Updating Enbridge Inc. and Encana

Article Excerpt

ENBRIDGE INC. $47.24 (Toronto symbol ENB; Shares outstanding: 860.1 million; Market cap: $40.5 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%; www.enbridge.com) has paid $200 million U.S. for 100% of the New Creek Wind Project in West Virginia. This development consists of 49 wind turbines that can generate a total of 103 megawatts. It should start up in December 2016. The company has long-term contracts to sell this power at fixed rates, which cuts the risk of this investment. Including this purchase, Enbridge has invested $5 billion (Canadian) in renewable power projects with a total capacity of 2,000 megawatts. These investments will help the company cope with new emission rules in Alberta and elsewhere, which could reduce the need for future oil and gas pipelines. Enbridge is a hold. ENCANA $10.20 (Toronto symbol ECA; Shares outstanding: 842.5 million; Market cap: $8.6 billion; TSINetwork Rating: Average; Dividend yield: 3.7%; www.encana.com) continues to sell less important assets as it shifts its focus…