Enbridge has started building its C$4 billion Sunrise Expansion Program in British Columbia, a project aimed at boosting regional natural gas transportation capacity. The announcement follows a strong share price performance, with a year-to-date return of 20.03% and a one-year total shareholder return of 35.37%. Despite the stock trading at CA$79.29, a slight 0.3% discount to the average analyst target of CA$78.48, a discounted cash flow model suggests a much higher fair value of CA$230.98, implying the stock is deeply undervalued. Investors are advised to monitor regulatory decisions and rising project costs that could pressure earnings.
Enbridge IncEnbridge begins construction of C$4 billion Sunrise Expansion Program, a major capital project that expands natural gas capacity.