Hey there. Power Corporation isn't a utility. It's actually an insurance/asset management company.
And even then, Enbridge and Algonquin aren't really comparable either. You're talking about a regulated utility with renewable exposure to a pipeline company with renewable exposure. A little bit of overlap, but not much!
There is room in a portfolio for both Enbridge and Algonquin for sure. I don't own Enbridge, I actually own TC Energy (TSE:TRP) and I also own Algonquin Power. The Texas Storm impacted Algonquin to the tune of $55 million, however this is a one off issue in our eyes, and the stock is looking pretty attractive price wise right now.