Oil prices today are rallying 7% to just below $26.
Enbridge stock is a special energy stock. It is a defensive stock within a highly volatile energy world. Enbridge stock is up 8.7% so far in May and 36% from March lows.
As it stands today, Enbridge is expecting distributable cash flow per share of $4.50 to $4.80 in 2020. So far, the first quarter came in above expectations. The company is off to a good start.
Reducing costs by $300 million in response to the oil crash and coronavirus crisis.
This will include salary reductions. Beyond this, the company has $14 billion in excess liquidity, and its ongoing projects remain self-funded.
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