Topic: How To Invest

The Successful Investor Hotline – Friday, July 6, 2018

Article Excerpt

ENBRIDGE INC., $46.69, Toronto symbol ENB, operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to consumers in Ontario, Quebec, New Brunswick and New York State. The company has agreed to sell its natural gas gathering and processing operations in B.C. and Alberta to Brookfield Infrastructure Partners LP (Toronto symbol BIP.UN). Those operations include 19 natural gas processing plants as well as liquid-handling facilities and 3,550 kilometres of gas pipelines. The sale excludes Enbridge’s main gas pipelines: the Westcoast transmission system in B.C. Columbia; and the Alliance pipeline, which pumps gas from Western Canada to Chicago. The company will receive $4.3 billion when it completes the sale in 2019. Including this deal, Enbridge has now sold $7.5 billion of its less-important assets this year. That’s well above the company’s original goal of $3.0 billion in sales. Enbridge will apply the proceeds to its long-term debt of $61.2 billion (as of March 31,…