Commodity Channel Index
|Bid||0.00 x 1200|
|Ask||33.45 x 1300|
|Day's Range||33.27 - 33.86|
|52 Week Range||22.57 - 43.15|
|Beta (5Y Monthly)||1.05|
|PE Ratio (TTM)||45.84|
|Forward Dividend & Yield||2.35 (7.06%)|
|Ex-Dividend Date||May 14, 2020|
|1y Target Est||45.03|
A Minnesota pollution regulator said on Wednesday it will hold a public hearing this summer on Enbridge Inc's plan to replace its Line 3 oil pipeline, adding a potential three-month delay and pushing the bulk of construction to next year. The Minnesota Pollution Control Agency (MPCA) said the hearing will focus on how Enbridge <ENB.TO> intends to protect streams and wetlands that the pipeline crosses. Replacing Line 3, a 1960s-era branch of Enbridge's Mainline network, would allow the company to boost flow from a Canadian oil hub in Edmonton, Alberta, to Midwest refiners.
On February 26, 2020 the Minnesota Pollution Control Agency (MPCA) issued the draft 401 Water Quality Certificate permit for the Line 3 Replacement Project. Following a public comment period, the MPCA announced today that it will conduct a contested case hearing regarding the 401 permit.
PARIS , June 2, 2020 /CNW/ - EDF Renewables, a subsidiary of the EDF Group, Enbridge Inc. (ENB) (ENB), a leading energy infrastructure company in North America , and wpd, a European renewable energy company, announced today the launch of the Fécamp offshore wind farm following the finalisation of financing agreements between the consortium and its financial partners during the weekend. The 500 MW Fécamp offshore wind farm will be comprised of 71 wind turbines located between 13km and 22km from the coast of northwest France .
EDF Renewables and energy companies Enbridge Inc and wpd announced on Tuesday the start of construction of the Fecamp offshore wind farm in northern France. The cost of the project is estimated at around 2 billion euros ($2.23 billion), the companies said in a joint statement. The 500 MW Fécamp project will be composed of 71 wind turbines located between 13 kilometres and 22 km from the coast of northwest France, and is expected to create over 1,400 local jobs, they said.
ENB vs. WMB: Which Stock Is the Better Value Option?
Moody's Investors Service (Moody's) moved the outlook of DCP Midstream, LP's (DCP) to stable from positive and affirmed its existing ratings, including the Ba2 Corporate Family Rating (CFR) and B1 ratings on the preferred units. DCP's SGL-3 Speculative Grade Liquidity (SGL) rating is unchanged. Additionally, DCP Midstream Operating, LP's (DCP Midstream Operating) senior unsecured notes ratings were affirmed at Ba2 and the B1 rating on its junior subordinated notes was affirmed.
There were no integrity issues with the Line 5 pipeline and it remains safe, Enbridge added. Line 5 ships 540,000 barrels per day of light crude oil and propane and is a critical part of Enbridge's Mainline network, which delivers the bulk of Canadian crude exports to the United States.
Enbridge Inc proposed raising tariff rates on its Express crude oil pipeline from the International Boundary near Alberta, Canada, to points in Wyoming and Montana by 3%, according to a filing on Monday. * The company will increase committed rates on the line effective July 1, the filing with the Federal Energy Regulatory Commission (FERC) said. * The line brings a variety of light, medium and heavy crude oil from Western Canada to refiners in the U.S. Rocky Mountain states.
Enbridge (NYSE: ENB) and The Williams Companies (NYSE: WMB) are two of the largest oil and gas midstream companies in North America. With Enbridge yielding 7.2% and Williams yielding 8.2% at the time of this writing, both companies seem like attractive options for investors who want a little more than the 2% or so average yield in the S&P 500. Both Enbridge and Williams reaffirmed their initial 2020 guidance despite the downturn in oil and gas prices.
Calgary-based pipeline giant Enbridge (NYSE: ENB) proved its resilience when it posted solid first-quarter results in the midst of the present oil downturn. Now yielding over 7%, Enbridge looks like an attractive stock for income investors if it can continue delivering good results. Let's break down the company's business to see if Enbridge can continue to perform in this challenging environment.
