Enbridge Inc T.ENB

OPEC+ meeting canceled, sending oil prices climbing higher

[FiddyFiddyOddz]

https://www.cnn.com/2021/07/05/investing/opec-meeting-canceled-oil-production/index.html?utm_source=optzlynewmarketribbon

[FiddyFiddyOddz]

With WTI now north of 76 a barrel, shouldn't ENB be closer to 60 than it is to Fiddy ? Fiddy wrote :"https://www.cnn.com/2021/07/05/investing/opec-meeting-canceled-oil-production/index.html?utm_source=optzlynewmarketribbon"  

[silkos]

Fiddy, not quite right. If WTI will reach $100, would it imply that ENB would be $78? WTI @ $200 >> ENB $156? You can't make up valuation formulas for ENB based on WTI alone. No sir, it doesn't work that way.

[FiddyFiddyOddz]

SILKOS - I'm just saying that when ENB was at 57 in Feb 2020, WTI was only around 53.  Although not based on WTI prices alone, I would assume that if WTI is where it's at now ( 43 % higher than it was in Feb 2020) - then I don't think it's a stretch that ENB should have gained at least HALF that much from the Feb 2020 share price.   A 20 % gain from 57 bucks would

[FiddyFiddyOddz]

SILKOS - Case In Point :   Take a look at the price of WTI today. At 11:20am it's down 1 and 1/2 % to 74 dollars.  If ENB isn't infulenced by the price of WTI, why is down 1 % today ????  And for that matter, why are all the other pipelines also down today, they down't "own" any oil either.  Think about it.   This is a perfect example of ENB

[silkos]

Fiddy: can you post here the formula you use in your calculation so that every one can comment? Thanks! PS: The entire energy sector is down. It could be a healthy sell off ... which would be considered good news.

[FiddyFiddyOddz]

SILKOS - The formula is quite simple - LOOK AT YOUR SCREEN ! Oh, and why is "the entire energy sector down" ??   That's right, because WTI is down... CHEERS ! Silkos wrote:"Fiddy: can you post here the formula you use in your calculation so that every one can comment? Thanks! PS: The entire energy sector is down. It could be a healthy sell off ... which would be

[silkos]

Thank you for sharing the math behind it now I finally get it. You have a special screen :) Oil producers are direct dependent on OIL price. ENB is not. If you check OIL producers you will find reference to Brent Crude and WTI, you can find info on hedging etc. Nothing like that for ENB. There is not one formula that is using the commodity price for ENB. Even if you say it a thousand times, it

[silkos]

Hey Fiddy, what does your screen say now? How is the math adding up and what's the correlation between WTI and ENB?

[FiddyFiddyOddz]

SILKOS - My screen shows oil as being basically flat, yet ENB still managed to find it's way in to the red. Silkos wrote:"Hey Fiddy, what does your screen say now? How is the math adding up and what's the correlation between WTI and ENB?"

[FiddyFiddyOddz]

Let's also not forget the TSX is up around 80 % from it's March 2020 low.  If ENB were keeping pace with the TSX, it should also be up 80 % from it's low of 33 and change in March 2020. HOWEVER, even at fiddy bucks a share, ENB has only realized a little over fiddy % in gains, meaning it's lagged the TSX recovery by 30'ish percent. Not a stellar performace no matter what

[silkos]

Interesting. How have OIL producers been doing for the past two days? How about  OIL, ENB?Actually you don't need to reply, I was just making a point.

[FiddyFiddyOddz]

I don't get your point.  All I know is that ENB is influenced by the price of WTI, full stop.   Silkos wrote:"Interesting. How have OIL producers been doing for the past two days? How about  OIL, ENB?Actually you don't need to reply, I was just making a point."

[NPCexe]

You're wrong fiddy, you're seeing a correlation that doesn't exist. Look at enb graph and look at wti graph ytd

[FiddyFiddyOddz]

Odd that today as oil recovered from session lows, so did Enbridge.  Must be just a coincidence right ? Npc wrote:"You're wrong fiddy, you're seeing a correlation that doesn't exist."

[NPCexe]

Again, take the yearly chart of WTI and ENB and overlap them. Perhaps you're more of a visual person. You will eventually see the correlation is negligible, brother

[autofocus111]

Fiddy I thought that if ENB hits 50 you were going to cash in? What are you waiting for... just do it.

[FiddyFiddyOddz]

AUTO - With our two resident experts Marner & Fantome calling for 80 bucks a share, perhaps i'll hang in till she hits something starting with a "7"  :) Auto wrote:"Fiddy I thought that if ENB hits 50 you were going to cash in? What are you waiting for... just do it."

[NPCexe]

ENB was at 57 not because of oil prices.