13:44:46 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-07-06 C$ 46.69
Market Cap C$ 79,587,892,873
Recent Sedar Documents

FP says investors are getting back on board Enbridge

2018-07-06 07:49 ET - In the News

The Financial Post reports in its Friday edition that sentiment toward Enbridge has improved dramatically. The Post's Jonathan Ratner writes that Enbridge's worst days may now be behind it. The most recent asset sale to Brookfield Infrastructure Partners raised $4.3-billion, and analysts agree that Enbridge received good value. More importantly, the deal brings Enbridge's total asset sales in 2018 to about $7.5-billion. That is more than double its minimum $3-billion target for non-core asset sales this year, although it is part of a larger effort to potentially raise $10-billion in the medium term. BMO analyst Ben Pham says, "The implied sale multiple is at the high end of our expectations." Mr. Pham believes recent developments will improve Enbridge's valuation. Enbridge is planning to develop $22-billion in new energy infrastructure projects, and on its first quarter conference call, indicated that additional asset sales above $3-billion through 2020 could allow the capital program to be self-funded. Enbridge expects that would support 10-per-cent dividend growth. It is an ambitious but not unrealistic plan, and investors are getting back on board.

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