|Bid||0.00 x 1100|
|Ask||0.00 x 4000|
|Day's range||39.03 - 39.96|
|52-week range||32.23 - 43.15|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||54.02|
|Forward dividend & yield||2.44 (6.13%)|
|Ex-dividend date||12 Feb 2020|
|1y target est||45.03|
Linde's (LIN) Q4 earnings beat projections, Enbridge Inc. (ENB) missed the Zacks Consensus Estimate, while TC Energy (TRP) reported in-line EPS.
As you might know, Enbridge Inc. (TSE:ENB) recently reported its full-year numbers. Revenues of CA$50b were in line...
TC Energy's (TRP) board of directors clears an 8% hike in its first-quarter 2020 dividend to 81 Canadian cents per share (or C$3.24 cents annually).
NextDecade Corp. and Enbridge Inc. have entered into a definitive agreement whereby Enbridge will acquire Rio Bravo Pipeline Company, LLC.
Seaway Crude Pipeline Company LLC ("Seaway") today announced an extension of a binding open season currently under way for committed service on expansion capacity of its system originating in Cushing, Oklahoma and extending to the Texas Gulf Coast. The open season, which began December 16, 2019 with the intent to close on February 14, 2020, is being extended to allow interested shippers to complete internal review processes. Seaway is also considering shipper feedback on the open season terms and may adapt the terms to allow for the inclusion of additional crude types, among other modifications. Seaway will promptly inform all interested shippers with open season documents of any changes, as well as provide notice 30 days prior to the new close.
Readers hoping to buy Enbridge Inc. (TSE:ENB) for its dividend will need to make their move shortly, as the stock is...
Enbridge (ENB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- Pipeline and midstream energy companies may be about to join the sustainable investment trend.The sector has often been a target of environmental opposition, but their “impressive” safety track records and relatively low environmental footprints could make them a focus for investors who favor environmental, social and governance factors, according to National Bank of Canada.Enbridge Inc. and TC Energy Corp. topped National Bank’s pipeline-ESG ranking, with Inter Pipeline Ltd garnering a positive mention. Compared to power and utility companies, the group has to do a lot of work to develop sustainability reports and targets but that provides an attractive entry point, according to National Bank.“As more companies comply with globally recognized environmental reporting standards and establish attractive ESG goals, we anticipate increased fund flows from sustainability investors,” National Bank analyst Patrick Kenny said in a note to clients this week, predicting the group can close its valuation gap versus utilities.Shares of pipeline and midstream companies haven’t needed a lending hand this year with Enbridge, Pembina Pipeline Corp., and TC Energy leading the Canadian energy index with gains of over 5%. Low interest rates and their defensive nature amid roiling markets have been support while oil producers have dropped alongside the commodity.Indigenous RelationshipsPipeline companies are no strangers to environmental controversy. TC Energy’s Keystone XL line and the Trans Mountain project, now owned by the Canadian government, have both faced numerous delays by those opposed to them as conduits for output from Alberta’s oil sands.Oil spills remain a concern, but the pipeline companies on National Bank’s coverage list have delivered 99.99% of volumes without a spill, Kenny said. Social and governance standards can be increased through areas such as indigenous relationships and board oversight, respectively, he said.Meanwhile in the U.S. market, a similar theme was echoed at Credit Suisse, where most of the midstream names that have been picked up by ESG ETFs have published sustainability reports, the bank said.“Screening well on ESG metrics can attract new investors and provide ‘sticky ownership’ which could drive higher stock valuation,” Credit Suisse analyst Spiro Dounis told clients in a note last month. One of BlackRock’s ESG ETF’s, the iShares ESG MSCI USA Leaders ETF, has pipeline holdings including Kinder Morgan Inc. and Williams Cos.To contact the reporter on this story: Michael Bellusci in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Jacqueline Thorpe at email@example.com, ;Brad Olesen at firstname.lastname@example.org, Divya BaljiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Enbridge Inc's Line 3 pipeline replacement cleared important hurdles on Monday when a Minnesota regulator endorsed a revised environmental impact statement for the project. The Minnesota Public Utilities Commission's decision, followed by its approval of a certificate of need and route permit, is a victory for Canadian oil producers, who have been forced to curtail production in Alberta because of a shortage of pipeline capacity. Enbridge shares jumped 1.5%, hitting their highest level since May 2017.
TOTAL (TOT) is set to release fourth-quarter earnings on Feb 6. Its startups, LNG initiatives and cost management are likely to have had a positive impact on earnings.
BP's upstream operations in the fourth quarter are expected to have been affected by weak crude pricing scenario, partially offset by production rise.
