Enbridge goes global

Article Excerpt

ENBRIDGE INC. $52.89 (Toronto symbol ENB; Shares outstanding: 831.5 million; Market cap: $43.9 billion; TSINetwork Rating: Above Average; Dividend yield: 2.7%; www.enbridge.com) has won approval to export some of the Canadian crude oil it ships into the U.S. to other countries. Under the license terms, the pipeline operator must separate U.S.-produced oil from Canadian crude. The company expects exports to other markets to account for less than 2% of the volume its U.S. oil pipelines currently handle. However, shipping oil to refineries in Europe and elsewhere would help producers collect higher prices for their crude. That would encourage them to raise their output, increasing demand for space on Enbridge’s pipelines. Enbridge is a buy. buy…