Dernières nouvelles pour Enbridge (NYSE:ENB) Stock

Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

Enbridge Inc

ENBRIDGE INC 5.50% PFD A by Enbridge Inc.

ENBRIDGE INC PREF SER 13 by Enbridge Inc.

ENB FINANCIAL CORP PA by ENB Financial Corp.

ENB Financial Corp

ENBRIDGE INC RE PRF SER 7 by Enbridge Inc.

RBC Capital analyst Maurice Choy reiterates Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) with a Outperform and raises the price target from $59 to $63.

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RBC Capital Reiterates Outperform on Enbridge, Raises Price Target to $63

President-elect Donald Trump and Canadian Prime Minister Justin Trudeau&#8216;s meeting last week about planned tariffs on Canada was said to be productive, but it could put several Canadian sectors <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">on high alert.</a>
What Happened: Trudeau flew to Mar-a-Lago to <a href="https://www.benzinga.com/media/24/11/42252924/canadian-pm-justin-trudeau-warns-trumps-25-tariff-plan-will-hurt-americans-at-high-stakes-dinner">meet with Trump</a>, and the two political leaders ate dinner and discussed several key topics before Trump's January inauguration.
The meeting took place after Trump promised to impose 25% tariffs on Canada when he was sworn into office.
Trudeau told Trump the tariffs would hurt Canada's economy, according to sources at the dinner table, <a href="https://www.foxnews.com/politics/trump-suggests-canada-become-51st-state-after-trudeau-said-tariff-would-kill-economy-sources">per </a>Fox News.
The tariffs are being placed on Canada and Mexico due to illegal immigrants and illegal drugs flowing from those countries to the United States.
Sources said Trump was direct regarding his conversation with Trudeau, telling the Canadian leader that his country has failed to protect the border. Trump also wants to eliminate the trade deficit with Canada, estimated to be around $100 billion, according to the sources.
"So your country can't survive unless it's ripping off the US to the tune of $100 billion?" Trump reportedly said to Trudeau about the trade deficit.
The report said that if Canada can't survive with the requirements of protecting the border and fixing the trade deficit, Trump suggested that the neighboring country could become the 51st state instead.
Trudeau and others at the table nervously laughed at the suggestion, with Trump reportedly adding that the title of prime minister is better than governor. As the meeting concluded, talks between Trump and Trudeau were said to have been "very positive."
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Why It's Important: The report said Trump told Trudeau he expected changes to be made ahead of his January inauguration, or the tariffs would be placed on Canada on his first day in office.
A tariff on Canada could impact several sectors, including some of the top exporters to the United States. Crude oil, petroleum gas, vehicles, car parts, machinery, turbines, plastics, pharmaceuticals, metals and agricultural products are among the top exported items from Canada to America, as <a href="https://www.washingtonpost.com/business/2024/11/26/what-us-imports-canada-mexico-china-trump-tariffs/">reported </a>by the Washington Post.
Large Canadian oil companies Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) could face significant impacts from the tariffs and a potential blow to the sector.
Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could also be impacted by the tariffs and the negative impact on trade between the United States and Canada.
Canadian ETFs like the iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), JPMorgan BetaBuilders Canada ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBCA#BATS">BBCA</a>), Franklin FTSE Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) and Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) could also be impacted by the potential trade war.
Canada is the second-largest trade partner with the United States, with $418 billion in goods imported from Canada in 2023 and $354 billion in goods exported to the country.
Goldman Sachs economists predict that Canada's gross domestic product<a href="https://www.benzinga.com/24/12/42291861/trumps-tariff-plan-risks-economic-pain-for-north-america-goldman-sachs-warns" target="_blank" rel="noopener"> could decline</a> by as much as 4% if Trump&#8217;s 25% tariff plan is enacted. The plan could also hurt the U.S. GDP, the analysis said.
"A large increase in tariffs on North American imports would entail significant economic costs, particularly for Canada and Mexico," Goldman Sachs economists said.
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<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
</ul>
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Trump Told Trudeau Canada Could Dodge Tariffs As 51st State: Which Sectors Could Be Hit

