Enbridge Inc. - Price Forecast Update
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Enbridge Inc. (TSX, NYSE:ENB) is Canadian based energy infrastructure company with assets of $170.5B at Mar-31-2016 compared to $86B in assets as of Dec-31-2016. The 98% increase in assets resulted from acquisitions of approximately $82M and $2B from capital development spending completed in Q1-2017. The largest acquisition was Spectra Energy Inc. making Enbridge one of the largest midstream companies in North America. Enbridge operates in five business segments: Liquids Pipelines; Gas Distribution; Gas Pipelines and Processing; Green Power and Transmission; and Energy Services. The two largest segments are Liquids Pipelines and Natural Gas Distribution. Enbridge operates the world's longest crude oil and liquids transportation system across Canada and the U.S., with 27,500km of pipelines contributing 70% of earnings, natural gas distribution, gathering, transmission and midstream business contribute 10% of earnings with the balance from power generation. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in 3,500MW (2,500 MW net) of renewable and alternative energy generating capacity which is operating, secured or under construction. They recently acquired a large wind power project in Germany.
Spectra Energy Corp (NYSE: SE), is one of North America's leading pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include 27,500 km of natural gas pipelines, 3,600km of oil pipelines approximately 300B cubic feet of natural gas storage; 4.8M barrels of crude oil storage. Spectra Energy is the general partner of Spectra Energy Partners (NYSE: SEP), one of the largest pipeline master limited partnerships in the United States and owner of the natural gas and crude oil assets in Spectra Energy's U.S. portfolio. Spectra Energy also has a 50% ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States.
Capital Spending, Dispositions
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