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enbridge layoffs reddit

I'm fine to sit tight, drip the dividend and wait five years, ten years or whatever. Maybe the debt is catching up to them, just like us Canadians and our debts. The company has a wide economic moat, highly secured cashflows and significant organic growth potential. AFFO and adjusted EBITDA are both growing at reasonable rates, both from integration of acquisitions and organic growth. Economists say he inherited it. That is all. Spectra was created 10 years ago as a standalone pipeline company after being spun off from Charlotte, N.C.-based Duke Energy, which operates utilities and merchant power companies. There is a credible management path towards this goal from sale of non-core assets, organic growth, and modest dilution. Because oil and gas are fungible, midstream firms can optimize the flow of hydrocarbons across their systems to meet producer or end-user demand while locking in geographic price differentials, or use storage facilities tied to the network to lock in price differentials across time periods. To really understand what FCF is (Cash from Ops minus maintenance capex) and if it can in fact cover the dividend, investors need to know what the real maintenance capex is. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. That's bad news for Houston. Earnings is not a useful measure for midstream companies. Are you just trying to drive traffic to that really shitty site. October 13, 2020 Enbridge Inc. to Host Webcast to Discuss 2020 Third Quarter Results on November 6. Outside of the non-core divestment and massive tax write-off in 2017, Enbridge operated at a -$985m loss due to their high debt load (attributable to earnings and not FCF), Enbridge is currently sitting at a 2.5x interest coverage ratio (and $65b total debt) - making the dividend ultra risky, Enbridge has committed to a 10-12% dividend increase through 2022. Canadian pipeline operator Enbridge is enacting voluntary early retirements and pay cuts as part of the company's plans to cut $300 million from its budget. Now, do I think their commitment of 10-12% dividend increase is difficult? Please try again, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. I agree, ENB has still strong growth potential. A lot of points and I'll try and comment on a few. The company’s net earnings for the three months ended June 30 were $189 million, compared with $620 million the year prior. Noting on your 10th and 11th points, you're absolutely right. The next step is running crude from North Dakota to Texas. Discussion would be geared around any investment opportunities a Canadian has access to. Enbridge even has three Texas wind farms now. That being said, this is the exact conversations I like to see in this subreddit. don't provide me with the information I am looking for on a website about Layoffs. A spokesperson for Enbridge said the layoffs were instead part of a review earlier this year aimed at allowing the company to “achieve our strategy of growth and diversification.” If ENB can keep their cost discipline, I feel that this situation can be handled. The company would not disclose how many of the layoffs would come in Houston, but a few hundred are expected to lose jobs here. Enbridge’s efficient scale is likely their best advantage compared to peers: Pipelines are characterized by relatively high barriers to entry, high capital costs, and significant regulatory oversight. Enbridge gained a 90,000-mile network of gas and natural gas liquid pipelines from Spectra, enhancing its access to U.S. natural gas markets. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Regulated tolls include the recovery of the pipeline’s investment, a rate of return on the investment, and pipeline operating costs. Funds from Operation were around $3.735B while about $1.554B was attributed (~40%) to the divestment. I don't want to draw any comparisons, but for a long time history showed GE was a great long term holding. I don't own Enbridge or really like it a ton, but as a blue chip there is no reason to hate it. The other 160 are U.S. positions, the company said. Stop suggesting Enbridge! Nothing else. The cuts represent a 6 percent workforce reduction across the U.S. and Canada. The purchase put Enbridge firmly in place as North America’s largest energy infrastructure firm, with a broad portfolio of assets including oil and gas pipelines, storage facilities and power generation plants. I just wish there was some moderation, looking at the last 25 posts has told me nothing about anything: Posts like "Fun fact: did you know humans kill 100 million sharks a year" and "Oranges- Peel or unpeeled? I still might if it got down to $36 or something. Read more about cookies here. Enbridge to cut 1,000 jobs in Houston, Canada, Workers swap out the Enbridge and Spectra Energy signs earlier this year at Spectra's former Galleria-area headquarters. Wednesday’s cut is similar to an announcement the company made one year ago, when it also removed 500 positions from its workforce. Anymore bright ideas?!" If these happen, Enbridge should do fairly well. Just trying to facilitate discussion, no need to attack. The company slashed a total of 530 positions from its workforce, 370 of which are from its Canadian division. High Payout ratio - Enbridge in its most current year is paying out 46.7% of FCF. If you don't see it please check your junk folder. Please keep that in mind when you take advice from there. Regulatory approvals are granted only when an economic need for pipelines exist. … Enbridge Inc cuts 530 jobs, 5 per cent of work force in Canada, U.S. tap here to see other videos from our team. In short, stop buying Enbridge! Cookies help us deliver our Services. Just curious. This creates excellent opportunity to purchase quality firms at discount valuations. 2) pay the current dividend. Everyday this subreddit asks about terrible small-caps with little to no proven revenue/business model (Jet.V or NMX) or high dividend stocks that have been beat up over the year. See the latest updates, context, and perspectives about this story. Press question mark to learn the rest of the keyboard shortcuts. "They mirror the breadth and severity of the crisis that we and other companies face, and will ensure the continued strength of Enbridge over the long term. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The regulatory oversight provides stability in returns that typically exceed the company’s cost of capital. Enbridge already funnels crude from the Canadian oil sands to the Houston area, thanks to its Seaway pipeline system that's jointly owned with Enterprise Products Partners.

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