Enbridge Inc T.ENB

Is a spinoff of oil pipelines ala TRP's recent move coming?

[autofocus111]

This deep push into the utility business makes me wonder if ENB may be contemplating an eventual spinoff of the oil transport biz to become a natgas/renewables 'pureplay'.

[ztransforms173]

- another DUMB MOVE pushed on by the GROUPTHINK Bay Steet bankers who ONLY CRAVE BIG M&A and EQUITY FEES and DAMM everybody else - this "FINANCIAL ENGINEERING" is usually LOOKED UPON for the SHORT-TERM MULTIPLE EXPANSION but TOTALLY IGNORES the LONG-TERM INTERESTS of the shareholders and the AWESOME DIVERSITY of INCOME and MARKETS - any CEO or Board of Director who PROPOSES such a

[ztransforms173]

- another company who's LEADERS have their BLINDERS ON Teck Resources pulls proposal to split company ahead of shareholder meeting Decision sign the miner isn’t confident that shareholders would approve the plan, giving Glencore an edge in takeover battle https://financialpost.com/commodities/mining/teck-resources-withdraws-proposal-to-split-company - the shareholders of TECK

[Experienced]

autofocus....great question!! A spinoff of the oil pipeline business is an intriguing possibility.  After this new deal is completed, about 75% of ENB's bottom line will come from gas pipelines, LNG and gas utilities.  The key question is whether there would be any takers for a selloff of the oil pipeline business or a spinoff. From the SU Board it would appear that there are many

[autofocus111]

ENB generates ~57% of EBITDA from liquids pipelines and that drops to ~50% after the new acquisitions (not sure where you got the 75%). The BMO analyst another poster quoted actually refers to the possibility that ENB could sell a minority stake in the oil mainline to raise part of the funds needed for the utility asset purchases from D. ENB's oil transport/storage/export infrastructure

[Experienced]

Take your word for it...read somewhere where the number was what I posted.

[Quintessential1]

From the investor presentation: [img]file:///C:/Users/user/Pictures/U.S.%20Gas%20Utilities%20Acquistion%20Investor%20Presentation%20Sept%202023.pdf[/img] https://www.enbridge.com/~/media/Enb/Documents/Investor-Relations/2023/2023_ENB_presentation_US_gas_utilities_acquisition_FINAL.pdf?rev=2f46826f47be4888b9d6feaa1c62b71f&hash=D8F9B1D65E5B8723647880F693C488CD Go Enbridge! ;-)