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Bullboard - Stock Discussion Forum Enbridge Inc T.ENB.PR.Y


Primary Symbol: T.ENB Alternate Symbol(s):  ENB | T.ENB.PF.A | T.ENB.PF.C | T.ENB.PF.E | ENBOF | ENBFF | T.ENB.PF.G | EBBNF | T.ENB.PF.U | T.ENB.PF.V | EBGEF | T.ENB.PR.A | ENBGF | T.ENB.PR.B | EBRGF | T.ENB.PR.D | EBRZF | T.ENB.PR.F | T.ENB.PR.H | ENBHF | T.ENB.PR.J | ENBRF | T.ENB.PR.N | ENNPF | T.ENB.PR.P | ENBMF | T.ENB.PR.T | T.ENB.PR.V | EBBGF | ENBNF | T.ENB.PF.K | T.ENB.PR.G | T.ENB.PR.I | T.ENB.PR.Z

Enbridge Inc. is an energy transportation and distribution company. The Company operates through five business segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. Liquids Pipelines consists of pipelines and terminals in Canada and the United States that transport and export various grades of crude oil and... see more

TSX:ENB - Post Discussion

Enbridge Inc > FYI: some comments re: profit/split
View:
Post by TimeBuilder on Aug 04, 2023 2:50pm

FYI: some comments re: profit/split

UPDATE 3-Pipeline operator Enbridge boosts quarterly profit, not eyeing split

(Updates with comments about split option, Alberta renewable power delay)

By Arshreet Singh and Rod Nickel

Aug 4 (Reuters) - Canadian pipeline operator Enbridge Inc reported higher second-quarter profit on Friday due to increased oil volumes, and said it was not considering splitting its business.

Rival TC Energy said last week it would spin off its oil pipeline operations and focus on transporting natural gas, saying the businesses would be more valuable apart.

"Increasingly you're seeing that premier valuations should go to companies that can play all parts of the energy evolution," Enbridge CEO Greg Ebel said on a call with analysts.

"I just don't see (a split) today for a company of our breadth, size and diversity, and frankly low risk diversification."

Shares of the Calgary, Alberta-based company rose 0.6% to C$48.36 in Toronto.

Enbridge officials said they had no late-stage renewable power projects affected by a delay in approvals by Alberta over the government's concerns about land use and reliability.

"This balanced approach of governments starting to focus on affordability, security and reliability makes sense," Ebel said.

Enbridge's Mainline system, which ships the bulk of Canadian crude to the U.S., transported 3 million barrels per day (bpd) in the second quarter, compared with 2.8 million bpd a year earlier.

The Mainline earned C$1.45 billion ($1.09 billion) in the quarter, up 19% from last year.

The company reaffirmed its 2023 core earnings guidance and posted adjusted earnings of 68 Canadian cents, in line with analysts' average expectations, according to Refinitiv data.

Enbridge reported net income of C$1.8 billion, or 91 Canadian cents per share, for the quarter, compared with C$450 million or 22 Canadian cents per share in the same period of last year.

($1 = 1.3371 Canadian dollars) (Reporting by Arshreet Singh in Bengaluru and Rod Nickel in Winnipeg; Editing by Sriraj Kalluvila and Jan Harvey)

Comment by corvette67 on Aug 04, 2023 3:47pm
Markets are too crazy these days. This one is insane. Enjoy the div y in the meantime. Will definitely pop up sooner or later. GLTA
Comment by bttmfischer on Aug 04, 2023 5:01pm
As a holder of ENB common and ENB preferrd shares, however I am not too optimstic. The good numbers for the second quarter reflect  revenues and costs up to June 30, 2023. That means the problem with line 5 is not included. That could be a very large  expense, and a potential loss of substantial revenue. At the moment we do not know the extent of the monetary consequences of Line 5..
Comment by Quintessential1 on Aug 05, 2023 5:59am
Don't we?  The Judge ordered a payment of $5.1 million for the previous 10 years of "trespass" Based on the "$1.8 billion of net income" for Q2 alone, $5.1 million over ten years is little more than a rounding error.  Considering ENB is appealing the court decision, the only uncertainty is when ENB has to pay, if ever. Oh yeah, Go Enbridge! ;-)
Comment by TimeBuilder on Aug 07, 2023 1:32pm
We maybe wrong in our thinking BUT firmly believe that the FN's  " think " we are ALL trespassing on their native lands ... coast to coast to coast .  JMO 
Comment by Quintessential1 on Aug 08, 2023 4:27am
Well, they may not be wrong in a lot of cases as certain treaties are starting to prove out. In this case, ENB obviously had a contract and permission to originally build and feel that contract is still valid.  The court has decided that it may not be and the appeals process will prove that out one way or another but until then "trespass" is arguable. Go Enbridge! ;-)
Comment by bttmfischer on Aug 08, 2023 1:15pm
And   in case the natives  forget that, a number of law firms working on a 20-30% consignement fee,will be very quick to point that pot to chiefs and council.of the tribes involved in this dispute with Enbridge. Of course the next,  crucial election in the US may have an influence on this matter before the courts.  We will see;  whether or not we will like the outcome, is ...more  
Comment by bttmfischer on Aug 08, 2023 1:17pm
Typo: OUT
Comment by Dibah420 on Aug 08, 2023 6:35pm
Well, maybe you're not ALL wrong.  But  they were here before us, with nobody around for millennia. Do we really think if a guy in a serge coat with brass buttons and epaulettes jumps off a boat,   slams a flag in the sand and claims everything as far as the eye can see and beyond, in the name of some distant king/queen/emperor,  THAT makes a claim valid? I am both ...more  
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