Enbridge grows in the GTA

Article Excerpt

ENBRIDGE INC. $39.39 (Toronto symbol ENB; Shares outstanding: 796.9 million; Market cap: $31.4 billion; TSINetwork Rating: Above A v e r a g e ; D i v i d e n d y i e l d : 2 . 9 % ; www.enbridge.com) plans to spend $600 million to expand its natural gas distribution system in the Greater Toronto Area, including Brampton, Mississauga, Vaughan, Richmond Hill and Markham. The existing system hasn’t had a major expansion for 20 years, and in that time, the total number of customers that Enbridge serves in the area has almost doubled, from 1.1 million to 1.9 million. These upgrades will help the company sell more gas in the fast-growing communities outside Toronto. Enbridge aims to complete this project in 2015. Enbridge is a buy. buy…