19:45:29 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 848,883,161
Close 2015-01-20 C$ 57.25
Market Cap C$ 48,598,560,967
Recent Sedar Documents

Globe says Enbridge Income Fund target hiked to $41

2015-01-21 06:02 ET - In the News

See In the News (C-ENF) Enbridge Income Fund Holdings Inc

The Globe and Mail reports in its Wednesday, Jan. 21, edition that RBC Dominion Securities analyst Robert Kwan says income investors should focus on Enbridge Income Fund Holdings ($40.18), which is to receive several prime assets from parent Enbridge Inc. ($57.25) in a restructuring announced last December. The Globe's Tim Shufelt writes in the Eye On Equities column that Mr. Kwan says: "Focus on what ENF will be, not what it was. ... We continue to believe that ENF needs to be on the radar screen for investors, in particular those seeking higher yields more comparable with our midstream coverage universe." The reorganization will move, among other assets, Enbridge's Canadian portion of its oil pipeline network to Enbridge Income. The change will take the company's organic growth rate from about 1 per cent to about 10 per cent annually, notes Mr. Kwan. "ENF will take on $15-billion of contractually secured growth projects that, combined with the return profile from the acquired assets, are expected to underpin a roughly 10-per-cent annual dividend growth profile." He raised his target to $41 from $37, and maintained a "sector perform" rating. The average analyst target price on the stock is $36.61.

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