Updating Enbridge Inc., Emera Inc. and Andrew Peller Ltd.

Article Excerpt

ENBRIDGE INC. $45 (www.enbridge.com) reported that its cash flow per share in the second quarter of 2019 rose 3.6%, to $1.14 a share from $1.10 a year earlier. That gain is largest due to new oil and natural gas pipelines and higher volumes on its existing network. Colder-than-usual spring weather also spurred consumer gas demand for home heating. However, environmental opposition to the company’s plans to replace its older U.S. pipelines could hurt its cash flow later this year. Hold. EMERA INC. $56 (www.emera.com) continues to benefit from its July 2016 purchase of Teco Energy for $13.9 billion. That firm supplies electricity and natural gas to customers in Tampa Bay, Florida, and New Mexico. In the three months ended June 30, 2019, earnings from Teco jumped 31.6%, partly due to the startup of new solar energy projects. Teco now accounts for over half of Emera’s earnings. Buy. ANDREW PELLER LTD. $14 (www.andrewpeller.com) is Canada’s second-largest producer of wines, after Arterra Wines. Through…