Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Enbridge Inc.
  6. News
  7. Summary
    ENB   CA29250N1050

ENBRIDGE INC.

(ENB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Canada Asks U.S. Court to Delay Line 5 Pipeline Closure

05/11/2021 | 11:54am EDT

By Paul Vieira

OTTAWA -- Canada asked a U.S. federal court in Michigan on Tuesday to stop Gov. Gretchen Whitmer from shutting down this week a vital cross-border oil and gas pipeline because such a move would contravene a U.S.-Canada treaty.

Lawyers on behalf of the Canadian government filed a brief in support of Enbridge Inc., which is contesting Gov. Whitmer's plan to revoke the company's permit to operate the Line 5 pipeline that runs along the bottom of the Straits of Mackinac, between Lake Michigan and Lake Huron. Citing environmental concerns, she gave the company until Wednesday to shut down the pipeline, which carries about 540,000 barrels per day of western Canadian oil and natural gas liquids to refineries in central Canada and the northern United States.

Enbridge, based in Calgary, Alberta, has sued Michigan in federal court to stop the revocation, arguing the state has no authority to do so, and said it won't shut the pipeline down unless ordered by a court.

Canada, in its brief in support of Enbridge, said there should be no shutdown until the U.S. and Canadian officials work to resolve the matter, as allowed under the terms of a 1977 treaty between the North American countries. The brief said Canada has initiated discussions with the U.S. to resolve this matter.

That treaty prohibits authorities in either country from blocking pipelines that ship oil and gas across the border unless there is an emergency. Canada's lawyers added the treaty came about because of U.S. efforts to transport oil-and-gas products from Alaska through Canada to the lower 48 U.S. states.

"It is essential to the continued success of the U.S.-Canada relationship that both countries can trust that their reciprocal legal commitments will be fully honored and implemented, notwithstanding initiatives at the state, provincial or local government level," the Canadian brief said.

"Canada is seeking a mutually agreeable solution that also respects environmental and safety concerns. But neither this court nor any state court should act in a way that bypasses and undermines the treaty."

In a statement, Canada's Natural Resources Minister, Seamus O'Regan, said the government supports the continued mediation between Enbridge and the state of Michigan, under the supervision of the U.S. District Court of the Western District of Michigan. "We remain confident this will lead to a solution," the minister said.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

05-11-21 1354ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.27% 34299.33 Delayed Quote.12.65%
ENBRIDGE INC. 0.55% 49.7 Delayed Quote.21.42%
LONDON BRENT OIL 0.26% 74.44 Delayed Quote.40.72%
S&P GSCI NATURAL GAS INDEX -0.89% 151.1846 Delayed Quote.32.61%
WTI 0.27% 72.58 Delayed Quote.47.25%
All news about ENBRIDGE INC.
11:13aENBRIDGE  : Price Target Raised to C$54.00 After Minnesota Appeal Court Win
MT
09:35aNatural Gas Drops Off a Eight-Month High as Cooler Weather Expected for the E..
MT
08:29aENBRIDGE INC.  : - Minnesota Court of Appeals Affirms Line 3RP Revised FEIS, Cer..
AQ
08:26aENBRIDGE BRIEF : Seen A Buy With C$54 Price Target at UBS on "Positive" Line 3 R..
MT
06/14ENBRIDGE  : Minnesota court affirms approval of Line 3 oil pipeline
AQ
06/14Enbridge Line 3 Crude Pipeline Project Upheld by Minnesota Court of Appeals; ..
MT
06/14ENBRIDGE  : Minnesota Court of Appeals Affirms Line 3RP Revised FEIS, Certificat..
AQ
06/14MARKET CHATTER : Enbridge's Line 3 Permits Properly Granted, Minnesota Court of ..
MT
06/14Enbridge oil line scores a key win as Minnesota court affirms approval
RE
06/14ENBRIDGE  : Goldman Sachs Adjusts Enbridge PT to $35 From $31, Maintains Sell Ra..
MT
More news
Financials
Sales 2021 43 327 M 35 547 M 35 547 M
Net income 2021 5 532 M 4 539 M 4 539 M
Net Debt 2021 71 075 M 58 311 M 58 311 M
P/E ratio 2021 18,2x
Yield 2021 6,71%
Capitalization 101 B 82 655 M 82 598 M
EV / Sales 2021 3,96x
EV / Sales 2022 3,76x
Nbr of Employees 11 200
Free-Float 86,4%
Chart ENBRIDGE INC.
Duration : Period :
Enbridge Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENBRIDGE INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 52,64 CAD
Last Close Price 49,70 CAD
Spread / Highest target 18,7%
Spread / Average Target 5,91%
Spread / Lowest Target -11,5%
EPS Revisions
Managers and Directors
NameTitle
Albert Monaco President, CEO & Non-Independent Director
Colin K. Gruending Chief Financial Officer & Executive Vice President
Gregory Lorne Ebel Non-Executive Chairman
Bhushan Ivaturi Chief Information Officer & Senior Vice President
Tyler W. Robinson Chief Compliance Officer & VP-Enterprise Security
Sector and Competitors
1st jan.Capitalization (M$)
ENBRIDGE INC.21.42%82 499
ENTERPRISE PRODUCTS PARTNERS L.P.29.25%55 329
TC ENERGY CORPORATION23.98%51 736
KINDER MORGAN, INC.37.82%42 665
THE WILLIAMS COMPANIES, INC.37.26%33 430
MPLX LP43.79%32 049