|Bid||49.30 x 0|
|Ask||49.31 x 0|
|Day's Range||49.01 - 49.53|
|52 Week Range||37.36 - 49.70|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||33.72|
|Earnings Date||May 8, 2019 - May 13, 2019|
|Forward Dividend & Yield||2.95 (6.00%)|
|1y Target Est||53.53|
Canadian E&Ps are delaying or canceling projects, citing long-lasting pipeline woes as a major obstacle for the industry
Canada's main stock index rose to its highest level in five months on Friday, led by the material sector, as investor sentiment was lifted by reports that Beijing and Washington had made more progress ...
NEW YORK/CALGARY, Alberta, March 10 (Reuters) - North American energy traders are reluctant to take up long-term positions on Canadian crude price moves, preferring to stick to spot deals, as uncertainty around government intervention in the market grows following delays to a critical pipeline project. Enbridge Inc unexpectedly said earlier this month its Line 3 oil pipeline will be delayed until the second half of 2020, dealing another blow to the oil-rich province of Alberta, which is struggling with long-running congestion on export pipelines. Severe pipeline bottlenecks depressed Canadian heavy oil prices to the weakest on record last year, prompting the Alberta government to order mandatory production cuts effective Jan. 1, a move that sent prices sky-rocketing and traders scrambling to cover positions.
CNRL, as the oil-sands producer is known, expects its North West Redwater refinery joint venture to start taking 80,000 barrels a day of heavy crude off of pipelines this year, executives said on a call. The Western Canadian Sedimentary Basin also has natural decline rates, and without any drilling activity by producers, that could take as much as 300,000 barrels a day off the market, they said. With that in mind, Alberta still should be able to reduce its mandated production curtailments in the coming months and eliminate them entirely by the end of the year, CNRL President Tim McKay said in an interview.
Stocks that moved substantially or traded heavily on Monday: Children's Place Inc., down $9.78 to $84.82 The children's clothing retailer reported weak fourth-quarter results and issued a weak forecast. ...
Cenovus fell as much as 7.5 percent in Toronto, and Canadian Natural slipped as much as 6.5 percent, the biggest intraday drops in almost three months for both stocks. By contrast, Suncor Energy Inc. may be a “relative winner” if discounts on Western Canadian Select heavy crude widen again, Goldman Sachs Group Inc. analyst Neil Mehta said in a note. Suncor was down 2 percent to C$44.54 at 1 p.m. in Toronto.
The roughly one-year delay to Enbridge Inc.’s expansion of its Line 3 conduit, announced late Friday, threatens to prolong a shortage of pipeline space that has made it difficult for Canada’s drillers to ship their crude to refineries. Enbridge’s Line 3, which would help move 370,000 more barrels of crude out of Alberta, is particularly important because the province’s government was counting on it to help end mandated production cuts.
Enbridge’s Line 3 is particularly important because the government of the oil-rich province of Alberta was counting on its startup this year to let it end mandated production cuts that were implemented to cope with a glut of crude. The postponement of the C$9 billion ($6.8 billion) Line 3 expansion, which would add 370,000 barrels of daily shipping capacity, is the latest in a string of canceled or stalled projects that have plagued the Canadian energy industry. The industry also has been hit in recent years by the cancellation of TransCanada’s Energy East pipeline and the Canadian government’s rejection of Enbridge’s proposed Northern Gateway conduit.
CALGARY , March 1, 2019 /CNW/ - Enbridge Inc. (ENB) (ENB) (Enbridge or the Company) announced that the State of Minnesota (the "State") has today provided Enbridge the permitting timeline for its agencies' remaining environmental permits for the Line 3 Replacement Project. Enbridge anticipates that the remaining Federal permits will be finalized approximately 30 to 60 days thereafter. "We now have a firm schedule from the State on the timing of the remaining permits for our Line 3 Replacement project," said Al Monaco , President and Chief Executive Officer of Enbridge.
If you want to know who really controls Enbridge Inc. (TSE:ENB), then you'll have to look at the makeup of its share registry. Large companies usually have institutions as shareholders,Read More...
The discount widened as Enbridge said that crude shipments through the heavy oil pipelines of its Mainline, which is the largest Canadian oil export pipeline system, would be apportioned 41 percent in March, up from 39 percent in February. The system carries oil from Alberta to Superior, Wisconsin, where it connects to other lines linked to refineries in the U.S. Gulf Coast.
Management has a plan in place for the next several years now that it has completed the acquisition of its subsidiaries.
Westcoast Energy Announces Redemption of Cumulative Redeemable First Preferred Shares, Series 7, and Series 8
Canadian pipeline operator Enbridge Inc was not surprised by renewed opposition from Minnesota's state government to its C$9 billion Line 3 but still expects the oil pipeline replacement to enter service by year-end, its chief executive said on Friday. The pipeline passes through Minnesota as it runs from Alberta to Wisconsin. Replacement would allow Enbridge to restore its flow to 760,000 barrels per day.
The Calgary, Alberta-based company said it had net income of 45 cents per share. Earnings, adjusted for non-recurring costs, were 49 cents per share. The results beat Wall Street expectations. The average ...