Last $51.52 USD
Change Today +1.10 / 2.18%
Volume 1.7M
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Company Description

Contact Info

3000 Fifth Avenue Place

425 - 1st Street S.W.

Calgary, AB T2P 3L8

Canada

Phone: 403-231-3900

Fax: 403-231-3920

These contracts provide EGD with access to the United States sourced natural gas delivered to Dawn. These contracts also provide transportation for natural gas received at Dawn through the Vector Pipeline, as well as natural gas stored at EGD’s and Union’s storage pools in the Sarnia, Ontario area to the market area. Storage: The business of EGD is seasonal as daily market demand for gas fluctuates with changes in weather, with peak consumption occurring in the winter months. Utilization of storage facilities permits EGD to take delivery of gas on favourable terms during off-peak summer periods for subsequent use during the winter heating season. EGD’s principal storage facilities are located in southwestern Ontario, near Dawn, and have a total working capacity of approximately 112 bcf. Approximately 91 bcf of the total working capacity is available to EGD for utility operations. EGD also has storage contracts with third parties for 21 bcf of storage capacity. Gas Pipelines, Processing and Energy Services This segment consists of investments in natural gas pipelines, gathering and processing facilities and the company’s energy services businesses, along with renewable energy and transmission facilities. Investments in natural gas pipelines include the company’s interests in the United States portion of the Alliance System (Alliance Pipeline US), the Vector Pipeline (Vector), and transmission and gathering pipelines in the Gulf of Mexico. Investments in natural gas processing include the company’s interest in Aux Sable, a natural gas fractionation and extraction business located near the terminus of the Alliance System (Alliance). The energy services businesses undertake physical commodity marketing activity and logistical services, refinery supply services and manage the company’s volume commitments on the Alliance, Vector and other pipeline systems. Sponsored Investments This segment includes the company’s 20.6% ownership interest in EEP, its 66.7% investment in the United States segment of the Alberta Clipper Project through Enbridge Energy Partners, L.P. (EEP) and EELP and an overall 67.3% economic interest in the Enbridge Income Fund (Fund), held both directly and indirectly through Enbridge Income Fund Holdings Inc. (EIFH). The company, through its subsidiaries manages the day-to-day operations of, and develops and assesses opportunities for each of these investments, including both organic growth and acquisition opportunities. EEP transports crude oil and other liquid hydrocarbons through common carrier and feeder pipelines, including the Lakehead Pipeline System, which is the United States portion of the Enbridge mainline system; and transports, gathers, processes, and markets natural gas and natural gas liquids (NGL). The primary operations of the Fund include renewable power generation, crude oil and liquids pipeline and storage businesses in Western Canada and a 50% interest in the Canadian portion of Alliance (the ‘Alliance Pipeline Canada’). The Fund operates three major businesses, such as renewable and alternative power generation (Green Power); crude oil and liquids pipeline transportation and storage (Liquids Transportation and Storage); and a 50% interest in Alliance Pipeline Canada. Within Green Power, the Fund has interests in approximately 500 MW of renewable and alternative power generation capability. Liquids Transportation and Storage operates a crude oil gathering system and trunkline pipeline in southern Saskatchewan and southwestern Manitoba, connecting to the company’s mainline pipeline to the United States. The Fund’s Liquids Transportation and Storage also includes the Canadian portion of the Bakken Expansion Program, as well as the Hardisty Contract Terminals and Hardisty Storage Caverns located near Hardisty, Alberta. Signiifcant Events Costs of the Canadian L3R Program would be recovered through a 15-year toll surcharge mechanism under the Competitive Toll Settlement, while EEP would recover the costs based on its existing Facilities Surcharge Mechanism with the initial term of the agreement being 15 years. In May 2014, EDF EN Canada Inc. and Enbridge Inc. anno

 

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Industry Analysis

ENB

Industry Average

Valuation ENB Industry Range
Price/Earnings 35.7x
Price/Sales 1.2x
Price/Book 5.0x
Price/Cash Flow 15.3x
TEV/Sales 0.1x
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