RE:RE:RE:RE:OPEC+ meeting canceled, sending oil prices climbing higherENB was at 57 not because of oil prices.
FiddyFiddyOddz wrote: 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 put Enbridge at about 68 a share.
Although ENB doesn't "own" any oil, it does get dragged along with the price of WTI, although the downward drag seems always to be more pronounced than the upward pull.
Silkos wrote :"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."