This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Enbridge Inc www.enbridge.com ENB-T CDN$ Fiscal Yr: Dec 31 ENB -N
Year 12/31/99 12/31/00 12/31/01 12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/30/12 #Y
Accting Rules C GAAP
Revenue* $2,694 $2,571 $4,081 $4,548 $4,855 $6,541 $8,453 $10,645 $11,919 $16,131 $12,466 $15,127 488.46% <-Total Growth 10 Revenue
Increase 15.04% -4.58% 58.75% 11.43% 6.77% 34.71% 29.24% 25.92% 11.98% 35.34% -22.72% 21.35% 19.39% <-IRR #YR-> 10 Revenue
Rev per Share $4.31 $4.11 $6.31 $6.98 $7.09 $9.46 $12.11 $15.13 $16.17 $21.62 $16.49 $19.65 12.34% <-IRR #YR-> 5 Revenue
P/S (Price/Sales) 1.66 2.66 1.70 1.53 1.90 1.58 1.50 1.33 1.24 0.91 1.47 1.43 16.93% <-IRR #YR-> 10 Rev per share
*Revenue in M CDN $  P/S 10 yr  1.49 5 yr  1.33 10.15% <-IRR #YR-> 5 Rev per share
-$2,571 $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,127
-$8,453 $0 $0 $0 $0 $15,127
-$4.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.65
-$12.11 $0.00 $0.00 $0.00 $0.00 $19.65
EPS* $0.48 $0.63 $0.72 $0.89 $1.01 $0.97 $0.82 $0.90 $0.98 $1.82 $2.13 $1.29 $1.43 $1.56 U 103.16% <-Total Growth 10 Earnings
Increase 15.06% 32.46% 13.83% 23.61% 13.20% -4.22% -15.54% 9.82% 8.94% 86.67% 16.76% -39.53% 11.28% 8.74% 7.35% <-IRR #YR-> 10 Earnings
Earnings Yield 6.7% 5.8% 6.7% 8.3% 7.5% 6.5% 4.5% 4.4% 4.9% 9.2% 8.7% 4.6% 9.53% <-IRR #YR-> 5 Earnings
* ESP per share (Cdn GAAP) E/P 10 Yrs 6.58% 5Yrs 4.87%
-$0.63 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.29
-$0.82 $0.00 $0.00 $0.00 $0.00 $1.29
Pre-split'11 $1.02 $1.08 $1.23 $1.34 $1.50 $1.47 $1.59 $1.74 $1.79 $1.88 $2.35 $2.66
Adjusted EPS* $0.51 $0.54 $0.62 $0.67 $0.75 $0.74 $0.80 $0.87 $0.90 $0.94 $1.18 $1.33 $1.46 $1.57 146.30% <-Total Growth 10 Earnings
Diff EPS/Adj -6.81% 14.62% 14.58% 24.72% 25.56% 23.83% 2.45% 2.79% 8.21% 48.35% 44.71% -3.50% -2.10% -0.96% 19.21% <-Median-> 10 Adj lower by?
Increase 12.09% 5.88% 13.89% 8.94% 11.94% -2.00% 8.16% 9.43% 2.87% 5.03% 25.00% 13.19% 9.77% 7.53% 9.43% <-IRR #YR-> 10 Earnings
Graham Price $6.11 $6.68 $7.41 $8.57 $9.93 $9.60 $10.31 $11.17 $11.86 $13.57 $15.80 $17.00 $17.82 $18.47 10.84% <-IRR #YR-> 5 Graham Price
Prem /Disc. Close 17.21% 63.48% 45.03% 24.58% 35.41% 55.50% 76.28% 80.24% 68.64% 45.78% 53.92% 65.46% 74.23% 68.01% 54.71% <-Median-> 10 Graham Price
P/E Ratio Cl 14.04 20.23 17.47 15.93 17.93 20.31 22.86 23.14 22.35 21.04 20.69 21.15 21.26 19.77 20.87 <-Median-> 10 P/E Ratio
P/E Ratio High 17.40 20.23 18.26 18.38 17.93 20.31 24.42 23.70 22.88 24.49 20.69 21.74 21.22 <-Median-> 10 P/E Ratio
P/E Ratio Low 14.04 12.27 14.57 15.63 13.79 16.07 18.47 18.36 19.32 18.29 15.32 17.44 16.76 <-Median-> 10 P/E Ratio
