Enbridge still sees FY21 EBITDA $13.9B-$14.3B » 07:1007/3007/30/21
Still sees FY21…
Still sees FY21 distributable cash flow per share $4.70-$5.00.
Enbridge reports Q2 adjusted EPS 67c, consensus 55c » 07:0907/3007/30/21
CEO Al Monaco stated,…
CEO Al Monaco stated, "Following a strong start to the year, our four franchises delivered solid financial performance in Q2, with good operating performance and high utilization across our systems. The global economic recovery is now well underway, and our assets have been essential in assuring access to reliable and affordable conventional and renewable energy throughout this critical period. Our performance in the first half of 2021 has set us up well for the full year. We're on track to bring $10B of projects into service this year and we're reaffirming our full year 2021 financial guidance...Through strong cash flow growth and disciplined capital allocation, we continue to build financial flexibility to position Enbridge for the future. Our balance sheet is strong and we're further enhancing it through the recently announced $1.14B divestment of our non-operating minority interest in Noverco. This was an excellent opportunity to monetize a non-strategic investment at a premium valuation. We're pleased with our progress through the first half of 2021, having advanced our strategic priorities, including adding opportunities to the backlog. Our solid execution positions us well to achieve our three-year plan and helps to solidify our growth trajectory beyond 2023".
|Over a week ago|
U.S reveals 10-year old China cyber-attack amid new pipeline caution, WSJ says » 17:3707/2007/20/21
ENB, ET, TRP, KMI, OKE, PAA
The Biden administration…
The Biden administration unveiled cybersecurity requirements for the pipeline industry, amid a recent disclosure "of previously classified information about a past "aggressive Chinese hacking campaign," wrote Dustin Volz of the Wall Street Journal. The Federal Bureau of Investigation and the Department of Homeland Security issued a joint alert on Tuesday, saying that between 2011 and 2013, China-backed hackers targeted over 20 U.S. oil and natural gas pipeline operators, putting the the U.S. pipeline infrastructure at risk Companies that maintain pipelines include: Enbridge (ENB),Energy Transfer (ET), Enterprise Products (EPD), TC Energy (TRP), Kinder Morgan (KMI), Oneok (OKE) and Plains All American (PAA). Reference Link
Enbridge downgraded to Equal Weight from Overweight at Barclays » 06:0107/2007/20/21
Barclays analyst Christine Cho downgraded Enbridge to Equal Weight from Overweight with an unchanged price target of C$50. Enbridge's business model has proved resilient, but these same defensive asset characteristics limit upside to earnings estimates, Cho tells investors in a research note. Further, the stock trades at a premium to peers on estimates that already reflect a full recovery in Mainline volumes, says the analyst.
Enbridge price target raised to C$55 from C$54 at Scotiabank » 11:2807/0807/08/21
Scotiabank analyst Robert…
Scotiabank analyst Robert Hope raised the firm's price target on Enbridge to C$55 from C$54 and keeps an Outperform rating on the shares.
|Over a month ago|
Enbridge upgraded to Neutral from Sell at Goldman Sachs » 16:0906/3006/30/21
Goldman Sachs analyst…
Goldman Sachs analyst Michael Lapides upgraded Enbridge (ENB) to Neutral from Sell with a price target of $41, up from $35. The analyst sees lower regulatory risks on the Line 3 Replacement oil pipeline project after the Minnesota Court of Appeals issued an opinion on June 14 upholding the state agency issuance of key permits. Lapides says that while risks remain, he currently does not see them as "major negative catalysts." Within his coverage, he continues to favor Buy-rated TC Energy (TRP) over Enbridge.
Enbridge price target raised to C$57 from C$52 at CIBC » 11:5706/1806/18/21
CIBC analyst Robert…
CIBC analyst Robert Catellier raised the firm's price target on Enbridge to C$57 from C$52 and keeps an Outperformer rating on the shares.
Enbridge upgraded to Outperform from Neutral at Credit Suisse » 06:1006/1706/17/21
Credit Suisse analyst…
Credit Suisse analyst Andrew Kuske upgraded Enbridge to Outperform from Neutral with a price target of C$55, up from C$52. With a declining number of headline, legal, political and regulatory risks, Kuske tells investors in a research note that the upgrade is based largely on multiple expansion, the yield offering along with increasingly positive Canadian funds flow. On a valuation basis, the combination of Enbridge's platform de-risking from recent legal decisions, the overall Western Canadian outlook along with the yield offering and positive Canadian sentiment collectively support the upgrade, the analyst adds.
Enbridge upgraded to Outperform from Neutral at Credit Suisse » 06:0506/1706/17/21
Credit Suisse analyst…
Credit Suisse analyst Andrew Kuske upgraded Enbridge to Outperform from Neutral.
Enbridge: Court of Appeals affirms Line 3RP revised FEIS, certificate of need » 12:3706/1406/14/21
Enbridge announced that…
Enbridge announced that Monday's decision from the Minnesota Court of Appeals acknowledges the Minnesota Public Utilities Commission's thorough review of the Line 3 Replacement Project and confirms that commissioners appropriately approved the project's environmental impact statement, certificate of need and route permit. "After six years of community engagement, environmental review, regulatory and legal review, it's good to see confirmation of previous decisions on the Line 3 Replacement Project," said Vern Yu, Enbridge Executive Vice President and President Liquids Pipelines. "From the start, the project has been about improving safety and reliability for communities and protecting the environment."