HIGHLIGHTS
(All financial figures are unaudited and in Canadian dollars unless otherwise noted. &#x2A; identifies non-GAAP financial measures. See the Non-GAAP and Other Financial Measures section of this news release)
<ul>
<li>Announced 2025 adjusted earnings before interest, income taxes and depreciation (EBITDA)&#x2A; guidance of $19.4 billion to $20.0 billion and distributable cash flow (DCF)&#x2A; per share of $5.50 to $5.90</li>
<li>Declared 30th consecutive annual common share dividend increase, raising it by 3.0% to $0.9425 per quarter ($3.77 annualized), effective March 1, 2025</li>
<li>Reaffirmed 2024 full year guidance for EBITDA and DCF per share; the Company expects to finish the year near the top end of the EBITDA range of $17.7 billion to $18.3 billion, and around the midpoint for DCF per share</li>
<li>The Company reaffirmed its 2023 to 2026 growth outlook of 7-9% for EBITDA&#x2A; growth, 4-6% for adjusted earnings per share (EPS)&#x2A; growth and approximately 3% for DCF per share&#x2A; growth</li>
</ul>

Guidance

Enbridge Reaffirms 2024 Guidance; For 2025 Sees Adjusted EBITDA Of $19.4B-$20B And DCF Per Share Of $5.50-$5.90

Enbridge Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) (Enbridge or the Company) announced today that its Board of Directors has declared a quarterly dividend of C$0.9425 per common share, payable on March 1, 2025 to shareholders of record on February 14, 2025.&nbsp; The declared dividend represents a 3% increase from the prior quarterly rate and the thirtieth consecutive year in which the Company has increased its common share dividend.

Dividends

TSX:ENB

Enbridge Increases Quarterly Dividend By 3% To C$0.9425/Common Share, Payable March 1, 2025

President-elect Donald Trump&#8216;s move to impose 25% tariffs on Canada can thwart the growth of the stock markets and affect corporate profits, inflation, transportation and oil marketing companies.
What Happened: This comes as Goldman Sachs head of commodities research, Daan Struyven told <a href="https://www.bloomberg.com/news/articles/2024-11-27/goldman-sees-significant-hit-to-us-from-trump-s-canada-tariffs">Bloomberg </a>that &#8220;The 25% levy on all products from Canada proposed by Trump would likely raise the price of fuels in the U.S.&#8221;
&#8220;He said that tariffs could significantly affect U.S. consumers, U.S. refiners, and Canadian producers," on Wednesday. In order for American producers to export more of their own oil, the U.S. imports almost 4 million barrels of Canadian crude a day. Struyven added that this could be a &#8220;negotiating tool.&#8221;
"Given the focus from Trump to lower energy costs, we think Canada tariffs are somewhat unlikely,&#8221; he added
U.S. and Canada along with Mexico signed the United States–Mexico–Canada Agreement as an update to North American Free Trade Agreement, or NAFTA in 2020. It allowed for mostly duty-free trade between the three countries. Trump&#8217;s threat of tariffs would seem to violate the terms.
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a>
Why It Matters: As higher Canadian tariffs could raise the domestic fuel prices in the U.S., it will impact the corporate profits of many companies and increase both, consumer and producer price inflation.
The input costs of transportation and oil marketing companies can increase, which may lower their profits and stock prices. Also, investors may want to short the stocks of these companies when oil prices are high.
A few of the many transportation companies that would get affected by this include, Union Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>), CSX Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Old Dominion Freight Line Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), TFI International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFII#NYSE">TFII</a>), Knight-Swift Transportation Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), XPO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) and Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>).
Similarly, companies like Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>), Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), Enbridge Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) are a few oil marketing companies that my bear the direct brunt of this.
Read next: <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">Michael Saylor&#8217;s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a>
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Trump's Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: 'Would Likely Raise The Price Of Fuels,' Says Analyst

RBC Capital analyst Maurice Choy reiterates Enbridge (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) with a Outperform and maintains C$59 price target.

