Enbridge invests in safety

Article Excerpt

ENBRIDGE INC. $38.65 (Toronto symbol ENB; Shares outstanding: 796.9 million; Market cap: $30.8 billion; TSINetwork Rating: Above Average; Dividend yield: 2.9%; www.enbridge.com) recently finished repairing its leaking oil pipeline in Wisconsin. The company has faced criticism over leaks like this. That could hurt its proposed $5.5- billion Northern Gateway project, which would pump oil from Edmonton to Kitimat, B.C. However, Enbridge still has a strong safety record, and it has pledged to spend an extra $500 million on safety for Northern Gateway. This investment includes thicker steel at river crossings, 50% more inspections and aroundthe- clock staffing at remote pumping stations. Enbridge is a buy. buy…