Oil prices have gone on a wild ride this year, taking most oil stocks with them. Crude, however, seems to have found its bottom and has recovered quite a bit of ground over the past month. That's leading many investors to consider buying oil stocks for the next leg of the rebound.
CALGARY , May 19, 2020 /CNW/ - Today, the Canada Energy Regulator (CER) announced that the regulatory process for Enbridge Inc.'s (ENB) (ENB) proposal to offer contracted transportation service on the Mainline pipeline system will proceed in a single phase hearing process that balances the need to address pandemic-related challenges and the Commission's mandate to adjudicate in an appropriately expeditious manner. This information may not be appropriate for other purposes.
Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that none of its outstanding Cumulative Redeemable Preference Shares, Series 13 (Series 13 Shares) will be converted into Cumulative Redeemable Preference Shares, Series 14 of Enbridge (Series 14 Shares) on June 1, 2020.
North American midstream companies Enbridge (ENB) and TC Energy (TRP) reported better-than-expected Q1 bottom line numbers, while Brazil's Petrobras (PBR) missed earnings estimate.
With unemployment rising to 15%, and the grim corporate earnings seasons wrapping up, investors may struggle to keep up the relatively buoyant mood that has boosted markets in recent weeks. They may find some support from the Federal Reserve, where Chairman Jerome Powell this week urged Congress and the White House to agree on additional stimulus packages. The Fed has already cut rates down to 0 to 25 basis points; they have no further ammunition, so if more help is to come, it will need to come on the spending side. Urging action, Powell said that an economic recovery “could come more slowly than they would like.”Viewing the situation for investment bank JPMorgan, quant strategist Dubravko Lakos-Bujas sees further aid as inevitable: “[This] crisis is a consequence of an exogenous shock, and is unique given the absence of ‘bad actors.’ This makes policy response much less contentious, more proactive and essentially unconstrained.” In his view, there is no ceiling on any action Congress or the Federal Reserve may take – and that may be the bottom line, as far as investors are concerned.Turning to a micro-level view, the stock analysts at JPM are making some concrete recommendations – and they are targeting the dividend stocks. We’ve pulled three of JPM's bullish calls, and ran them through TipRanks database to see what other Wall Street's analysts have to say about them.Annaly Capital Management, Inc. (NLY)First up is a real estate investment trust, a niche well-known for its high dividends due to corporate tax code requirements. Annaly focuses its efforts on mortgage-backed securities, the lending side of the REIT sector, and holds an asset portfolio worth $133 billion.Like most companies, Annaly saw a sharp earnings drop in the first quarter. EPS, at 21 cents, was down 19% sequentially, although it did come in just over the 20-cent forecast. The true rough spot was that earnings did not fully cover the company’s Q1 dividend. At 25 cents quarterly, the dividend payment annualizes to $1 even and gives a fantastic yield of 16.9%. Annaly has a long history of maintaining reliable dividend payments, including adjusting the payout if needed to keep it viable. That the company did not make such an adjustment in Q1, despite a payout ratio of 119%, suggests that the company expects earnings to turn upwards in the near term.NLY shares have underperformed in the current bear cycle, losing as much as 59% from peak to trough. Since bottoming out, the stock has regained 40% from its low point – but share prices remain mired in penny-stock territory.Writing for JPM, 5-star analyst Richard Shane sees the low share price here as an opportunity. He writes, “We reiterate our preference for NLY’s large agency MBS portfolio, which consists predominately of specified collateral that performed well in the lower rate environment leading up to the pandemic. We continue to see upside to shares at current levels…”Backing his optimistic stance on NLY, Shane gives the stock a Buy rating. His $8.50 price target implies a strong upside of 45% in the next 12 months. (To watch Shane’s track record, click here)Overall, Wall Street is in cautious agreement with Shane on Annaly. Of 9 recently published stock reviews, the Buys outweigh the Holds 6 to 3. The stock’s current share price is low, at $5.86 even after gains in today’s session, and the average price target of $7.33 suggests room for 25% growth this year. (See Annaly stock analysis on TipRanks)Blackstone Mortgage Trust (BXMT)Sticking with REITs, we turn to Blackstone. This company invests mainly in original senior loans, backed