22:15:17 EDT Wed 17 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-03-20 C$ 39.14
Market Cap C$ 66,342,301,644
Recent Sedar Documents

FP says credit warning targets Enbridge subsidiary

2018-03-21 08:45 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Financial Post reports in its Wednesday, March 21, edition that DBRS is warning that one of Enbridge subsidiary's revenues could tumble by $100-million this year and its credit ratings could be hurt by new policies in the United States. The Post's Geoffrey Morgan writes that DBRS said Tuesday a recent decision by the U.S. Federal Regulatory Commission could "significantly weaken" the key credit metrics of Enbridge Energy Partners (EEP), a subsidiary of Enbridge. Last week, the FERC announced that master limited partnerships (MLPs) -- a tax-friendly corporate structure popular with pipeline firms -- would no longer be able to recover an income tax allowance in certain pipeline service contracts. The FERC announcement led to a sell-off in oil and gas pipeline companies, with both Enbridge and TransCanada particularly hard hit as financial analysts cut their price targets on both companies' MLP subsidiaries. Shares in Enbridge have dropped more than 8 per cent since the announcement, including a 2-per-cent drop Tuesday. The DBRS note predicts EEP's 2018 revenues could be $100-million lower than expected while its distributable cash flow would be $60-million lower as a result of the change.

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