Best Idea Enbridge: Line 3 Is Likely Delayed Again, but Our Long-Term Thesis Remains Intact
On Monday, June 3, the Minnesota Court of Appeals reversed the state Public Utilities Commission's (PUC) approval of Enbridge’s Line 3 environmental review. The court’s ruling was based on the review not addressing the potential impact of an oil spill into the Lake Superior watershed. The court’s decision now sends the environmental impact statement back to the PUC, but most importantly, it calls into question the PUC’s previous approval of the pipeline’s certificate of need and route pipeline, ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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