(Bloomberg) -- Enbridge Inc. said opponents of its plan to convert the Mainline oil pipeline network to a contract system may be stalling for time, hoping to see what happens on other lines that are in the works before making long-term commitments on its system.Opponents of Enbridge’s proposal, including Canadian Natural Resources Ltd. and the Explorers & Producers Association of Canada, have asked that the Canada Energy Regulator split the approval process for the plan into two. The first part would address whether the conversion should even be allowed.That scenario would be unique, and would likely make the entire regulatory process longer, said Vern Yu, the head of Enbridge’s liquids pipelines business. Pipeline projects including the Trans Mountain expansion, TC Energy Corp.’s Keystone XL and Enbridge’s Line 3 expansion face key obstacles this year that could affect their timelines or even their ultimate fate.“It might be strategic from some of these shippers because it would help them gain more clarity on what’s happening on some of the other pipelines that are under development,” Yu said in an interview. “It would be a way for them to gain an advantage as they make decisions going forward.”Yu reiterated that Enbridge’s plan to lock shippers on the Mainline into contracts of as long as 20 years -- a change from the current system, in which space is allocated on a monthly basis -- has the support of customers accounting for more than 70% of the volume on the system. The plan will provide shippers with certainty on tolls and market access.Oil-sands producer Cenovus Energy Inc. and LyondellBasell Industries NV, which owns a Houston refinery that receives crude from the Mainline, were among companies noting their support of the change in filings on Thursday.The Mainline is Canada’s largest oil pipeline network, with the capacity to ship about 2.85 million barrels a day.To contact the reporter on this story: Kevin Orland in Calgary at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Carlos Caminada, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Canadian pipeline company Enbridge Inc said on Thursday its plan to sell nearly all capacity on the Mainline oil network for the long term is fair to shippers of all types and would benefit the western Canadian industry. Enbridge plans to allow shippers to book 90% of space under contracts on the nearly 3 million barrel per day Mainline, Canada's biggest oil pipeline system, rather than continue to ration space on a monthly basis. The change will result in improved netback pricing for shippers and will better link the region's oil with U.S. refiners and export channels, Monaco said.
(Bloomberg) -- Enbridge Inc.’s proposal to convert its Mainline crude pipeline network to long-term contracts is hitting a fresh round of opposition, with Canada’s largest oil producer asking regulators to reject the plan.Canadian Natural Resources Ltd. said in a filing with the Canada Energy Regulator on Tuesday that Enbridge’s bid to change the Mainline from monthly service to long-term contracts is an abuse of market power and isn’t in the public interest. The producer asked the regulator to split its review of the proposal into two parts, with the first addressing whether the conversion should even be allowed.The opposition signals that Enbridge hasn’t yet sold some producers on its plan, which already has been delayed after drillers persuaded regulators to a halt a bidding process for space on the line. That halt required Enbridge to submit its full plan for review by regulators last month, and Canadian Natural is now asking the CER to reject it outright.“The proposed conversion of the Mainline from common carriage to contract carriage is unprecedented and inconsistent with the common carriage obligations established in the CER Act,” Calgary-based Canadian Natural said in the filing.Enbridge said in an emailed statement it’s reviewing the filing submitted by Canadian Natural and will provide a response to CER by Feb. 7, adding that its proposal has received support from companies representing over 70% of the Mainline’s current throughput. The pipeline operator has previously said its proposal to the CER represents 18 months of discussions with a variety of shippers and is the best compromise of their competing views.Enbridge is seeking to be able to lock customers on the Mainline into contracts for as long as 20 years, a shift from the current system in which space is allocated on a monthly basis. The company has said long-term contracts will provide shippers with certainty on tolls and market access.The Explorers & Producers Association of Canada, which represents mostly small- and mid-sized producers, also asked the CER on Tuesday to split the review process in two. The regulator should address other matters in Enbridge’s application, such as tolls, only once the fundamental issue of a switch to contract service is decided.“The Enbridge Application is proposing a monumental change that has the potential to change the face of Canadian oil markets for decades,” EPAC President Tristan Goodman said in its filing. “Therefore, the preliminary issue of the appropriateness of converting the Enbridge Mainline to firm service should be carefully considered as a threshold question by a process that is efficient, inclusive and consistent with the public interest.”\--With assistance from Stephen Stapczynski.To contact the reporter on this story: Kevin Orland in Calgary at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Carlos Caminada, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Alberta is pulling back on borrowing, a move that could contain the recent widening of the province’s debt risk spreads as the coronavirus slams oil prices, a key revenue source for the western Canadian territory.“Our current cash flow forecasts suggest that less financing will be required than what was previously forecast, due in part to actions taken by the government to improve cash management,” Jerrica Goodwin, Edmonton-based spokeswoman at Alberta’s finance ministry, said in an email. “There are a number of measures related to cash management including a reduction in deficit,” she said, adding that further details will be disclosed when the next budget is released.In October, Alberta released a budget plan that called for C$12.2 billion to be raised in the long-term debt markets for the fiscal year ended March 31 -- of which C$5.5 billion was remaining as of today. Ontario, by comparison, completed its C$31.6 billion borrowing plan last week, according to Laurentian Bank Securities Inc. data. Meanwhile, Quebec began pre-funding for the following fiscal year in late 2019.Investors demand 10.2 basis points more to hold Alberta’s bonds maturing in September 2029 over similar-duration Ontario securities. That’s near the widest since mid-December. The gap was as tight as 6.9 basis points on Aug. 2 before pushing out to as wide as 12.2 basis points after the federal election.Alberta had already been playing catch-up to other Canadian provinces, selling C$700 million of bonds earlier this month -- its first domestic currency debt offering in almost four months. Since that Jan. 14 note sale, Alberta’s bond spreads over those of Ontario and Quebec widened.“We will continue to monitor the domestic and global markets and will borrow when we feel it is in the province’s best interests, not to time the market,” said Goodwin.While Alberta bond spreads may widen further in the short term, in the medium term pricing for the province may improve, according to Hosen Marjaee, senior managing director at Manulife Investment Management.That’s because, “pipelines that Enbridge and TransCanada are building are getting close to completion and once they are up and running, there will be much more Alberta oil going through them and more royalties,” he said.(Updates with investor quote in last two paragraphs.)To contact the reporter on this story: Esteban Duarte in Toronto at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Phillips 66's (PSX) fourth-quarter 2019 earnings are expected to have been hurt by lower refining income, partially offset by higher midstream and chemical profits.