|Bid||50.50 x 0|
|Ask||50.58 x 0|
|Day's Range||50.09 - 50.57|
|52 Week Range||39.69 - 51.96|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||17.55|
|Forward Dividend & Yield||2.95 (5.86%)|
|1y Target Est||N/A|
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(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.
Time is one of the biggest factors when it comes to investing for the long term, especially when you're building a portfolio of high-quality stocks like Enbridge Inc (TSX:ENB)(NYSE:ENB).
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,946.90, up 7.29 points.)Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up $1.25, or 3.22 per cent, to $40.12 on 10.1 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 22 cents, or 6.83 per cent, to $3.44 on 8.3 million shares.Encana Corp. (TSX:ECA). Energy. Up 20 cents, or 3.76 per cent, to $5.52 on 7.2 million shares.Enbridge Inc. (TSX:ENB). Energy. Down 53 cents, or 1.04 per cent, to $50.40 on 6 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up 36 cents, or 2.65 per cent, to $13.96 on 5.6 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up 17 cents, or 0.67 per cent, to $25.65 on 5.5 million shares. Companies in the news:Empire Co. Ltd. (TSX:EMP.A). Down $3.25 or 9.3 per cent to $31.60. Sobeys and Safeway parent company Empire Co. Ltd. says sales softened in the last couple of months but increased overall in the second quarter to $6.44 billion, up from $6.21 billion last year while same-store sales excluding fuel increased two per cent. The company earned $154.6 million for the 13 weeks ended Nov. 2, compared with a profit of $103.8 million a year ago. On an adjusted basis, Empire earned 58 cents per diluted share in its latest quarter, up from an adjusted profit of 40 cents per share a year ago.Transcontinental Inc. (TSX:TCL.A). Up 96 cents or 7.5 per cent to $13.71. Transcontinental Inc. beat expectations even though its core earnings fell in the fourth quarter due to lower revenues from ongoing challenges in its printing sector. The Montreal-based printer and packaging company says earnings excluding proceeds from the sale of its California printing facility and other one-time items, decreased nearly 20 per cent to $69.9 million or 80 cents per share, from $87 million or 99 cents per share in the fourth quarter of 2018. Net earnings increased to $112.3 million or $1.28 per share for the period ended Oct. 27, compared with $67 million or 67 cents per share a year earlier.Transat AT Inc. (TSX:TRZ). Down seven cents to $15.91. Higher ticket prices and fees helped Transat AT Inc. triple its profits last quarter as it worked to complete its takeover by Air Canada. Net income jumped to $20.3 million in the quarter ended Oct. 31, up from $6.8 million a year earlier. Revenue rose 3.6 per cent to $693.2 million from $668.8 million. Despite spending more on maintenance than in 2018, chief financial officer Denis Petrin said, higher average ticket prices and growth in ancillary revenue led to the increase in profit. Transat shareholders voted in August to approve the acquisition by Air Canada, but the deal still faces scrutiny by regulators eyeing the impact of a takeover that will see Air Canada control about 62 per cent of transatlantic air travel from Canada.Royal Bank of Canada. (TSX:RY). Up two cents to $103.75. Royal Bank of Canada has signed a deal to sell its banking operations in the Eastern Caribbean to a consortium of banks based in the region. The agreement, RBC announced Thursday without financial terms, includes branches in Antigua, Dominica, Montserrat, St. Lucia, and St. Kitts and Nevis. It also includes regional businesses operating under RBC Royal Bank Holdings (EC) Limited in Nevis, Grenada and St. Vincent and the Grenadines. The acquiring consortium of five financial entities includes 1st National Bank of St. Lucia, Antigua Commercial Bank Ltd., National Bank of Dominica Ltd., the Bank of Montserrat and Bank of Nevis Ltd.This report by The Canadian Press was first published Dec. 12, 2019.The Canadian Press
The TFSA has outpaced the decades-old RRSP as the choice savings account, but still, more TFSA holders are using it the wrong way.
Tired of declines? This trio of momentum stocks, including Wesdome Gold Mines (TSX:WDO), might have the rocket fuel you need.
Enbridge (TSX:ENB)(NYSE:ENB) now yields 6.3% and offers wonderful total returns at a decent valuation.
If you want to generate free cash on a regular basis, simply create your own passive income stream using pipeline stocks like Inter Pipeline (TSX:IPL).
Use Enbridge and Royal Bank stocks to create a second pension that can bolster your retirement income from the Canadian Pension Plan.
If the Canadian dollar plunges in value, your financial future could be at risk. Stocks like Hydro One Ltd (TSX:H) can insulate you from volatility.
CALGARY — The CEO of Enbridge Inc. says an updated environmental review released by a Minnesota state agency on Monday is a "good outcome" but declined to speculate on when its oft-delayed Line 3 pipeline replacement project will be completed.The state Department of Commerce found no serious threat to Lake Superior if crude oil leaks from the pipeline that carries Canadian crude from Alberta across North Dakota and Minnesota on the way to Enbridge's terminal in Superior, Wis.State regulators ordered the update after the Minnesota Court of Appeals in June declared that an earlier review, issued in February 2018, was inadequate because it failed to specifically address the potential impacts of a spill into the Lake Superior watershed.CEO Al Monaco, speaking on a webcast from Enbridge's New York investor day on Tuesday, said the Minnesota Public Utilities Board will allow comment on three topics — adequacy of the final environmental impact statement, the certificate of need and the routing permit — at a one-day oral hearing on Dec. 19, with the comment period closing in mid-January."We think it's a good outcome that the PUC is going to have a comment period related to all three of those items," he said."It doesn't change our approach in that we're not providing any specific guidance on in-service date but obviously a good, positive outcome here, I think."The project would double the capacity of the existing Line 3 pipeline, which was built in the 1960s and is increasingly subject to cracking and corrosion. Environmental and tribal groups have been fighting the project because of the potential for spills in the Mississippi River headwaters region and because the oil would contribute to climate change.The Canadian portion of the pipeline entered service on Dec. 1. Analysts at Stifel FirstEnergy say they are estimating a Jan. 1, 2022 startup date for the U.S. side — much later than Enbridge's last official estimate of the second half of 2020.Growing demand for energy around the globe is a positive signal for Enbridge but growing opposition to midstream projects like pipelines has increased costs and risks, Monaco told investors."It's tougher to get things done so we've had to develop and have developed a unique execution capability and skill set that is built for this environment," he said."In terms of how we grow the business, the approach is that we're going to focus on projects that optimize and expand the existing footprint, diversifying our opportunity set, again, especially on exports."On Monday, Enbridge announced it would work with Enterprise Products Partners L.P. to jointly develop a deep-water offshore crude oil export terminal capable of loading Very Large Crude Carriers (VLCCs) on the U.S. Gulf Coast in Texas.It also announced that it will advance the development of a new oil storage terminal at Houston with ultimate capacity of up to 15 million barrels of storage and access to crude from throughout North America.Enbridge announced Monday it would raise its quarterly dividend by nearly 10 per cent to 81 cents per share, effective March 1, up from its previous rate of 73.8 cents.The shares will have a yield of about 6.3 per cent, based on Enbridge's closing share price on Monday.In its outlook for 2020, Enbridge says it expects earnings before interest, taxes, depreciation and amortization of about $13.7 billion.Distributable cash flow per share for 2020 is expected to be in a range of $4.50 to $4.80 per share.This report by The Canadian Press was first published Dec. 10, 2019.Companies in this story: (TSX:ENB)Dan Healing, The Canadian Press
Let us take a look at Enbridge – a stock you can buy and hold in your TFSA to realistically reach the fabled $1,000,000 mark in your account.