Best Idea Enbridge Accelerates Asset Sales; Still Deeply Undervalued
Wide-moat Enbridge has entered into an agreement to sell all of its western Canadian natural gas processing plants and liquids handling facilities for CAD 4.3 billion. The gathering and processing businesses includes 19 natural gas plants and handling facilities with an operating capacity of 3.3 billion cubic feet per day of natural gas. The first deal, which includes CAD 2.5 billion of assets, is expected to close during the fourth quarter, while the remaining CAD 1.8 billion in assets is expec...Enbridge is an energy transportation and distribution companyoperating in 5 segments: Liquids Pipelines, consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals; Gas Distribution, of Co.'s natural gas utility operations; Gas Pipelines and Processi consists of investments in natural gas pipelines and processing facilities; Green Power and Transmission, consists of Co.'s investments in renewable energy assets and transmission facilities; and Energy Services, consist of physical commodity marketing activity and logistical services.
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