount of silly rebranding will hide the fact that Trump is planning a multi-trillion-dollar tax hike on American families and small businesses to pay for another round of tax handouts to the rich," Oregon Sen. Ron Wyden, the top Democrat on the Senate Finance Committee, <a href="https://www.finance.senate.gov/chairmans-news/wyden-statement-on-trumps-so-called-external-revenue-service">said</a> in a statement.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent011425">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Trump's plans to place tariffs on three of the country's largest trade partners have led to many question marks on how the other countries will respond and if items will get more expensive for American consumers as a trade off.
<a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Retail executives</a> Costco Wholesale (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) and Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) have already warned about tariffs on earnings calls. Tariffs <a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">could mean higher prices</a> for consumers, less product assortment or a change to product sizes, they say.
Trump joked that Canada <a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact">could become the</a> 51st state of America to avoid tariffs. While the country <a href="https://apnews.com/article/canada-trump-chretien-51st-state-ad9749047d0b627eed56be22f43ea7cd">isn't ready</a> to do that, a new report signals the country could be working on avoiding the tariffs.
Canadian ambassador Kirsten Hillman said Canada is prepared to buy more items from the U.S., as <a href="https://apnews.com/article/canada-ambassador-us-trump-hillman-9ced5ba12cd6526a2bbb4a810fa9af18">reported </a>by the Associated Press. The move would ensure that there is not a deficit for America in its trade with Canada.
Hillman warned that a plan to put tariffs on all Canadian products will lead to prices going up for Americans.
"And at a time when the cost of living is challenging, when food prices are high, it seems like the wrong direction to go in," Hillman said.
Top items exported from Canada to the U.S. include oil, gas and automotive parts. These industries could see higher-priced goods under Trump's tariff plan.
Large Canadian oil companies Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) could face significant impacts from the tariffs and a potential blow to the sector.
Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could also be impacted by the tariffs and the negative impact on trade between the United States and Canada.
Mexican President Claudia Sheinbaum has recently shown a serious focus on migration and security, two of Trump's vocal demands to keep the U.S. from placing tariffs on the country, as reported by Reuters.
Sheinbaum has <a href="https://www.benzinga.com/markets/cannabis/25/01/42895985/trump-and-mexican-president-sheinbaum-spirited-clash-over-territorial-renaming-tariffs-and-cartels">publicly sparred with Trump</a>, but it remains to be seen if she will be able to avoid tariffs for Mexico.
Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Honda Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) are among the automotive companies that <a href="https://www.benzinga.com/government/regulations/24/12/42688941/are-us-vehicles-under-30000-a-thing-of-the-past-trumps-mexico-tariff-plans-could-change-auto-market">have sub-$30,000 vehicles </a>that are partially or fully built in Mexico and Canada.
Higher tariffs on China could rattle the American economy as the country remains a major source of many exported goods. To get ahead of potential tariff increases, China saw its exports up 10.7% in the month of December, NPR <a href="https://www.npr.org/2025/01/13/nx-s1-5258024/china-exports-us-tariffs">reported</a>.
The growth was higher than estimates of 7% and could show that companies and China are taking proactive approaches to get ahead of higher-costing goods.
ETF Price Action: The iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) is up 0.3% to $39.94 on Tuesday. The ETF is up 11% over the last year and down 4.5% over the last month.
The iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) is up 1.5% to $48.15 on Tuesday. The ETF is down 25.3% over the last year and down 6.4% over the last month.
The iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>) is up 2.3% to $44.89 on Tuesday. The ETF is up 19.2% over the last year and down 5.5% over the last month.
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<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
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Image: Shutterstock

Specialty ETFs

COST

Trump Wants Trade Partners To 'Start Paying,' Plans External Revenue Service To Oversee Tariffs