Div Payout Ratio 58.6% 58.8% 56.9% 56.7% 55.3% 62.2% 65.3% 66.1% 68.7% 70.2% 63.0% 63.9% 67.1% 62.4% 63.44% <-Median-> 10 Payout Ratio
* Adjusted Earnings or ESP (see notes below)  5 year P/E: Low/High/Close 18.29 22.88 21.15
-$0.54 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.33
-$0.80 $0.00 $0.00 $0.00 $0.00 $1.33
Pre-split '99
Pre-split'05 $1.20 $1.27 $1.40 $1.52 $1.66 $1.83
Pre-split'11 $0.60 $0.64 $0.70 $0.76 $0.83 $0.92 $1.04 $1.15 $1.23 $1.32 $1.48 $1.70
Div* $0.30 $0.32 $0.35 $0.38 $0.42 $0.46 $0.52 $0.58 $0.62 $0.66 $0.74 $0.85 $0.98 $0.98 167.72% <-Total Growth 10 Dividends
Increase 6.70% 6.28% 10.24% 8.57% 9.21% 10.24% 13.39% 10.84% 6.96% 7.32% 12.12% 14.86% 15.29% 0.00% 10.38% <-Average 10 Dividends
Aver H/L $8.02 $8.78 $10.10 $11.39 $11.89 $13.37 $17.05 $18.30 $18.89 $20.11 $21.16 $26.05
Yield H/L 3.73% 3.62% 3.47% 3.34% 3.49% 3.42% 3.04% 3.14% 3.26% 3.28% 3.50% 3.26% 3.31% <-Median-> 10 Dividends
Yield on Cl 4.17% 2.91% 3.26% 3.56% 3.09% 3.07% 2.85% 2.86% 3.07% 3.34% 3.04% 3.02% 3.16% 3.16% 3.07% <-Median-> 10 Dividends
Payout Ratio 62.6% 50.2% 48.6% 42.7% 41.2% 47.4% 63.7% 64.2% 63.1% 36.3% 34.8% 66.1% 68.5% 63.0% 48.01% <-Median-> 10 Dividends
Payout Ratio CF 37.7% 75.3% 54.6% 27.2% 77.1% 35.7% 40.1% 31.2% 32.9% 35.5% 27.7% 35.4% 35.9% 32.0% 10.35% <-IRR #YR-> 10 Dividends
Average 5 Yrs Div Yd 5.08% in 5 yrs 8.19% in 10 yrs Yield  3.26% 3.04% Payout 63.08% 32.88% 10.38% <-IRR #YR-> 5 Dividends
* Dividends per share  10.0% 5 10.0% 10
-$0.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.85
-$0.52 $0.00 $0.00 $0.00 $0.00 $0.85
I am earning # yrs are-> 7 Trading $39.00 2005 2.51%
Yield if held 5 yrs 8.49% 7.68% 5.84% 5.17% 5.71% 5.91% 5.70% 5.40% 5.55% 5.54% 4.99% 5.36% 5.19% Ave H/L Yield on your  Dividends
Yield if held 10 yrs 13.87% 12.62% 9.45% 8.22% 9.23% 9.69% 9.71% 8.60% Ave H/L original money Dividends
Yield if held 15 yrs 22.72% 21.51% 15.06%
Graham Price $5.91 $7.23 $8.02 $9.88 $11.51 $11.00 $10.44 $11.33 $12.38 $18.88 $21.24 $16.71 $17.63 $18.39 Cl Pr higher/lower by? Graham Price
Prem /Disc. High 50.10% 51.05% 40.09% 24.67% 16.83% 35.71% 85.98% 81.99% 65.41% 21.95% 14.46% 72.97% 37.90% <-Median-> 10 Graham Price
Prem /Disc. Low 21.14% -8.40% 11.80% 6.07% -10.15% 7.41% 40.66% 40.99% 39.64% -8.93% -15.27% 38.77% 9.60% <-Median-> 10 Graham Price
Prem /Disc. Close 21.14% 51.05% 34.04% 8.09% 16.83% 35.71% 74.10% 77.71% 61.57% 4.77% 14.46% 68.33% 76.04% 68.82% 34.87% <-Median-> 10 Graham Price
Pre-split'05 $28.65 $43.70 $42.98 $42.70 $53.78 $59.70
