Enbridge adds solar

Article Excerpt

ENBRIDGE, $63.00, is a buy. The firm (Toronto symbol ENB; Shares o/s: 2.2 billion; Market cap: $136.6 billion; TSINetwork Rating: Above Average; Dividend yield: 6.0%; www.enbridge.com) operates pipelines that pump oil and natural gas from Western Canada eastward as well as to the U.S. Its network transports 30% of the crude oil produced in North America, and 20% of the natural gas consumed in the U.S. Under a plan to cut its greenhouse gas emissions to zero by 2050, Enbridge also invests in renewable energy projects. For example, through a 50/50 joint venture with EDF Renewables, it recently started up a new solar power project in Ohio. Online retailing giant Amazon.com Inc. (Nasdaq symbol AMZN) has agreed to buy all of this facility’s power under a long-term agreement. That cuts the risk of this investment. Enbridge is a buy. buy. …