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

Michigan regulator to weigh climate impact of Enbridge oil line tunnel

04/21/2021 | 03:51pm EDT

CALGARY, Alberta, April 21 (Reuters) - A state of Michigan regulator said on Wednesday it will consider the impact of climate-warming greenhouse gas emissions when deciding whether Enbridge Inc can build an underwater tunnel to rehouse a four-mile (6-km) section of its Line 5 oil pipeline.

The Michigan Public Service Commission (MPSC) agreed with interveners, including environmental groups, that GHG emissions are pollutants whose impact must be considered under the Michigan Environmental Protection Act.

"The Commission will also allow evidence to be presented on the greenhouse gas emissions resulting from the fossil fuels being transported through the replacement segment," the MPSC said in a statement.

Calgary-based Enbridge proposed building the tunnel to address concerns that the 68-year-old pipeline, which currently runs along the lakebed of the Straits of Mackinac connecting Lakes Huron and Michigan, could leak. Michigan Governor Gretchen Whitmer has ordered the pipeline to shut down entirely by May, a move Enbridge is battling in court.

Line 5 ships 540,000 barrels per day of oil and refined products from Superior, Wisconsin, to Sarnia, Ontario, and is a vital link in Enbridge's export network.

Environmental campaigners opposed to Line 5 hailed the decision as a win.

"It recognizes that the Michigan Environmental Protection Act applies to consideration of greenhouse gas emissions that would be spurred by Enbridge's proposed oil pipeline tunnel," said Liz Kirkwood, executive director of For Love of Water.

Enbridge spokesman Ryan Duffy said the company would provide information for the review as requested by the commission.

The MPSC rejected calls to review the entire Line 5 pipeline, and said it would limit the scope of its review to the four-mile section being rehoused in the tunnel. Enbridge's Duffy said the company welcomed that decision. (Reporting by Nia Williams Editing by Marguerita Choy)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ENBRIDGE INC. -1.51% 46.58 Delayed Quote.14.84%
LONDON BRENT OIL -1.95% 67.49 Delayed Quote.32.80%
WTI -2.16% 64.151 Delayed Quote.35.96%
All news about ENBRIDGE INC.
10:26aTSX edges higher on healthcare boost; energy stocks fall
RE
09:31aNatural Gas Trading Lower But Remains Rangebound Ahead of Fresh Storage Data
MT
08:49aRBC on Bank of Canada's Governor Scheduled Speech Thursday; Notes COVID-19 Up..
MT
08:12aDesjardins Lists Possible Questions for Bank of Canada Governor on Thursday
MT
05/13ENBRIDGE INC. : Ex-dividend day for
FA
05/12ENBRIDGE  : Company defies Michigan governor's order to close pipeline
AQ
05/12QUEBEC'S LOCATION AND ENERGY ALTERNA : expert
AQ
05/12ENBRIDGE  : Business leaders in Michigan, Ohio, Wisconsin urge court to keep Lin..
AQ
05/12MARKET CHATTER : Enbridge Says to Continue Normal Operations, Detroit Free Press..
MT
05/12TSX falls on fear of higher interest rate
RE
More news
Financials
Sales 2021 42 801 M 35 269 M 35 269 M
Net income 2021 5 533 M 4 559 M 4 559 M
Net Debt 2021 71 033 M 58 533 M 58 533 M
P/E ratio 2021 17,5x
Yield 2021 6,89%
Capitalization 97 835 M 80 876 M 80 618 M
EV / Sales 2021 3,95x
EV / Sales 2022 3,80x
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 48,30 CAD
Spread / Highest target 22,2%
Spread / Average Target 8,98%
Spread / Lowest Target -17,2%
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.14.84%80 876
ENTERPRISE PRODUCTS PARTNERS L.P.18.17%50 937
TC ENERGY CORPORATION18.67%49 093
KINDER MORGAN, INC.32.41%40 989
THE WILLIAMS COMPANIES, INC.26.08%30 709
MPLX LP29.38%28 837