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Enbridge Inc. (ENB.TO)
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Nov 6 was under $36 It’s probably not going to happen again line 3 will be completely by 2021 this line 3 Is the king jewel￼ of Enbridge extra revenue from this line coil be close to $800 to 900 million
Right now line 3 it’s carry 300 thousand barrels per day the price ranges￼ $5.10 to $6 after complete will run full 760,000
This line safety holds psi 1200 it’s only going to run 600 Pressure That’s amazing safety
New to this board and looking into buying some shares. Looking at what I can understand this price point seems to be a bit on the high side ? Do you suggest getting in now or trying to watch and get it cheaper. TIA
In an economy and market where many companies are depressed and struggling to generate cashflows, especially in the energy sector, ENB continues to thrive and generate substantial FCF while compensating investors for the wait with their dividend. This a long hold for me, I will continue to build my position as we move forward 👍
With the div increase to be announced on/ around dec 8th, this is going to run at least until Feb with the next div. Takes the div cut fear out of the market. Stock Yields are coming down and price should run up to $50 by the next ex-div on yield alone. More good news on line 3 and 5 will push it further.
Love these snippets about oil/gas dependency in Michigan (and elsewhere in the USA). Anyone who thinks O&G is dead and ENB is dying......just think about these stats....
1) ".....even though the world's largest fuel consumer is starting to rely more on renewables, fossil fuels still provide almost all of its road fuel and natural gas accounts for about 40% of electricity generation."
2) "....Pipelines moved 4.4 billion barrels of foreign and domestic crude oil to refineries in 2019, while rail cars accounted for just 123.6 million barrels, or 3% of pipeline volumes, and trucking was about 2.4% of pipeline volume, U.S. Energy Information Administration data showed."
3) Switching Upper Peninsula customers to an alternative fuel source, like natural gas, would be far from simple. Separate lines are required from those that carry liquid fuels like propane, so a new right-of-way would be needed. End users like homes and businesses would need to switch their own tankage and private pipes to the new fuel, at a greater cost than paying more for propane that is trucked in."
So, stick that in your pipe(line) and smoke it......
The new Line 3, is a 36” pipeline that will restore the pumping capacity from 390,000 bpd to 760,000 bpd. That’s 95% increase over the current rate. One only can think the revenue on that line will increase accordingly.
Hey days ahead!
....and another announcement after the bell.....I expected it, just not this quickly.
Line 3 Moves Forward to Construction
Tue, November 24, 2020, 6:33 PM GMT-5
CALGARY, AB and DULUTH, Minn., Nov. 24, 2020 /CNW/ - The Line 3 Replacement Project has received approval to begin construction. Today the Minnesota Public Utilities Commission issued their authorization to construct. The one remaining permit is a storm water permit which is provided by the Minnesota Pollution Control Agency.
CALGARY, AB and DULUTH, Minn, Nov. 23, 2020 /CNW/ - Today the US Army Corps of Engineers announced approvals of federal permits for Enbridge's Line 3 project, including the Section 404, Section 10 and Section 408 permits.
"We have now received all federal permits required for replacing Line 3, an essential maintenance project that will better protect Minnesota communities and the environment," said Leo Golden Vice President of Line 3 Execution. "These permits reflect yet another science-based approval for the project, which now moves closer to the start of construction, hopefully before the end of the year. Final state permits and authorizations are still needed before work can begin."
Happy I snatched my 7000 shares in March at $33
No brainer for huge dividend + obvious upward potential to $50 minimum.
I love this move even better:
Enbridge files suit to block Michigan's actions against Line 5
The federal Pipeline and Hazardous Materials Safety Administration "is Enbridge's safety regulator, not the state of Michigan," the company says, noting the safety of Line 5's dual pipelines was determined fit for service.
"Line 5 has served Michiganders safely without spilling a drop of oil at the Straits [of Mackinac] crossing for more than 65 years, over nine different state administrations," Enbridge says.
Take that, Ms. Governor!!!!
This will be back over 50 by next month
congrats to everyone who got in under 40. bounced right off the March lows as the charts said it would
Enbridge Line 3 gets construction OK; needs stormwater construction permit before work can begin
The move comes one day after the U.S. Army Corps of Engineers issued a separate key permit.
Written By: Jimmy Lovrien | Nov 24th 2020 - 5pm.