Canadian Prime Minister Justin Trudeau, who has been in power for nearly 10 years, announced his resignation Monday.
Trudeau said he will step down after the Liberal Party selects its new leader and said the Parliament will be suspended until March 24.
"I care deeply about this country and I will always be motivated by what is in the best interests of Canadians. And the fact is, despite best efforts to work through it, Parliament has been paralyzed for months after what has been the longest session of a minority Parliament in Canadian history," he said. 
<h2 class="wp-block-heading">Canada Stocks To Watch With Trump Tariff Threats, Trudeau Exit On Horizon </h2>
U.S.-traded stocks of major Canadian companies, particularly in the financial and energy sectors, could experience volatility due to this political upheaval. Mexico, Canada and China — the three countries U.S. President-elect Donald Trump has targeted for tariffs — are the U.S.'s top three trading partners.
Canadian banking institutions traded in the U.S. include the : Royal Bank of Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RY#NYSE">RY</a>), Toronto-Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>), Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) and the Canadian Imperial Bank of Commerce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CM#NYSE">CM</a>).
Energy companies could also be affected by the political upheaval in Canada: they include e Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), TC Pipelines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>), Suncor Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>) and Canadian Natural Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>).
In the tech sector, Ottawa-based Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) is trading up 3.7%.
Trudeau's announcement comes shortly after the resignation of Finance Minister Chrystia Freeland, who <a href="https://www.benzinga.com/news/global/24/12/42520833/trudeaus-government-loses-a-top-negotiator-ahead-of-trumps-second-term">stepped down</a> in mid-December due to disagreements with Trudeau&#8217;s spending proposals. Freeland, who also served as deputy prime minister, left the cabinet because she believed Trudeau was not taking adequate measures to prepare for a <a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">potential trade war</a> with Washington.
Canadian ETFs likely to be affected by this political firestorm, according to <a href="https://www.benzinga.com/money/etf-canada">Benzinga Pro</a>, include <a href="https://www.benzinga.com/quote/BBCA" target="_blank" rel="noreferrer noopener">JPMorgan BetaBuilders Canada ETF</a> (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBCA#BATS">BBCA</a>) which is trading up 0.9%; the iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), up 0.79%; SPDR Solactive Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZCAN#NYSE">ZCAN</a>), up 0.88%; and Invesco CurrencyShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>), up 0.59%. The <a href="https://www.benzinga.com/quote/FLCA" target="_blank" rel="noreferrer noopener">Franklin FTSE Canada ETF</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) is trading 0.95% higher midday Monday.
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</ul>
Photo: Shutterstock.

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Economics

BBCA

FLCA

SHOP

ZCAN

Justin Trudeau Will Step Down As Canada Faces Tension Over Trump Tariffs

RBC Capital analyst Maurice Choy reiterates Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) with a Outperform and raises the price target from $59 to $63.

Reiteration

RBC Capital Reiterates Outperform on Enbridge, Raises Price Target to $63

President-elect Donald Trump and Canadian Prime Minister Justin Trudeau&#8216;s meeting last week about planned tariffs on Canada was said to be productive, but it could put several Canadian sectors <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">on high alert.</a>
What Happened: Trudeau flew to Mar-a-Lago to <a href="https://www.benzinga.com/media/24/11/42252924/canadian-pm-justin-trudeau-warns-trumps-25-tariff-plan-will-hurt-americans-at-high-stakes-dinner">meet with Trump</a>, and the two political leaders ate dinner and discussed several key topics before Trump's January inauguration.
The meeting took place after Trump promised to impose 25% tariffs on Canada when he was sworn into office.
Trudeau told Trump the tariffs would hurt Canada's economy, according to sources at the dinner table, <a href="https://www.foxnews.com/politics/trump-suggests-canada-become-51st-state-after-trudeau-said-tariff-would-kill-economy-sources">per </a>Fox News.
The tariffs are being placed on Canada and Mexico due to illegal immigrants and illegal drugs flowing from those countries to the United States.
Sources said Trump was direct regarding his conversation with Trudeau, telling the Canadian leader that his country has failed to protect the border. Trump also wants to eliminate the trade deficit with Canada, estimated to be around $100 billion, according to the sources.
"So your country can't survive unless it's ripping off the US to the tune of $100 billion?" Trump reportedly said to Trudeau about the trade deficit.
The report said that if Canada can't survive with the requirements of protecting the border and fixing the trade deficit, Trump suggested that the neighboring country could become the 51st state instead.
Trudeau and others at the table nervously laughed at the suggestion, with Trump reportedly adding that the title of prime minister is better than governor. As the meeting concluded, talks between Trump and Trudeau were said to have been "very positive."
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Why It's Important: The report said Trump told Trudeau he expected changes to be made ahead of his January inauguration, or the tariffs would be placed on Canada on his first day in office.
A tariff on Canada could impact several sectors, including some of the top exporters to the United States. Crude oil, petroleum gas, vehicles, car parts, machinery, turbines, plastics, pharmaceuticals, metals and agricultural products are among the top exported items from Canada to America, as <a href="https://www.washingtonpost.com/business/2024/11/26/what-us-imports-canada-mexico-china-trump-tariffs/">reported </a>by the Washington Post.
Large Canadian oil companies Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) could face significant impacts from the tariffs and a potential blow to the sector.
Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could also be impacted by the tariffs and the negative impact on trade between the United States and Canada.
Canadian ETFs like the iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), JPMorgan BetaBuilders Canada ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBCA#BATS">BBCA</a>), Franklin FTSE Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) and Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) could also be impacted by the potential trade war.
Canada is the second-largest trade partner with the United States, with $418 billion in goods imported from Canada in 2023 and $354 billion in goods exported to the country.
Goldman Sachs economists predict that Canada's gross domestic product<a href="https://www.benzinga.com/24/12/42291861/trumps-tariff-plan-risks-economic-pain-for-north-america-goldman-sachs-warns" target="_blank" rel="noopener"> could decline</a> by as much as 4% if Trump&#8217;s 25% tariff plan is enacted. The plan could also hurt the U.S. GDP, the analysis said.
"A large increase in tariffs on North American imports would entail significant economic costs, particularly for Canada and Mexico," Goldman Sachs economists said.
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Photo: Shutterstock

