05:53:27 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,645,895,009
Close 2017-09-19 C$ 50.61
Market Cap C$ 83,298,746,405
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Globe says Sissons recommends buying Enbridge

2017-09-20 08:24 ET - In the News

The Globe and Mail reports in its Wednesday edition that Campbell Lee & Ross Investment Management manager Darren Sissons recommends buying Enbridge ($50.61). The Globe's John Heinzl writes that Enbridge has an annual yield of 4.8 per cent. Mr. Sissons notes pipeline operator Enbridge is "a critical cog of North American energy infrastructure." Yet, the share price has skidded about 10 per cent this year, hurt by low oil prices and concerns about Enbridge's long-term growth outlook. However, Mr. Sissons says another factor may be at play: the recent $37-billion acquisition of U.S.-based Spectra Energy Corp. that was paid for with Enbridge common shares. Mr. Sissons says, "Spectra shareholders have since been net sellers of their Enbridge shares and that, coupled with a recent earnings miss, has temporarily provided an attractive entry point for the stock." Even as its shares are in a slump, Enbridge has said it expects to raise its dividend by 10 per cent to 12 per cent annually through 2024. The Globe reported that BMO analyst Ben Pham called Enbridge his "best idea" in energy infrastructure on March 7. He rated the shares "outperform." Enbridge shares could then be had for $55.23.

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