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Here's Why Enbridge (ENB) is an Attractive Investment Bet Now
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Enbridge Inc. (ENB - Free Report) has witnessed upward earnings estimate revisions for 2021 and 2022 in the past 30 days. Also, this midstream energy company is likely to see earnings growth of 20.4% and 16.3%, respectively, in 2021 and 2022.
Factors Favoring the Stock
The company, currently carrying a Zacks Rank #2 (Buy), has an extensive network of pipeline assets that are responsible for transporting roughly 25% of North American crude oil production. The midstream properties are also responsible for carrying as much as 20% of natural gas that are consumed by Americans. In Ontario and Quebec, the company is dedicatedly serving 3.8 million retail customers through its Gas Distribution and Storage operations.
With significant portion of its assets being contracted by shippers for long term, the company’s business model is less exposed to volatility in oil and gas prices owing to the coronavirus pandemic. Underpinned by long-term contracts, Enbridge’s business model also has considerably lower volume risk exposure.
The company has estimated roughly C$10-billion growth capital projects to be placed into service in 2021. Moreover, from 2021 to 2023, the midstream player expects C$17 billion in growth capital projects to be executed. Notably, the company expects significant growth in visible cashflow through 2023 from these secured midstream developments.
Other prospective players in the energy space include Whiting Petroleum Corporation , Extraction Oil & Gas, Inc. and Oasis Petroleum Inc. . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Extraction is expected to witness earnings growth of 450.8% in 2021.
Oasis Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
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Here's Why Enbridge (ENB) is an Attractive Investment Bet Now
Enbridge Inc. (ENB - Free Report) has witnessed upward earnings estimate revisions for 2021 and 2022 in the past 30 days. Also, this midstream energy company is likely to see earnings growth of 20.4% and 16.3%, respectively, in 2021 and 2022.
Factors Favoring the Stock
The company, currently carrying a Zacks Rank #2 (Buy), has an extensive network of pipeline assets that are responsible for transporting roughly 25% of North American crude oil production. The midstream properties are also responsible for carrying as much as 20% of natural gas that are consumed by Americans. In Ontario and Quebec, the company is dedicatedly serving 3.8 million retail customers through its Gas Distribution and Storage operations.
With significant portion of its assets being contracted by shippers for long term, the company’s business model is less exposed to volatility in oil and gas prices owing to the coronavirus pandemic. Underpinned by long-term contracts, Enbridge’s business model also has considerably lower volume risk exposure.
The company has estimated roughly C$10-billion growth capital projects to be placed into service in 2021. Moreover, from 2021 to 2023, the midstream player expects C$17 billion in growth capital projects to be executed. Notably, the company expects significant growth in visible cashflow through 2023 from these secured midstream developments.
Enbridge Inc Price
Enbridge Inc price | Enbridge Inc Quote
Other Stocks to Consider
Other prospective players in the energy space include Whiting Petroleum Corporation , Extraction Oil & Gas, Inc. and Oasis Petroleum Inc. . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Extraction is expected to witness earnings growth of 450.8% in 2021.
Oasis Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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