Updating Enbridge Inc., Precision Drilling Corp., and Linamar Corp.

Article Excerpt

ENBRIDGE INC. $42 (Toronto symbol ENB; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 1.8 billion; Market cap: $75.6 billion; Price-to-sales ratio: 1.6; Dividend yield: 7.0%; TSINetwork Rating: Above Average; www.enbridge.com) continues to sell some of its less-important assets to help pay down the debt it took on to buy Spectra Energy in February 2017. That firm operates crude oil and natural gas pipelines in the U.S. and Canada. As a result, Enbridge’s debt was $58.7 billion, or a high 78% of its market cap, as of September 30, 2018. The company will now sell its New Brunswick operations, which distribute natural gas to 12,000 customers in the southern part of the province. The buyer, Algonquin Power and Utilities Corp. (Toronto symbol AQN), will pay $331 million when it completes the purchase in 2019. Enbridge is still a hold. PRECISION DRILLING CORP. $2.65 (Toronto symbol PD; Aggressive Growth Portfolio, Resource sector; Shares outstanding: 293.8 million; Market cap: $778.6 million; Price-to-sales ratio: 0.5; Dividend suspended in…

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