It's pipelines are in such promising places that after years of ownership I would expect we'd have a share price of $35 by now. NOW they say their Spill Cleanup expenses may EXCEED Insurance Coverage (Pollution Liability) and screwup yet another quarter!!!!
That's because they don't buy a high enough limit due to high expense of THEIR coverage layers from commercial insurers. They have creamed their Property and Liability Insurers over the past 10 years with HUGE and multiple losses. Energy Companies tipically carry 100's of millions in coverage with large deductibles
Their Safety & Risk Mgt stinks and. Top Mgt needs to review the people and programs.
Are you kidding (or do you mean 4 times more)?
EEP has a history of confrontations with environmental agencies because of its countless pipeline spills throughout its history. One member of Congress also describe the company as follows: "Enbridge is fast becoming to the Midwest what BP (BP) was to the Gulf of Mexico."
uptick_9: Agreed... Now if they could only break and hold above that stubborn 29.25 RSI number all would be fine... On Tuesday it will be time for X-date trading games to begin, and then the standard price-drop on the X-date itself... (Such a repetitive sequence of events get boring after awhile)... Regardless GLTA and hopefully it won't turn out like LNCO/LINE did today...
If EEP bought the policy you wanted they would have a $10 to $15 million deductible. Guess you forget EEP owns some of the oldest pipes in the industry. They have $8B in new projects coming. They are investment grade. Patience.
hist_rpts: Following this board, most do not look hard at technicals, but if you look at the chart from May 1st to today, it forms a perfect triangle (from the highs across the top and the lows across the bottom), which is a harbinger of a rapid price movement; should it hit the point of intersection - notwithstanding the fundamentals, this stock is technically primed to move significantly, which hopefully is upward bound, when and if it hits 29.20 to 29.25... (The highs/lows for today's p/s ranged between 28.95 and 29.18) - If it could hit and maintain that 29.20-29.25 point threshold, it should be quite a profitable run for stockholders... GLTA
Your still getting a good dividend no matter the price of the stock. It's not like their going to file for bankruptcy, or the stock price is falling through the roof. Collect the divi and be happy.