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What the Analysts are Saying About 'Canadian Capital' - July 19, 2018



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Enbridge (TSX: ENB; $46.10 – July 6; Hold; PT: $49.00) Enbridge announced the sale of 19 Western CAD natural gas processing and related gathering pipelines. The total package fetched $4.3bln implying a 12-13x EV/ EBITDA multiple on TPHe of $340 mln vs. expectations of 10-11x given <50% 2017 utilization. The company obtained healthy proceeds without selling the farm. Highly coveted long-haul regulated natural gas transmission assets were retained including Alliance and the Westcoast transmission system (T-North & T-South). Roughly 60% of......
 
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