Pre-split'11 $14.33 $21.85 $21.49 $21.35 $26.89 $29.85 $36.34 $40.27 $40.01 $39.56 $48.63 $56.27
Price Cl $7.16 $10.93 $10.75 $10.68 $13.45 $14.93 $18.17 $20.14 $20.01 $19.78 $24.32 $28.14 $31.04 $31.04 157.53% <-Total Growth 10 Stock Price
Increase -16.96% 52.53% -1.65% -0.65% 25.95% 11.01% 21.74% 10.81% -0.65% -1.12% 22.93% 15.71% 10.33% 0.00% 9.92% <-IRR #YR-> 10 Stock Price
P/E 15.00 17.27 14.92 11.99 13.34 15.47 22.29 22.50 20.52 10.87 11.44 21.89 21.71 19.96 9.14% <-IRR #YR-> 5 Stock Price
Trailing P/E 17.26 22.88 16.99 14.83 15.11 14.81 18.83 24.71 22.35 20.29 13.36 13.24 24.16 21.71 12.57% <-IRR #YR-> 10 Price & Div
Median 5 Yrs 2.59% 2.65% Div %  5, 10 yrs Price Inc 10.81% P/E: Y-T 20.52 20.29 11.73% <-IRR #YR-> 5 Price & Div
-$10.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $28.14
-$18.17 $0.00 $0.00 $0.00 $0.00 $28.14
-$10.93 $0.30 $0.32 $0.35 $0.38 $0.42 $0.46 $0.52 $0.58 $0.62 $28.80
-$18.17 $0.46 $0.52 $0.58 $0.62 $28.80
Price H/L Ave $8.02 $8.78 $10.10 $11.39 $11.89 $13.37 $17.05 $18.30 $18.89 $20.11 $21.16 $26.05 196.89% <-Total Growth 10 Stock Price
Increase -0.16% 9.43% 15.06% 12.85% 4.38% 12.41% 27.50% 7.35% 3.21% 6.49% 5.21% 23.14% 11.50% <-IRR #YR-> 10 Stock Price
P/E 16.79 13.87 14.02 12.80 11.80 13.85 20.91 20.44 19.37 11.05 9.96 20.27 8.86% <-IRR #YR-> 5 Stock Price
Trailing P/E 19.32 18.38 15.96 15.82 13.36 13.27 17.66 22.45 21.10 20.63 11.63 12.26 14.60% <-IRR #YR-> 10 Price & Div
Median 5 Yrs 2.78% 3.11% Div %  5, 10 yrs Price Inc 6.49% P/E: Y-T 19.37 20.63 11.63% <-IRR #YR-> 5 Price & Div
-$8.78 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.05
-$17.05 $0.00 $0.00 $0.00 $0.00 $26.05
-$8.78 $0.30 $0.32 $0.35 $0.38 $0.42 $0.46 $0.52 $0.58 $0.62 $26.71
-$17.05 $0.46 $0.52 $0.58 $0.62 $26.71
Feb-Jun Dec Nov Jul Dec Dec Nov Dec Nov Jun Dec Dec
Pre-split'05 $35.50 $43.70 $44.92 $49.25 $53.78 $59.70
Pre-split'11 $17.75 $21.85 $22.46 $24.63 $26.89 $29.85 $38.82 $41.24 $40.96 $46.05 $48.63 $57.82
Price Hi $8.88 $10.93 $11.23 $12.31 $13.45 $14.93 $19.41 $20.62 $20.48 $23.03 $24.32 $28.91 164.62% <-Total Growth 10 Stock Price
Increase 2.90% 23.10% 2.79% 9.64% 9.20% 11.01% 30.05% 6.23% -0.68% 12.43% 5.60% 18.90% 10.22% <-IRR #YR-> 10 Stock Price
P/E 18.59 17.27 15.60 13.83 13.34 15.47 23.82 23.04 21.01 12.65 11.44 22.50 8.29% <-IRR #YR-> 5 Stock Price
Trailing P/E 21.39 22.88 17.75 17.10 15.11 14.81 20.11 25.30 22.88 23.62 13.36 13.60
Median 5 Yrs Price Inc 6.23% P/E: Y-T 21.01 22.88
-$10.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $28.91
-$19.41 $0.00 $0.00 $0.00 $0.00 $28.91
Dec Jan-Mar Jan Jan Feb May-Aug Jan May Aug Oct Mar May
Pre-split'05 $28.65 $26.50 $35.85 $41.90 $41.36 $47.25
