Updates on Enbridge, Torstar and Loblaw

Article Excerpt

ENBRIDGE INC. $40.94 (Toronto symbol ENB; Shares outstanding: 784.6 million; Market cap: $32.1 billion; TSINetwork Rating: Above Average; Dividend yield: 2.8%; www.enbridge.com) plans to build a new pipeline that would pump shale oil from the Bakken region of North Dakota to refineries in the U.S. and Canada. If it can sign up enough oil shippers, this new line would increase Enbridge’s capacity in the region by 67,000 barrels a day by the end of 2013. Right now, the company’s North Dakota pipelines can pump 210,000 barrels a day. The new line would cost $650 million. However, investments like this will help the company take advantage of North Dakota’s rising oil production, which has quadrupled since 2005. Enbridge is a buy. TORSTAR CORP. $10.50 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $839.0 million; TSINetwork Rating: Above Average; Dividend yield: 4.8%; www.torstar.com) has agreed to merge the distribution networks of its flagship newspaper, The Toronto Star, with those of its rival The Globe…