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    ENB   CA29250N1050

ENBRIDGE INC.

(ENB)
  Report
Delayed Toronto Stock Exchange  -  01:16 2022-10-03 pm EDT
52.69 CAD   +2.87%
12:20pCanada's Enbridge names Chairman Ebel as CEO, replacing Monaco who retires after 10 years
RE
11:16aEnbridge's Al Monaco to retire Jan. 1, board chair Greg Ebel named next CEO
AQ
09:37aEnbridge CEO Monaco to step down next year
RE
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Phillips 66 offers to buy pipeline operator DCP Midstream

08/17/2022 | 06:00pm EDT

HOUSTON, Aug 17 (Reuters) - U.S. refiner Phillips 66 on Wednesday offered to acquire the public units of DCP Midstream in a deal that would value the pipeline operator at $7.2 billion deal and bulk up Phillip's natural gas liquids business.

A deal would mark the first major move by Mark Lashier, who took over as the chief executive officer of Phillips 66 last month. Earlier this year, the company acquired the public units in transportation and storage business Phillips 66 Partners.

Canadian pipeline operator Enbridge, which owned 50% of DCP's general partner, said it would reduce its stake in the company to 13.2% from 28.3%. It received a $400 million cash payment from Phillips 66 as part of the deal.

Enbridge will, in turn, take over as operator and more than double its stake in Grey Oak pipeline, previously operated by Phillips 66. The Grey Oak pipeline transport crude oil from West Texas to the Gulf Coast.

Phillips 66's economic interest in the Gray Oak pipeline will fall to 6.50% from 42.25%.

(Reporting by Arathy Somasekhar in Houston; editing by Gary McWilliams and Diane Craft)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENBRIDGE INC. 2.85% 52.69 Delayed Quote.3.66%
LONDON BRENT OIL 0.75% 88.47 Delayed Quote.9.50%
PHILLIPS 66 3.28% 83.36 Delayed Quote.11.40%
S&P GSCI CRUDE OIL INDEX 5.03% 457.6344 Real-time Quote.5.69%
WTI 1.40% 83.159 Delayed Quote.8.90%
All news about ENBRIDGE INC.
12:20pCanada's Enbridge names Chairman Ebel as CEO, replacing Monaco who retires after 10 yea..
RE
11:16aEnbridge's Al Monaco to retire Jan. 1, board chair Greg Ebel named next CEO
AQ
09:37aEnbridge CEO Monaco to step down next year
RE
09:34aEnbridge CEO Monaco to step down next year
RE
09:32aEnbridge CEO to Retire; Replacement Named
MT
09:10aEnbridge CEO Monaco to step down
RE
09:01aEnbridge Announces Al Monaco's Retirement; Names Greg Ebel as President and CEO
AQ
09:01aEnbridge Brief: Announcing Al Monaco's Retirement; Names Greg Ebel as Pre..
MT
07:36aEnbridge Taps Greg Ebel to Replace Al Monaco as CEO
DJ
09/30Enbridge Buy Rating Reiterated at UBS Following Tri Global Acquisition; Price Target Ke..
MT
More news
Analyst Recommendations on ENBRIDGE INC.
More recommendations
Financials
Sales 2022 52 467 M 38 470 M 38 470 M
Net income 2022 5 435 M 3 985 M 3 985 M
Net Debt 2022 79 041 M 57 955 M 57 955 M
P/E ratio 2022 19,5x
Yield 2022 6,72%
Capitalization 104 B 75 538 M 76 043 M
EV / Sales 2022 3,48x
EV / Sales 2023 3,33x
Nbr of Employees 10 900
Free-Float 86,3%
Chart ENBRIDGE INC.
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Technical analysis trends ENBRIDGE INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 51,22 CAD
Average target price 60,05 CAD
Spread / Average Target 17,2%
EPS Revisions
Managers and Directors
Albert Monaco President, CEO & Non-Independent Director
Vern D. Yu Chief Financial Officer & Executive Vice President
Gregory Lorne Ebel Non-Executive Chairman
Bhushan N. Ivaturi Chief Information Officer & Senior Vice President
Lisa D Wilson Chief Compliance Officer & Vice President
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