"Enbridge Inc. (NYSE: ENB), already Canada's largest shippers of crude oil, is positioning itself to be the dominant distributor of Alberta's oil sands output," notes Tom Slee in Gordon's Pape's The Income Investor.
"The company is in excellent shape. Operating profit in the second quarter rose to $129.5 million, equal to 36 cents a share, up from $118.7 million the year before.
"All of the company's numerous, well-funded projects are on track and should start contributing to profits in 2009. There were no surprises or fireworks in the financial statements, just solid growth, exactly what we need in these volatile markets.
"It has a short- and a long-term program that involves $8 billion worth of projects at an advanced stage and a further $10 billion worth of undertakings on the drawing boards.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
