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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Enbridge Inc    ENB   CA29250N1050

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Enbridge : National Energy Board to Hold Public Hearing to Consider Enbridge's Line 21 Segment Replacement Project

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05/20/2017 | 03:07pm CEST

CALGARY, Alberta, May 19 - The National Energy Board, an arm of the Canadian government, issued the following news release:

The National Energy Board (NEB) announced today that it will hold a public hearing to review an application from Enbridge to replace a section of its Line 21 pipeline in the Northwest Territories. The hearing will begin the week of August 8 at the Fort Simpson Recreation Centre.

The hearing will include a written process with an oral portion including cross-examination and argument. The NEB will also hear oral traditional evidence from Indigenous participants. The hearing will be broadcast in English and Dene Zhatie.

To help participants understand how the NEB will review this application, NEB staff will hold an information session on June 6 at the Fort Simpson Recreation Centre starting at 7 pm.

The NEB has accepted all requests for participation. Five groups have been granted Intervenor status and six groups have been granted Commenter status.

On March 10, Enbridge applied to the NEB to replace a 2.5-kilometre-long section of its Line 21 pipeline, also known as the Norman Wells Pipeline. The new pipe would be installed under the Mackenzie River using a trenchless crossing method called horizontal directional drilling. Enbridge is also requesting permission to leave the section of pipeline that is being replaced under the Mackenzie River (decommission).

The National Energy Board is an independent federal regulator of several parts of Canada's energy industry. It regulates pipelines, energy development and trade in the public interest with safety as its primary concern. For more information on the NEB and its mandate, please visit www.neb-one.gc.ca.

Quick Facts

* The NEB's Participant Funding Program is providing up to $100,000 in funding to support meaningful participation by intervenors in the hearing process.

* The Mackenzie Valley Land and Water Board is also considering the potential environmental and socio-economic effects of the Project under the Mackenzie Valley Resource Management Act.

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Financials ( CAD)
Sales 2017 43 896 M
EBIT 2017 7 582 M
Net income 2017 3 067 M
Debt 2017 68 691 M
Yield 2017 4,33%
P/E ratio 2017 23,61
P/E ratio 2018 19,57
EV / Sales 2017 3,57x
EV / Sales 2018 3,26x
Capitalization 87 832 M
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Average target price 63,5  CAD
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Albert Monaco President & Chief Executive Officer
Gregory L. Ebel Chairman
Leon Anthony Zupan Chief Operating Officer-Liquids Pipelines
John K. Whelen Chief Financial Officer & Executive Vice President
C. L Dyer Chief Information Officer & Vice President
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ENBRIDGE INC-5.93%65 009
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