Line 3 moves ahead

Article Excerpt

ENBRIDGE INC. $41.56, is a buy. The firm (Toronto symbol ENB; Shares o/s: 2.0 billion; Market cap: $82.1 billion; TSINetwork Rating: Above Average; Dividend yield: 7.8%; www.enbridge.com) has won two key permits—from the Minnesota Public Utilities Commission and the U.S. Army Corps of Engineers—for the planned upgrade of the U.S. portion of its Line 3 pipeline. Line 3 pumps crude oil from Alberta to Wisconsin. The company completed the Canadian portion of this project in December 2019. Enbridge expects to secure a final permit from Minnesota’s Pollution Control Agency in the next few days. That would let it begin construction before the new year. The company expects to spend a total of $2.6 billion U.S. on line 3. Enbridge Inc. is a buy. buy…