Our updates for safety-conscious investors: Enbridge, Imperial Oil & Loblaw

Article Excerpt

ENBRIDGE, $49.68, is a buy. The firm (Toronto symbol ENB; Shares outstanding: 2.1 billion; Market cap: $105.6 billion; TSINetwork Rating: Above Average; Dividend yeld: 7.4%; www.enbridge.com) is moving ahead with its plan to upgrade and encase the part of its Line 5 pipeline that crosses the Straits of Mackinac (between Lake Michigan and Lake Huron) inside an underground tunnel. Right now, the pipeline lies at the bottom of the straits, which makes it vulnerable to boat anchors and other hazards. The company expects this tunnel, which will cost at least $500 million, will extend the life of Line 5 by several decades. It will also eliminate the potential for a damaging oil spill. The plan still needs approval from the U.S. Army Corps of Engineers, expected in early 2026. Enbridge is a buy. IMPERIAL OIL LTD., $88.99, is a buy. The company (Toronto symbol IMO; Shares outstanding: 535.8 million; Market cap: $47.7 billion; TSINetwork Rating: Average; Dividend yield: 2.7%; www.imperialoil.ca) has started producing oil at its Grand Rapids oil…