Macquarie Reiterates a Buy Rating on Enbridge Inc

By Carrie Williams

In a report released yesterday, Robert Hope from Macquarie reiterated a Buy rating on Enbridge Inc (NYSE: ENB). The company’s shares closed yesterday at $42.04.

Enbridge Inc has an analyst consensus of Moderate Buy.

The company has a one year high of $45.77 and a one year low of $27.43. Currently, Enbridge Inc has an average volume of 3.02M.

Enbridge, Inc. engages in the provision of gas and oil businesses. It operates through the following segments: Liquid pipelines, gas distribution, gas pipelines processing and energy services, sponsored investments, and corporate. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest and other feeder pipelines. The Gas Distribution segment consists of the company’s natural gas utility operations which serve residential, commercial and industrial customers, primarily in central and eastern Ontario as well as northern New York State. The Gas Pipelines, Processing and Energy Services segment consists of investments in natural gas pipelines, processing and green energy projects, the company’s commodity marketing businesses and international activities. The Sponsored Investments segment includes the company’s ownership interest in Enbridge Energy Partners LP, Alberta Clipper Project and Enbridge Income Fund. The Corporate segment consists of the company’s investment in Noverco, Inc., new business development activities, general corporate investments and financing costs not allocated to the business segments. The company was founded on April 30, 1949 and is headquartered in Calgary, Canada.