ENB invests in renewables

Article Excerpt

ENBRIDGE $52.23 is a #1 Buy for 2021. The firm (Toronto symbol ENB; Shares o/s: 2.0 billion; Market cap: $105.8 billion; TSINetwork Rating: Above Average; Dividend yield: 6.4%; www.enbridge.com) has agreed to buy 2 billion cubic feet of renewable natural gas (RNG) annually from U.S.-based Vanguard Renewables. Vanguard makes RNG using the gases produced by the breakdown of organic matter, such as agricultural waste, manure, municipal waste, plant material, sewage and food waste. As part of the deal, Enbridge will invest $100 million to help Vanguard upgrade its RNG equipment. Blending RNG with regular natural gas in its distribution networks will help Enbridge meet its goal of cutting the intensity of greenhouse gas emissions 35% by 2035. It aims to reach net-zero emissions by 2050 Enbridge is a #1 Buy for 2021. 2021…