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Enbridge Inc ENB Stock Quote

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Updating Canadian Midstream Fair Value Estimates Due to Refreshed Exchange Rates

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

After refreshing our USD/CAD exchange rates given the recent volatility, our Canadian midstream valuations have declined in U.S. dollar terms while our Canadian dollar fair value estimates remain unchanged. Our new fair value estimate for Pembina stands at $27, down from $29 per share. Our TC Energy fair value estimate declines to $50 from $53 per share. Finally, our Enbridge fair value estimate decreases to $39 from $41 per share. 

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Key Statistics ENB

Company Profile ENB

Business Description

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

425 - 1st Street S.W., Suite 200, Fifth Avenue Place
Calgary, AB, T2P 3L8, Canada
T +1 403 231-3900
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 10,900

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