|Bid||38.32 x 1200|
|Ask||38.35 x 3000|
|Day's Range||37.98 - 38.34|
|52 Week Range||28.82 - 39.25|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||52.77|
|Forward Dividend & Yield||2.44 (6.39%)|
|1y Target Est||45.03|
(Bloomberg) -- Canadian energy firms have quietly outperformed their U.S. counterparts this year and, even after the run, a chorus of positive outlooks on the sector to the north continues.Canada’s energy index has risen about 12.7% in 2019 versus 5% for the comparable U.S. gauge, led by pipeline firms including TC Energy Corp. and Enbridge Inc., which have risen about 39% and 19% respectively. Meanwhile, the Permian Basin and U.S. shale boom has decelerated.“The Canadian industry has been starved of capital for four years now,” Rafi Tahmazian, senior portfolio manager at Canoe Financial, said in an interview on BNN Bloomberg Thursday. He sees the U.S. just beginning to enter a phase that Canada was in, and thinks Canada’s industry is “on the edge of extreme profitability.”As a result, at least one Wall Street bank has been vindicated in its call for oil-sands companies to outperform shale. Bank of America said earlier this year that shorter cycle projects have attracted investment in recent years, making U.S. shale a “victim of its own success” as production growth has continued while in Canada it’s moderated.Meanwhile, Canaccord Genuity added Canadian Pipelines to one of its 2020 “contrarian investment themes.” The firm thinks that a lack of transportation options should allow pipeline operators to maintain pricing power. In a note to clients, strategist Martin Roberge also cited the pipelines’ defensive characteristics.U.S. political risks and shale production concerns are additional reasons for a potential shift of funds back into Canadian energy stocks, according to Toronto-based investment bank Eight Capital. These trends are “helping to create a shift in tide which should put Canadian oil sands/heavy oil in favor over U.S. E&Ps,” the firm said.Additional catalysts may come from the continued construction of the Trans Mountain pipeline and a decision on Enbridge’s Line 3 project. Enbridge recently said it needs to see “further clarity” on the regulatory and permitting process before making an assessment of when the U.S. segment can come online.To contact the reporters on this story: Michael Bellusci in Toronto at email@example.com;Divya Balji in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Scott Schnipper, Catherine LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
With the help of the renewable deal with EDF Energy, Baker Hughes (BKR) expects to reduce emissions by 1.2 million metric tons of CO2 equivalent through the next 10 years.
U.S. stocks closed lower on Tuesday amid investors??? concern over a partial trade deal as the dateline for fresh U.S. tariff on China will end by this week end.
Cenovus Energy (CVE) expects 70% of 2020 capital spending to be used for sustaining production levels, primarily at the Foster Creek and Christina Lake oil sands operations.
Enbridge (ENB) hikes dividend for 2020, which is set to be the 25th successive year of dividend increase by the leading midstream energy infrastructure provider.
(Bloomberg) -- Oil eased gains after a surprise build in U.S. crude stockpiles contrasted with analyst expectations for a draw.Futures in New York edged lower after closing at the highest in nearly three months. The American Petroleum Institute reported a 1.41 million-barrel build in crude inventories last week, according to people familiar with the matter. That runs counter to a Bloomberg survey of analysts predicting a draw. The U.S. government will release its weekly inventory report Wednesday.“API’s report for a build in crude stocks, and the large builds in gasoline and distillates probably caused crude futures to fall,” said Michael Loewen, director of commodity strategy at Scotiabank in Toronto.Seasonally, U.S. crude inventories are higher than the five-year average. Industry-backed API reported that gasoline and distillate supplies rose by over 8 million barrels combined. The gasoline build would mark the fifth consecutive rise if government data confirms it.Demand concerns stemming from the prolonged U.S.-China trade war persist. President Donald Trump’s administration is set to put tariffs on a further $160 billion of Chinese goods Sunday, although Agriculture Secretary Sonny Perdue said they’re unlikely to be implemented. Chinese officials also expect the higher levies to be postponed, according to people familiar with the matter.West Texas Intermediate for January delivery traded at $59.10 a barrel on the New York Mercantile Exchange at 4:57 p.m. local time. The contract settled at $59.24.Brent for February settlement was down 8 cents at $64.14 a barrel on the London-based ICE Futures Europe Exchange. The contract settled at $64.34. The global benchmark crude traded at a $5.20 premium to WTI for the same month.“For the market to push even higher, the key element is the signing of a trade agreement” between China and the U.S., said Gene McGillian, manager for market research at Tradition Energy. “That will rekindle expectations of economic growth and fuel demand growth.” Nevertheless, “we don’t have proof that there’s actually going to be a trade agreement,” he said.On Friday, oil closed at the highest level since mid-September after the Organization of Petroleum Exporting Countries and its allies surprised the market with deeper-than-expected output cuts. But there are lingering concerns on adherence to the latest agreement, given under-compliance by some members in the previous round of reductions.To contact the reporter on this story: Sheela Tobben in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Marino at email@example.com, Catherine Traywick, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and deteriorating expectations towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the third quarter and hedging or reducing many of […]
Since U.S. export volumes of oil are growing rapidly, both Enbridge (ENB) and Enterprise (EPD) are well positioned to capitalize on the trend with the proposed deepwater export terminal.