by collateral, in the North American, European, and Australian markets. Blackstone’s real estate portfolio holds $161 billion in assets under management.Like NLY above, Blackstone shares felt a hard hit when the market turned sour in Q1. From peak to trough, BXMT lost an eye-opening 68% of its share value. Even after gains in recent weeks, the stock is still down 46% from its high point in February – this is serious underperformance, as the S&P 500 is only down 15% from its peak.Blackstone’s underperformance comes even as the company beat the earnings forecast in Q1. While EPS was down year-over-year, it did beat quarterly expectations by 5.4%, coming in at 58 cents. Revenues missed the forecast, but still came in at a solid $100.6 million.For income investors BXMT offers a solid dividend payment that has been held steady – regardless of quarterly earnings – for the past three years. The 62-cent quarterly payment gives an annualized value of $2.48 and a yield of 11.7%. This is nearly 6x the average dividend yield among S&P listed companies, and an impressive return by any standard.Richard Shane covers BXMT, too, and he is satisfied that the company can weather the coronavirus storm. Shane says of Blackstone, “BXMT remains a market leader best positioned to negotiate optimal terms with both financing counterparties and well-capitalized institutional borrowers… the overall impact of COVID-19 to quarterly earnings was minimal as all loans have paid interest through April… BXMT noted approximately $821M in liquidity…”In his note on the stock, Shane reiterates his Buy rating, along with a $25.50 price target that suggests an upside potential of 22%. (To watch Shane’s track record, click here)What do other analysts say about Blackstone? It’s almost split. TipRanks analytics shows out of 5 analyst, 3 are bullish on the stock, while 2 remain sidelined. The consensus price target of $24.50 shows a potential upside of 17.22%. (See Blackstone stock analysis on TipRanks)Enbridge, Inc. (ENB)Last up is Enbridge, a major player in the North American energy industry. While oil prices collapsed during Q1 as economies were shut down, that did not negate the need for oil and other hydrocarbons. Even limited economic activity, along with such essentials as home heating and power generation, maintained some demand. Enbridge, which is Canada’s largest natural gas distributor and the owner of the longest crude oil transport network in North America, was well positioned to remain profitable.And it did. The company’s Q1 earnings came in at 62 cents per share, beating the forecast by 21.5% and showing impressive 34.7% sequential growth. Quarterly revenues, of $8.96 billion, beat the estimates by 5.2%.Enbridge has an interesting dividend history. The company has kept up its quarterly payments reliably for the past three years, in part by adjusting the payout to match earnings. The current dividend, which was declared earlier this week, is 57.75 cents per share. The annualized payment of $2.31 puts the yield at 7.5%, not as high as the REITs above but still far better than average – and enormously higher than the badly depressed Treasury bond market.JPM’s Jeremy Tonet believes Enbridge holds a strong business position. He writes of the company, “In addition to the strong results, we view reiterating guidance as a significant positive for ENB, especially considering Mainline concerns. Furthermore, ENB continues to progress several key initiatives, including Mainline recontracting…”In line with this view, Tonet sets a price target of $56 Canadian ($39.86 US at current rates), implying a 29% upside potential for the coming year. Tonet’s bullish upside backs his Buy rating. (To watch Tonet’s track record, click here)The analyst consensus view here is another Moderate Buy, based on 16 ratings that include 12 Buys, 3 Holds, and a single Sell. ENB shares are currently priced at US$30.98, and the average price target of $38.02 indicates a 23% upside potential. (See Enbridge stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Moody's Investors Service, ("Moody's") today downgraded the senior unsecured rating of Southeast Supply Header, LLC (SESH) to Baa3 from Baa2. As the events related to the coronavirus unfold, we are taking into consideration a wider range of potential outcomes, including more severe downside scenarios.
The durability of the Canadian pipeline giant's operations were on full display during the first quarter.
Enbridge (ENB) delivered earnings and revenue surprises of 21.57% and 5.17%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Canadian pipeline operator Enbridge Inc on Thursday reported a loss for the first quarter compared with a profit a year earlier, hit by nearly C$4 billion in charges related to its investment in DCP Midstream and derivative losses.