The Successful Investor Hotline – Friday, October 2, 2015

Article Excerpt

ENBRIDGE INC., $51.21, Toronto symbol ENB, has received regulatory approval to reverse the flow of crude oil on its Line 9 pipeline between Sarnia, Ontario, and Montreal. Under the plan, oil will now flow from Sarnia to Montreal. Enbridge will also increase the line’s capacity so it can handle heavy crude from Alberta’s oil sands. It took longer than expected for regulators to sign off, so the project’s cost jumped to $800 million from the company’s original estimate of $100 million. To put that in context, Enbridge earned $505 million, or $0.60 a share, in the three months ended June 30, 2015. The company still needs to finish some technical preparations, so it didn’t say when crude would start flowing through the line. Enbridge is a hold. Enbridge was recently covered in The Successful Investor Hotline for August 21, 2015. Click here to access it. Enbridge was recently covered in the June 2015 issue of The Successful Investor. Click here to access it. SNC-LAVALIN GROUP INC.,…