Investment Thesis
Enbridge Inc. (ENB) is a leading operator of critical infrastructure supplying the vital energy needs of the North American economy. The liquids and natural gas pipelines, storage and transmission network owned by Enbridge comprise a set of irreplaceable, non-substitutable assets that generate cash flow on a long-term contracted basis. Enbridge is frequently in the news for project delays and regulatory challenges related to challenges arising from the company’s growth plans. These delays are largely transitory issues that do not materially affect the long-term viability of Enbridge’s core business operations.
While the