ENBRIDGE INC. $53.46 - Toronto symbol ENB

ENBRIDGE INC. $53.46 (Toronto symbol ENB; Shares outstanding: 834.8 million; Market cap: $45.2 billion; TSINetwork Rating: Above Average; Dividendyield: 2.6%; www.enbridge.com) recently won Ottawa’s approval for its Northern Gateway pipeline.

The project faces strong opposition from environmentalists and First Nations. As well, the Supreme Court recently issued a ruling that makes it easier for aboriginal groups to claim title to their traditional lands.

However, Enbridge does not expect the ruling to block Northern Gateway. There are no land claims along the pipeline’s route, and the company has signed equity-sharing deals with 26 First Nations.

Enbridge is a buy.

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