TSX:ENBOil and Gas
Enbridge (TSX:ENB) Could Be 17% Undervalued As Tallgrass Deal Tests Sentiment
Enbridge (TSX:ENB) has moved back into the spotlight after agreeing to acquire the crude oil operations of Tallgrass Energy and filing a follow-on equity offering of about CA$2.6b to help fund the deal.
Enbridge shares have slipped in the short term, with the 30 day share price return down 6.2% and the 90 day share price return down 15%, even as the 1 year total shareholder return sits at 3.4% and the 5 year total shareholder return is 82.59%. This points to long term momentum but fading...