ConocoPhillips' (COP) strong and stable operations are likely to back the company to persistently grow free cash flow in the coming quarters.
Clearway Energy (CWEN) completes the acquisition of 527-megawatt Carlsbad Energy Center. This is set to further expand its clean energy generation portfolio.
Canadian pipeline operator Enbridge Inc on Tuesday forecast higher core earnings for 2020 and said it had notified the country's energy regulator that it plans to file an application for contracting the Mainline system before the year-end. Enbridge said in November it planned to seek the Canada Energy Regulator's approval to auction off rights to ship crude on its Mainline system, more than a month after the watchdog said the company will not be allowed to offer contracted space on the pipeline to shippers. Canada holds the world's third-largest crude reserves but years of regulatory delays and environmental opposition have stymied development of new export pipelines, contributing to falling capital investment and slowing growth in the oil sands.
Enbridge said in November it planned to seek the Canada Energy Regulator's approval to auction off rights to ship crude on its Mainline system, more than a month after the watchdog said the company will not be allowed to offer contracted space on the pipeline to shippers. Canada holds the world's third-largest crude reserves but years of regulatory delays and environmental opposition have stymied development of new export pipelines, contributing to falling capital investment and slowing growth in the oil sands. The company said it expects earnings before interest, taxes, depreciation and amortization (EBITDA) of C$13.7 billion ($10.30 billion) next year, compared with its 2019 forecast of C$13 billion, partly helped by its Line 3 going into service in Canada.
Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) announced its 2020 dividend and financial guidance and provided an update on its strategic priorities, which will be further discussed at the Company's investor conference today in New York.
Enbridge Inc. (TSX, NYSE: ENB) (Enbridge or the Company) announced today that its Board of Directors has declared a quarterly dividend of $0.81 per common share, payable on March 1, 2020 to shareholders of record on February 14, 2020. The declared dividend represents a 9.8 percent increase from the prior quarterly rate and the twenty-fifth consecutive year in which the Company has increased its common share dividend.
Canada's Enbridge Inc said on Monday that a revised environmental statement from the state of Minnesota's commerce department concludes that replacing the aging Line 3 oil pipeline would not introduce risks for Lake Superior in the case of a spill. The revised statement was drafted at the request of the Minnesota Public Utilities Commission (PUC). A court had determined the previous environmental assessment was inadequate.
Enterprise Products Partners LP and Enbridge Inc have agreed to jointly develop a U.S. Gulf Coast crude export terminal that would load supertankers off Freeport, Texas, Enbridge said on Monday. The pipeline operators plan to finalize a deal that would provide Enbridge an option to purchase ownership interest in Enterprise's Sea Port Oil Terminal (SPOT), subject to SPOT receiving a deepwater port license, Enbridge said.
The offshore terminal will be able to load Very Large Crude Carriers (VLCCs) at rates of approximately 85,000 barrels of oil per hour, or up to approximately 2 million barrels per day.
Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge) and Enterprise Products Partners L.P. (NYSE: EPD) (Enterprise) announced today they have agreed to jointly develop and market a deep-water offshore crude oil export terminal capable of fully loading Very Large Crude Carriers (VLCCs).