08:41:22 EDT Fri 19 Apr 2024
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Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-07-04 C$ 46.84
Market Cap C$ 79,843,583,255
Recent Sedar Documents

Globe says Enbridge starting to look like its old self

2018-07-05 06:52 ET - In the News

The Globe and Mail reports in its Thursday, July 5, edition that after Enbridge's Spectra Energy $37-billion takeover in 2016, debt was too high, investors fretted about dividends and organizational complexity, with multiple business lines and publicly traded subsidiaries. The Globe's Jeffrey Jones writes that chief executive officer Al Monaco has whittled down his to-do list. Mr. Jones says Enbridge is starting to look like its old self. On Wednesday, it announced it was selling $4.3-billion in gas assets to Brookfield Infrastructure Partners. That brings its asset-sale tally to $7.5-billion, more than double the target it set for all of 2018 as it trims the business to focus on pipelines and utilities. The asset sales remove a lot of the risk that Enbridge might embark on another big share issue or start tinkering with the outlook for the dividend as it deals with long-term debt that stood at $61.1-billion on March 31. The relief has come in the form of a bump in the stock price. Since dropping to a six-year low of $37.68 in April, the shares have rebounded 25 per cent to more than $47.

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