RBC Capital Reiterates Outperform on Enbridge, Maintains C$59 Price Target

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of C$0.55 per share which missed the analyst consensus estimate of C$0.56 by 1.79 percent. This is a 11.29 percent decrease over earnings of C$0.62 per share from the same period last year. The company reported quarterly sales of C$14.882 billion. This is a 51.18 percent increase over sales of C$9.844 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Enbridge Q3 2024 Adj. EPS C$0.55 Misses C$0.56 Estimate, Sales C$14.882B Up From C$9.844B YoY

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of C$0.55 per share which missed the analyst consensus estimate of C$0.56 by 1.79 percent. This is a 11.29 percent decrease over earnings of C$0.62 per share from the same period last year.

Enbridge Q3 2024 Adj. EPS C$0.55 Misses C$0.56 Estimate

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) is set to give its latest quarterly earnings report on Friday, 2024-11-01. Here's what investors need to know before the announcement.
Analysts estimate that Enbridge will report an earnings per share (EPS) of $0.44. 
Enbridge bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Overview of Past Earnings</h3>
In the previous earnings release, the company missed EPS by $0.04, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Enbridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.60</td>
<td>0.50</td>
<td>0.440</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.42</td>
<td>0.68</td>
<td>0.47</td>
<td>0.462</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730383236_0.png" alt="eps graph" />
<h3>Enbridge Share Price Analysis</h3>
Shares of Enbridge were trading at $40.59 as of October 30. Over the last 52-week period, shares are up 20.07%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ENB/earnings">To track all earnings releases for Enbridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Look at Enbridge's Upcoming Earnings Report

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) is gearing up to announce its quarterly earnings on Friday, 2024-11-01. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Enbridge will report an earnings per share (EPS) of $0.44.
Investors in Enbridge are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.04, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Enbridge's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.46</td>
<td>0.60</td>
<td>0.50</td>
<td>0.440</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.42</td>
<td>0.68</td>
<td>0.47</td>
<td>0.462</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730383229_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Enbridge were trading at $40.59 as of October 30. Over the last 52-week period, shares are up 20.1%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/ENB/earnings">To track all earnings releases for Enbridge visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Enbridge's Earnings Outlook

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MSFT

Enbridge Partners With Microsoft To Use AI To Drive Advancements In Safety, Emissions Reduction, And Asset Optimization Across Its Operations

Large Cap

Commodities

General

Enbridge Will Build, Own, And Operate Crude Oil And Natural Gas Pipelines In US Gulf Of Mexico For Kaskida Development, Operated By Bp Exploration & Production Company, Detailed Design And Procurement Activities Will Start In Early 2025 And Be Operational By 2029, With Cost Of ~$700M