Pre-split'11 $14.33 $13.25 $17.93 $20.95 $20.68 $23.63 $29.36 $31.95 $34.58 $34.39 $36.00 $46.39
Price Low $7.16 $6.63 $8.96 $10.48 $10.34 $11.81 $14.68 $15.98 $17.29 $17.20 $18.00 $23.20 250.11% <-Total Growth 10 Stock Price
Increase -3.70% -7.50% 35.28% 16.88% -1.29% 14.24% 24.28% 8.82% 8.23% -0.55% 4.68% 28.86% 13.35% <-IRR #YR-> 10 Stock Price
P/E 15.00 10.47 12.45 11.77 10.26 12.24 18.01 17.85 17.73 9.45 8.47 18.05 9.58% <-IRR #YR-> 5 Stock Price
Trailing P/E 17.26 13.87 14.17 14.55 11.62 11.72 15.21 19.60 19.32 17.64 9.89 10.92
Median 5 Yrs Price Inc 8.23% P/E: Y-T 17.73 17.64
-$6.63 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $23.20
-$14.68 $0.00 $0.00 $0.00 $0.00 $23.20
Market Cap $4,478 $6,830 $6,954 $6,956 $9,207 $10,323 $12,679 $14,167 $14,744 $14,756 $18,382 $21,664 $23,901 $23,901 $49.0 0.21% Insider Selling
# of Sh in M 625.2 625.2 647.2 651.6 684.8 691.7 697.8 703.6 737.0 746.0 756.0 770.0 770.0 770.0 Share Capital Shares
Increase 0.38% -0.01% 3.52% 0.68% 5.10% 1.01% 0.88% 0.83% 4.75% 1.22% 1.34% 1.85% 0.00% 0.00% 1.28% <-Median-> 10 Shares
CF fr Op $M $495.1 $263.5 $414.5 $910.6 $368.5 $886.7 $903.5 $1,298 $1,379 $1,388 $2,017 $1,851 $2,102 $2,356 602.47% <-Total Growth 10 Cash Flow
OPS $0.79 $0.42 $0.64 $1.40 $0.54 $1.28 $1.29 $1.84 $1.87 $1.86 $2.67 $2.40 $2.73 $3.06 I 470.37% <-Total Growth 10 Cash Flow
Increase 57.88% -46.78% 51.96% 118.20% -61.49% 138.23% 1.00% 42.45% 1.43% -0.56% 43.43% -9.90% 13.57% 12.09% 32.47% <-Average 10 Cash Flow
Non-Cash CF $131.8 $515.4 -$1.9 -$151.6 $569.8 $141.1 $397.4 -$126.7 -$20.7 $10.3 -$243.0 $263.0 19.02% <-IRR #YR-> 10 Cash Flow
OPS non-cash $1.00 $1.25 $0.64 $1.16 $1.37 $1.49 $1.86 $1.66 $1.84 $1.87 $2.35 $2.75 $2.73 $3.06 13.17% <-IRR #YR-> 5 Cash Flow
P/O on Cl 7.14 8.77 16.85 9.16 9.81 10.04 9.75 12.10 10.86 10.55 10.36 10.25 11.37 10.14 8.22% <-IRR #YR-> 10 Cash Flow
*Operational Cash Flow per share P/CF 10 yr 10.30 5 yr  10.55 8.05% <-IRR #YR-> 5 Cash Flow
-$1.29 $0.00 $0.00 $0.00 $0.00 $2.40
-$1.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.75
-$1.86 $0.00 $0.00 $0.00 $0.00 $2.75
OPM 18.4% 10.3% 10.2% 20.0% 7.6% 13.6% 10.7% 12.2% 11.6% 8.6% 16.2% 12.2% should be zero, it is a check on calculations
Diff from Ave 54.7% -13.7% -14.5% 68.6% -36.1% 14.1% -10.0% 2.6% -2.6% -27.6% 36.2% 3.0% 0.00% 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 11.88% 5 Yrs 12.19%
Curr Assets $1,107.2 $1,334.4 $2,281.7 $1,442.0 $2,052.7 $2,349.0 $3,075.6 $3,054.2 $3,264.8 $3,709 $3,595 $3,761 Liq ratio of 1.5 and up, best Assets
