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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Enbridge Inc.    ENB   CA29250N1050

ENBRIDGE INC.

(ENB)
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Enbridge : Minnesota issues another approval for disputed oil pipeline

11/24/2020 | 06:34pm EST

MINNEAPOLIS — A Minnesota regulatory panel on Tuesday signed off on Enbridge Energy’s planned Line 3 crude oil pipeline replacement across northern Minnesota, leaving only one minor state permit to go before construction can begin.

The independent Public Utilities Commission notified Enbridge in a filing that the company has complied with its pre-construction requirements. Enbridge said in a statement that the authorization to begin construction means only a final construction storm water permit is needed from the Minnesota Pollution Control Agency before construction can begin.

The approval came one day after the U.S. Army Corps of Engineers approved the final federal permit for the project. The PUC had approved the project several times before.

MPCA spokesman Darin Broton said his agency has 30 days from Monday to decide.

Line 3 begins in Alberta, Canada, and clips a corner of North Dakota before crossing Minnesota on its way to Enbridge’s terminal in Superior, Wisconsin. Enbridge wants to replace the Minnesota section because it was built in the 1960s, and its increasing maintenance needs mean the company can run it at only half its original capacity. Replacement segments in Canada, North Dakota and Wisconsin are already complete.

Opponents say the project threatens spills in pristine waters where Native Americans harvest wild rice and that the Canadian tar sands oil it would carry would aggravate climate change.

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials
Sales 2020 39 297 M 30 868 M 30 868 M
Net income 2020 2 526 M 1 985 M 1 985 M
Net Debt 2020 72 050 M 56 595 M 56 595 M
P/E ratio 2020 36,7x
Yield 2020 7,33%
Capitalization 89 636 M 70 541 M 70 409 M
EV / Sales 2020 4,11x
EV / Sales 2021 4,21x
Nbr of Employees 13 000
Free-Float 99,8%
Chart ENBRIDGE INC.
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Enbridge Inc. Technical Analysis Chart | ENB | CA29250N1050 | MarketScreener
Technical analysis trends ENBRIDGE INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 51,29 CAD
Last Close Price 44,26 CAD
Spread / Highest target 31,0%
Spread / Average Target 15,9%
Spread / Lowest Target -20,9%
EPS Revisions
Managers and Directors
NameTitle
Albert Monaco President, CEO & Non-Independent Director
Gregory Lorne Ebel Non-Executive Chairman
Colin K. Gruending Chief Financial Officer & Executive Vice President
Bhushan Ivaturi Chief Information Officer & Senior Vice President
Vera Maureen Kempston-Darkes Independent Director
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