Same song, 200th verse, still no rhyme and even less reason.  You know  ENB's debt-equity ratio is lower than it was five years ago but rather than looking up / at the facts and getting real data, you pull out of thin air that they must be "mortgaged to the hilt." Why bother with facts when alternative facts can be made up? 
"Stocks are not fully owned real estate with 25 year leases." Correct but they do have "fully owned pipelines with 25 year contracts" and these contracts provide substantially higher rates of return than those real estate leases generally do.
No retired folk (not folks) or at least the ones I know do not expect to get 5% dividends every year forever. They know that 5% will not likely stay at 5% but will  almost certainly increase significantly over the years as it always has in the past.  
"Risky, overbought, vulnerable"....an opinion that has been wrong for years.
74%...where did that number come from?
No income without capital? Ever hear of a pension or annuity?