ENBRIDGE INC. $43 - Toronto symbol ENB

ENBRIDGE INC. $43 (Toronto symbol ENB;Conservative Growth Portfolio, Utilities sector;Shares outstanding: 799.9 million; Market cap: $34.4billion; Price-to-sales ratio: 1.4; Dividend yield: 2.9%;TSI Network Rating: Above Average;www.enbridge.com) has bought 50% of the Massifdu Sud wind project in Quebec. This is the company’s second wind power investment in that province.

Enbridge paid $170.0 million for its stake in this facility. That’s equal to 63.2% of the $269.0million, or $0.34 a share, that it earned in the three months ended September 30, 2012.

Wind farms don’t make money on their own, but operators profit from subsidies. This project has a20-year deal to sell its power to Hydro-Quebec.

Enbridge is a buy.

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