Q: What is the estimate for this quarter on enbridge? Your thoughts on the next 1 to 2 years for cve? cheers
Further to my question on enb re quarterly earnings on the 9th. The stock is down the last week and traded over 15 million shares today. Would this possibly be an indication of a not so good earnings? cheers
Further to my question on enb re quarterly earnings on the 9th. The stock is down the last week and traded over 15 million shares today. Would this possibly be an indication of a not so good earnings? cheers
5i Research Answer:
ENB is expected to show 67c EPS and $12.50B revenue. ENB is $98B company with large insitutional interest. It trades more than 10M shares about four or five times per month, much more if we include US trading, and we would not assume anything from this week's trading. CVE has been weak with the sector, but is very cheap at 9X earnings. Debt is declining, and it is still expected to show decent growth over the next two years. It needs the sector to co-operate, but we would be quite comfortable holding it for sector exposure for income and some growth potential.