Enbridge Inc T.ENB

RE:IMO has massive Q1 turnaround

[silkos]

I expect big numbers from all Canadian Oil producers. The whole sector looks so unvervaluated. Hope investors react and money moves back.

Marner16 wrote:

• Net income of $392 million in the first quarter of 2021
• Cash flows from operating activities of over $1 billion in the first quarter
• Improved financial performance across all business segments compared to the fourth quarter
• Highest first quarter Upstream production in 30 years, driven by record gross production at Kearl
• Imperial reinstates significant share purchase program with plans to purchase up to four percent of outstanding common shares by June 28, 2021
• Quarterly dividend raised by almost 23% from 22 cents to 27 cents per share

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Takeaways:

* highest upstream production in 30 years means full pipes

* plans to repurchase up to 4% of O/S shares in the current quarter means two things....a) they believe the share price is undervalued.....b) they are dripping in cash

* not noted in the above bullet points but their CAPEX was down about 50% YoY with no notice of intent to expand CAPEX >>>>> which is another indicator that the industry continues to rethink the future >>>>> which means construction of future large scale pipes in N. America is unlikely >>>> which means ENB's pipes wll continue to increase in value as long as demand remains in place...the reasons that demand will remain strong is a separate topic