oil & gas assets
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Analyst Takes July 25, 2018

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Enbridge (ENB; $46.84-July 5; Hold; PT-$49)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…Roughly 60% of the proceeds are expected by year-end 2018 with ultimate closing anticipated in mid-2019. The price tag provides additional financial flexibility......
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