Enbridge Inc
ENB: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 35.00 | Lhvlc | Bcxnbknl |
Enbridge Is Well-Prepared for the Competing Trans Mountain Pipeline Expansion
Business Strategy and Outlook
Enbridge stands out among North American midstream operators with a focus on oil pipelines and a utility-like earnings profile. The firm's most important asset, its Mainline system, controls over 70% of Canada's takeaway capacity and is linked to highly complex U.S. refineries that value heavy oil, meaning demand remains secure in the near to medium term despite the increase in U.S. light oil production. Over 80% of Enbridge's EBITDA is protected against inflation.