New deal could lead to more

Article Excerpt

ENBRIDGE INC. $62.78 (Toronto symbol ENB; Shares outstanding: 848.8 million; Market cap: $53.5 billion; TSINetwork Rating: Above Average; Divd. yield: 3.0%; www.enbridge.com) has won a contract to build an underwater pipeline that will pump crude oil from a new platform in the Gulf of Mexico to an existing pipeline network. This deal is worth $130 million, which is small next to the $8.3 billion of revenue the company reported for the three months ended September 30, 2014. However, deals like this enhance Enbridge’s already strong reputation in the region; its pipelines already carry about 40% of the natural gas produced in the Gulf’s deeper areas. The new line should start up in 2018. Enbridge is a buy. buy. …