ENBRIDGE INC. $62.78 - Toronto symbol ENB

ENBRIDGE INC. $62.78 (Toronto symbol ENB; Shares outstanding: 848.8 million; Market cap: $53.5 billion; TSINetwork Rating: Above Average; Divd. yield: 3.0%; www.enbridge.com) has won a contract to build an underwater pipeline that will pump crude oil from a new platform in the Gulf of Mexico to an existing pipeline network.

This deal is worth $130 million, which is small next to the $8.3 billion of revenue the company reported for the three months ended September 30, 2014.

However, deals like this enhance Enbridge’s already strong reputation in the region; its pipelines already carry about 40% of the natural gas produced in the Gulf’s deeper areas. The new line should start up in 2018.

Enbridge is a buy.

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Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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