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Enbridge Inc. Q1-2018 Earnings & Price Trend Update

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Enbridge Inc. (TSX, NYSE:ENB) is Canadian based energy infrastructure company with assets of $163.5B at Mar-31-2018 compared to $86B as of Dec-31-2016. The increase in assets resulted mainly from the acquisition of Spectra Energy in Jul-2017, $12B from capital development spending completed for 2017 7B in 2018 of which $3B was completed in Q1-2018. For 2019, $13B of assets is forecast to be completed including $9B for the Canadian and US Line 3 replacement program. The acquisition of Spectra Energy Inc. transformed Enbridge from an oil pipeline focused company into natural gas transportation and distribution. They operate in five business segments: oil pipelines contributing 50% of revenues; natural gas pipelines -30%; natural gas utilities; 15%; power and transmission-5%. Enbridge delivers an average of 2.8M barrels of crude oil each day through its Mainline and Express Pipeline; representing 65% of U.S.-bound Canadian crude oil exports.

The financial results for Enbridge Energy Inc.(ENB) include Spectra Energy(SEP-NYSE) comprising 25% of AFFO, Enbridge Energy Partners(EEP-NYSE) – 12% of AFFO, Enbridge Income Fund Holdings(ENF-TSX) – 38% with the balance coming directly from Enbridge Inc. (ENB).

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