Enbridge reopens Line 5 after August spill; launches open season for proposed Texas pipeline

Saudi Aramco suspended oil loadings at Yanbu, pushing Brent crude to $108. Asia's oil demand is high, with Shanghai futures at a record $138. Enbridge (ENB) acquired Tallgrass Energy's oil business for $2.55B. Petrobras (PBR) agreed to a 20-year LNG supply deal with Sempra Infrastructure. Saudi supply disruptions and geopolitical tensions are affecting global oil markets.

Enbridge has restarted Line 5 through a temporary bypass in Wisconsin, despite state regulators claiming the company lacked required approvals. The pipeline carries up to 23 million gallons of crude oil and natural gas liquids daily. The Wisconsin DNR has cited Enbridge for environmental violations and unauthorized construction, while Enbridge asserts it acted to ensure safety and energy supply. The spill, one of the largest in Wisconsin in 50 years, released over 1 million gallons of natural ga

CIBC resumed coverage of Enbridge (ENB) with an Outperformer rating and raised its price target to C$79 from C$78. The firm sees the Tallgrass crude acquisition as a strategic fit, expanding Enbridge's liquids pipelines franchise and Rockies footprint.

CIBC reinstated coverage of Enbridge Inc (ENB) with an Outperformer rating and a C$79 price target. ENB offers a 5.76% dividend yield but has a high payout ratio of 1.27. The stock is trading at a 23.8% discount to its GF Value™ of $63.71. ENB's GF Score™ is 66, indicating a balanced profile. Institutional interest is mixed, with 7 gurus holding shares, some trimming positions. The company's acquisition of Tallgrass crude assets is a key strategic development.

Enbridge completed a C$3.0 billion share sale, issuing 44.735 million shares. Proceeds will fund acquisitions, including Tallgrass Energy's crude-transportation business. Shares traded at C$67.24, up 0.3% from Monday's close. The issuance adds about 2.0% to the share count, requiring roughly C$264 million annual DCF to maintain per-share results. The dividend yield is about 5.8%.

National Bank Financial upgraded Enbridge (ENB) to 'outperform' citing its North American oil production growth and recent acquisitions. Analyst Patrick Kenny raised the target price to $82. TD Cowen upgraded TC Energy (TRP) to 'buy' seeing a 16% pullback as an attractive entry point. National Bank initiated coverage of MDA Space (MDA) with an 'outperform' rating, highlighting its space investment growth potential.