Enterprise Products Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is currently considered undervalued, trading at a 9.81x trailing 12-month enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), which is below the broader industry average of 11.89x.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6c/79322.jpg?v=432385788" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
While a discount valuation often presents a potentially profitable opportunity for investors, it is essential to investigate whether the partnership is facing any internal challenges. A more comprehensive analysis is required to determine if EPD&#39;s discounted valuation is justified based on its fundamentals, growth prospects and prevailing market conditions.
<h2>EPD&#39;s $7B Key Projects &amp; Handsome Distribution Yield</h2>
Enterprise Products, a top-tier North American midstream service provider, boasts a vast and diversified asset portfolio. This includes more than 50,000 miles of pipelines and a storage capacity of 300 million barrels. These assets are utilized by shippers on long-term contracts to transport and store natural gas liquids, crude oil, refined products and petrochemicals. The partnership also has 14 billion cubic feet of natural gas storage capacity, securing stable fee-based revenues.
Additionally, EPD is set to generate additional fee-based earnings with $6.7 billion worth of major capital projects either currently in service or under construction. These project backlogs will not only secure stable cashflows but will also generate handsome unit-holder returns.
<img alt="Enterprise Products Partners LP" src="https://staticx-tuner.zacks.com/images/articles/charts/42/75535.jpg?v=193354622" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Enterprise Products Partners LP
Supported by its stable and resilient business model, Enterprise Products has achieved 26 consecutive years of distribution hikes. The current distribution yield of the partnership stands at 7.2%, higher than 6.5% of the composite stocks belonging to the&nbsp;industry.
Distribution Yield
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/31/79324.jpg?v=379506337" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>EPD to Buy Pinon Midstream: Additional Fee-Based Earnings?</h2>
On Aug. 21, Enterprise Products announced an agreement to acquire Pi&ntilde;on Midstream for $950 million in an all-cash transaction. Pi&ntilde;on, a key player in gas gathering, compression and treating, operates in the Delaware Basin, a sub-basin of the Permian.
Once the acquisition of all the equity interests in Pi&ntilde;on is completed, likely in the fourth quarter of this year, Enterprise Products will secure additional fee-based earnings. This is because Pi&ntilde;on&#39;s assets, comprising 50 miles of natural gas gathering pipelines, compressor stations and treating facilities with plans for significant capacity expansion, are backed by long-term fee-based contracts, minimizing exposure to commodity price fluctuations and reducing volume risks.
Pi&ntilde;on operates a premier sour gas treatment system in the Delaware Basin, an area with significant untapped potential. With the acquisition, EPD will be able to establish a significant presence in the basin much faster.
<h2>Should Investors Take a Chance on Undervalued EPD Stock?</h2>
Despite these positive developments, the partnership&#39;s stock is trading at a discount to its true value. Year to date, its units have jumped 17.3%, lagging the industry&#39;s composite stock growth of 24.2%. Prominent midstream companies such as Kinder Morgan Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) and Enbridge Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) have also surpassed EPD, achieving gains of 31% and 20.5%, respectively, during the same timeframe.
Year-To-Date Price Chart
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/64/79326.jpg?v=1283134383" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
It appears that Enterprise Products has the potential to outperform the industry once the stock market begins to acknowledge its true value. However, there are concerns surrounding the stock, particularly regarding EPD&#39;s rising long-term debt, which is near its highest level in over a decade. This debt is primarily being utilized to finance substantial capital projects, and analysts worry that significant debt reduction may not occur in the near term. Recently, the company issued $2.5 billion in bonds at relatively favorable rates, but current borrowing rates exceed historical averages, resulting in increasingly rapid interest payments.
While EPD is currently undervalued, investors are probably better off not buying the stock until there is greater clarity on the partnership&#39;s future. Those who already own the stock should hold on to it. The stock carries a Zacks Rank #3 (Hold) at present.
Notably, major brokers have increased EPD&#39;s short-term price target by 14.1% from its recent closing price of $29.25, with the highest target set at $37, indicating a potential upside of 26.5%. Consequently, current investors holding their units stand to benefit from this upward price trend in the interim.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/40/79323.jpg?v=1169870962" style="border-style:solid; border-width:1px; height:310px; width:600px" />
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<a href="https://www.zacks.com/stock/news/2342205/is-enterprise-s-cheap-valuation-an-opportunity-to-invest-in-the-stock?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2342205">To read this article on Zacks.com click here.</a>

Bonds

Is Enterprise's Cheap Valuation an Opportunity to Invest in the Stock?

RBC Capital analyst Maurice Choy maintains Enbridge (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ENB#TSX">ENB</a>) with a Outperform and raises the price target from C$54 to C$55.

RBC Capital Maintains Outperform on Enbridge, Raises Price Target to C$55

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 14.71 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $5.291 billion which missed the analyst consensus estimate of $5.713 billion by 7.39 percent. This is a 13.08 percent increase over sales of $4.679 billion the same period last year.

Enbridge Q2 2024 Adj. EPS C$0.58 Misses C$0.64 Estimate, Commodity Sales C$5.291B Miss C$5.713B Estimate

Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $0.64 by 9.38 percent. This is a 14.71 percent decrease over earnings of $0.68 per share from the same period last year.