A tanker truck passes by an Enbridge storage tank. Forum News Service file photo
A tanker truck passes by an Enbridge storage tank. Forum News Service file photoMichael Vosburg / Forum News Service
The Minnesota Public Utilities Commission granted Enbridge's controversial Line 3 oil pipeline project the authorization to construct, leaving just a stormwater permit to be approved before construction can begin.
In a letter filed Tuesday, PUC Executive Secretary William Seuffert told Enbridge officials that PUC staff had agreed the company had submitted the necessary preconstruction documents required by the project's route permit. The PUC in February voted 3-1 to approve Line 3's route permit, and the order was issued in October.
"Commission staff has advised me, and I agree, that the compliance documents submitted by Enbridge, as identified in this letter, are in general agreement with the terms and conditions of the October 26, 2020 Pipeline Routing Permit and that Enbridge has complied with the pre-construction compliance filing requirements," Seuffert wrote.
Seuffert noted Enbridge still needed to file the name and contact information for the project's tribal monitor.
In its preconstruction compliance review earlier this month, the Minnesota Department of Commerce's Energy and Environmental Review and Analysis department also noted that filing was needed by Enbridge, but it sent its recommendation without it to help ensure construction can take place in winter.
"(Energy Environmental Review and Analysis) generally waits until all required filings are received before commencing its preconstruction review," Andrew Levi, environmental review manager, wrote in the Nov. 12 letter. "However, given the strong desire of the Department of Natural Resources and the Pollution Control Agency for the permittee to utilize winter construction to mitigate impacts, staff is filing this letter although there is a single filing outstanding."
Enbridge is hoping to begin construction on its $2.9 million, 340-mile pipeline by the end of the year. Once construction begins, it should take six to nine months to complete. Once complete, the pipeline will replace the existing, aging Line 3 and ferry 760,000 barrels of oil (31.92 million gallons) per day from Alberta, Canada, to Enbridge's terminal in Superior, following a new route through much of northern Minnesota. The segments in Canada, North Dakota and Wisconsin are already complete.
"With this construction authorization from the Minnesota Public Utilities Commission, just one final permit is needed for replacing Line 3, an essential maintenance project that will better protect Minnesota communities and the environment," Enbridge spokesperson Juli Kellner said in a statement Tuesday.
The project still needs a stormwater construction permit from the Minnesota Pollution Control Agency. The MPCA has until Dec. 23 to issue the permit, or 30 days after the U.S. Army Corps of Engineers' Tuesday approval of Line 3's water permit.
Opponents of the pipeline — environmental groups, the White Earth Band of Ojibwe and the Red Lake Band of Chippewa Indians — have vowed to continue fighting the project in court and have long argued the risk of a spill is too high and the pipeline increases reliance on fossil fuels at a time when people should be moving to renewables to combat climate change.
60 by February and at 100 end of next year
Line 3 final approval and Dow tracking closer and closer to 30,000. Looking for a strong day tomorrow.
Enbridge is well-managed company thank you Mr. Al￼ Monaco to save 300 million this year and 400 million in 2021 to help share holders like me to have the trust you Guys deserve
I was holding enbridge for the longest time. Of course the day I decide to sell, that night I get an email saying army corps approves the final permits for line 3. Boy, the capital market gods are not on my side these days haha
I invested in Enbridge for my first time about 2 months ago. I purchased Enbridge for the dividends. I had read many articles that stated their dividends should be safe overall. After reading some of the Q3 results, I am a little confused as to how they can afford to pay out their dividend. Q3 stated that the quarterly dividend that they pay out is $0.81 per share, but that the earnings per share are only $0.36. That would mean that $0.81 - $0.36 = $0.45 has to come from somewhere other than earnings. Does this mean they must borrow the money in order to cover the extra $0.45? And if so, how would they be able to keep this up over time?
Any input is greatly appreciated
Shaker & Mover
Enbridge begins construction of new solar facility in Pennsylvania
Contributor Nov 20, 2020 1:47PM EST
Nov 20 (Reuters) - Enbridge Inc ENB.TOsaid on Friday it has begun construction of the Heidlersburg solar project in Tyrone Township, Pennsylvania designed to use solar panels to help power its natural gas pipeline operations.
Construction work on the privately funded about $6.5 million project began in November 2020, with operations expected to begin in the second quarter 2021, the company said in a statement.
The Heidlersburg solar project will produce 2.5 megawatts of solar energy and will contribute towards company's emission reduction targets, which includes achieving net zero greenhouse gas emissions by 2050.
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