Trump Told Trudeau Canada Could Dodge Tariffs As 51st State: Which Sectors Could Be Hit

HIGHLIGHTS
(All financial figures are unaudited and in Canadian dollars unless otherwise noted. &#x2A; identifies non-GAAP financial measures. See the Non-GAAP and Other Financial Measures section of this news release)
<ul>
<li>Announced 2025 adjusted earnings before interest, income taxes and depreciation (EBITDA)&#x2A; guidance of $19.4 billion to $20.0 billion and distributable cash flow (DCF)&#x2A; per share of $5.50 to $5.90</li>
<li>Declared 30th consecutive annual common share dividend increase, raising it by 3.0% to $0.9425 per quarter ($3.77 annualized), effective March 1, 2025</li>
<li>Reaffirmed 2024 full year guidance for EBITDA and DCF per share; the Company expects to finish the year near the top end of the EBITDA range of $17.7 billion to $18.3 billion, and around the midpoint for DCF per share</li>
<li>The Company reaffirmed its 2023 to 2026 growth outlook of 7-9% for EBITDA&#x2A; growth, 4-6% for adjusted earnings per share (EPS)&#x2A; growth and approximately 3% for DCF per share&#x2A; growth</li>
</ul>

Enbridge Reaffirms 2024 Guidance; For 2025 Sees Adjusted EBITDA Of $19.4B-$20B And DCF Per Share Of $5.50-$5.90

Enbridge Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) (Enbridge or the Company) announced today that its Board of Directors has declared a quarterly dividend of C$0.9425 per common share, payable on March 1, 2025 to shareholders of record on February 14, 2025.&nbsp; The declared dividend represents a 3% increase from the prior quarterly rate and the thirtieth consecutive year in which the Company has increased its common share dividend.

Dividends

Enbridge Increases Quarterly Dividend By 3% To C$0.9425/Common Share, Payable March 1, 2025

President-elect Donald Trump&#8216;s move to impose 25% tariffs on Canada can thwart the growth of the stock markets and affect corporate profits, inflation, transportation and oil marketing companies.
What Happened: This comes as Goldman Sachs head of commodities research, Daan Struyven told <a href="https://www.bloomberg.com/news/articles/2024-11-27/goldman-sees-significant-hit-to-us-from-trump-s-canada-tariffs">Bloomberg </a>that &#8220;The 25% levy on all products from Canada proposed by Trump would likely raise the price of fuels in the U.S.&#8221;
&#8220;He said that tariffs could significantly affect U.S. consumers, U.S. refiners, and Canadian producers," on Wednesday. In order for American producers to export more of their own oil, the U.S. imports almost 4 million barrels of Canadian crude a day. Struyven added that this could be a &#8220;negotiating tool.&#8221;
"Given the focus from Trump to lower energy costs, we think Canada tariffs are somewhat unlikely,&#8221; he added
U.S. and Canada along with Mexico signed the United States–Mexico–Canada Agreement as an update to North American Free Trade Agreement, or NAFTA in 2020. It allowed for mostly duty-free trade between the three countries. Trump&#8217;s threat of tariffs would seem to violate the terms.
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a>
Why It Matters: As higher Canadian tariffs could raise the domestic fuel prices in the U.S., it will impact the corporate profits of many companies and increase both, consumer and producer price inflation.
The input costs of transportation and oil marketing companies can increase, which may lower their profits and stock prices. Also, investors may want to short the stocks of these companies when oil prices are high.
A few of the many transportation companies that would get affected by this include, Union Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>), CSX Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Old Dominion Freight Line Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), TFI International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFII#NYSE">TFII</a>), Knight-Swift Transportation Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), XPO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) and Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>).
Similarly, companies like Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>), Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), Enbridge Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) are a few oil marketing companies that my bear the direct brunt of this.
Read next: <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">Michael Saylor&#8217;s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a>
Photo by Hamara via Shutterstock

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Trump's Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: 'Would Likely Raise The Price Of Fuels,' Says Analyst

RBC Capital analyst Maurice Choy reiterates Enbridge (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) with a Outperform and maintains C$59 price target.

RBC Capital Reiterates Outperform on Enbridge, Maintains C$59 Price Target

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of C$0.55 per share which missed the analyst consensus estimate of C$0.56 by 1.79 percent. This is a 11.29 percent decrease over earnings of C$0.62 per share from the same period last year. The company reported quarterly sales of C$14.882 billion. This is a 51.18 percent increase over sales of C$9.844 billion the same period last year.

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