Enbridge Q2 2024 Adj. EPS C$0.58 Misses C$0.64 Estimate

FANG

WhiteWater, MPLX, And Enbridge Partner With Targa Resources To Construct Blackcomb Pipeline After Securing Agreements With Major Shippers Including Devon Energy, Diamondback Energy, Marathon Petroleum, And Targa Resources

Enbridge Says Co Did Experience Some Impacts To Business Applications As A Result Of The CrowdStrike Update; All Energy Infrastructure Is Stable And Operating As Normal, No Assets Are At Risk; Most Applications Are Now Restored And No Further Impacts Are Expected

Enbridge&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) is once again under scrutiny as the U.S. Department of Justice (&quot;DOJ&quot;) has proposed amendments to a 2016 consent decree. This change could mandate Enbridge to address previously identified cracks in its extensive Lakehead pipeline system, including the controversial Line 5.
The backdrop to this development dates back to 2010 when two significant oil spills from ENB&#39;s pipelines near Marshall, MI, and Romeoville, IL, resulted in severe environmental damage. These spills led to the unlawful discharge of oil into U.S. waters, triggering a lawsuit by the United States under the Clean Water Act and the Oil Pollution Act. The legal action sought civil penalties, recovery of cleanup costs and injunctive relief to prevent future incidents.
In 2017, a Consent Decree approved by the United States District Court for the Western District of Michigan established stringent requirements for Enbridge&#39;s network of 14 pipelines, collectively known as the Lakehead System. This decree included specific criteria for selecting and repairing pipeline sections, imposing interim pressure restrictions, and monitoring for features such as cracks detected through In-Line Inspections.
The latest proposed modifications specifically target how Enbridge handles circumferential cracks that encircle the pipeline rather than running lengthwise. These changes would require Enbridge to reassess such cracks using new methodologies tailored to the unique threats posed by circumferential cracks. This reassessment would consider all potential stresses that could cause these cracks to grow and ultimately fail, obligating ENB to schedule any necessary repairs promptly.
The impetus for these proposed changes can be traced back to the catastrophic 2010 oil spill from Enbridge&#39;s Line 6b near Marshall, MI. This rupture released more than a million gallons of oil into Talmadge Creek and the Kalamazoo River, going undetected for several hours and causing extensive environmental damage.
The DOJ and Enbridge reached a settlement agreement in 2016 to resolve the lawsuits stemming from the Marshall and Romeoville spills. Now, with the proposed amendments, the DOJ aims to ensure that ENB takes more proactive and comprehensive measures to address pipeline integrity issues, particularly focusing on circumferential cracks.
The Lakehead System, which spans the Midwest, includes Line 5, a 71-year-old pipeline that runs beneath the ecologically sensitive Straits of Mackinac. This segment of the pipeline has been a focal point of environmental concerns and legal battles, with advocates calling for its shutdown due to the potential risk of an oil spill in the Great Lakes.
Once approved, the proposed changes to the consent decree could significantly impact Enbridge&#39;s operations, compelling the company to adopt enhanced safety measures and ensure the long-term integrity of its pipeline network. This move underscores the ongoing efforts by federal authorities to mitigate environmental risks and hold energy companies accountable for the safe operation of their infrastructure.
<h3>Zacks Rank &amp; Key Picks</h3>
Currently, Enbridge carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like&nbsp;GeoPark Ltd.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gprk#NYSE">GPRK</a>),&nbsp;Sunoco LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) and&nbsp;The Williams Companies, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmb#NYSE">WMB</a>). GeoPark and Sunoco currently sport a Zacks Rank #1 (Strong Buy), whereas Williams Companies carries a Zacks Rank #2 (Buy).
GeoPark, based in Hamilton, Bermuda, is an explorer, operator and consolidator in the oil and gas sector. The company primarily operates in Chile, Colombia, Brazil and Argentina. It has a Zacks Style Score of A for Value and Growth.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $3.23 and $3.98, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Williams Companies is a premier energy infrastructure provider in North America. The company&#39;s core operations include finding, producing, gathering, processing and transportation of natural gas and natural gas liquids.WMB is paying out its shareholders an attractive dividend yielding around 5%.&nbsp;
The Zacks Consensus Estimate for WMB&#39;s 2024 and 2025 EPS is pegged at $1.79 and $2.03, respectively. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2300176/enbridge-enb-faces-doj-pressure-for-pipeline-crack-repairs?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2300176">To read this article on Zacks.com click here.</a>

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