Curr Liab. $910.5 $1,280.3 $3,200.3 $1,716.5 $2,349.8 $2,744.4 $3,250.7 $3,223.9 $3,514.8 $4,017 $3,789 $3,355 0.93 <-Median-> 10 Liabilities
Liquidity 1.22 1.04 0.71 0.84 0.87 0.86 0.95 0.95 0.93 0.92 0.95 1.12 0.95 <-Median-> 5 Ratio
Liquidity + CF 1.55 1.09 0.77 1.23 0.91 1.06 1.11 1.22 1.19 1.15 1.33 1.48 1.17 <-Median-> 10 Ratio
Assets $9,208 $10,609 $13,128 $12,987 $13,823 $14,905 $17,211 $18,379 $19,907 $24,701 $28,169 $30,120 A/L ratio of 1.5 and up, best Assets
Liab. $6,608 $7,720 $9,965 $8,594 $9,174 $10,412 $12,250 $13,054 $13,982 $17,286 $20,181 $21,897 1.42 <-Median-> 10 Liabilities
Asset/Liablity 1.39 1.37 1.32 1.51 1.51 1.43 1.40 1.41 1.42 1.43 1.40 1.38 1.41 <-Median-> 5 Ratio
Non-Control. Int $100 $126 $131 $561 $523 $515 $691 $715 $651 $797 $727 $658
Preferred Shares $466 $465 $465 $659 $125 $125 $125 $125 $125 $125 $125 $125
Book Value $2,035 $2,298 $2,567 $3,174 $4,001 $3,853 $4,145 $4,486 $5,150 $6,494 $7,136 $7,440 $7,440 $7,440 223.76% <-Total Growth 10 Book Value
BV per share $3.25 $3.68 $3.97 $4.87 $5.84 $5.57 $5.94 $6.38 $6.99 $8.70 $9.44 $9.66 $9.66 $9.66 162.88% <-Total Growth 10 Book Value
Change 4.66% 12.96% 7.93% 22.78% 19.96% -4.65% 6.63% 7.33% 9.61% 24.57% 8.44% 2.36% 0.00% 0.00% 1.1925 Current/Historical Book Value
P/BV (CL) 2.20 2.97 2.71 2.19 2.30 2.68 3.06 3.16 2.86 2.27 2.58 2.91 3.21 3.21 10.15% <-IRR #YR-> 10 Book Value
Change -20.66% 35.03% -8.87% -19.08% 5.00% 16.43% 14.18% 3.25% -9.36% -20.62% 13.36% 13.04% 10.33% 0.00% 10.22% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 4.53 4.62 5.11 4.09 3.45 3.87 4.15 4.10 3.87 3.80 3.95 4.05 4.00 <-Median-> 10 A/BV
Debt/Eq Ratio 3.25 3.36 3.88 2.71 2.29 2.70 2.96 2.91 2.71 2.66 2.83 2.94 2.77 <-Median-> 10 Debt/Eq Ratio
Median P/BV 10 yr Ave 2.69 5 yr Ave 2.86
-$3.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $9.66
-$5.94 $0.00 $0.00 $0.00 $0.00 $9.66
ROE 12.8% 14.7% 9.9% 25.3% 13.8% 8.5% 13.82% <-Median-> 5 Compreh. Inc
Comprehensive Inc $531 $658 $510 $1,646 $986 $631 Compreh. Inc
ROE 14.7% 17.1% 18.9% 11.6% 16.7% 16.7% 13.6% 13.7% 13.6% 20.3% 21.8% 12.9% ROE
5Yr Median 12.8% 12.9% 14.7% 14.7% 16.7% 16.7% 16.7% 13.7% 13.7% 13.7% 13.7% 13.7% Net Income/Shareholders' equity ROE
Earn. For CSH $299.80 $392.30 $485.50 $367.80 $667.20 $645.30 $562.90 $615.40 $700.20 $1,320.8 $1,555.0 $963.0 145.48% <-Total Growth 10 Net Income
Oper C. F. $495.1 $263.5 $414.5 $910.6 $368.5 $886.7 $903.5 $1,297.7 $1,378.7 $1,387.7 $2,017.0 $1,851.0 Cash Flow Statement
Invest. C. F -$1,205.7 -$949.8 -$1,627.7 -$251.7 $259.5 -$999.7 -$833.0 -$1,580 -$2,256 -$2,853 -$3,306 -$2,674 Cash Flow Statement
Total Accruals $1,010.4 $1,078.6 $1,698.7 -$291.1 $39.2 $758.3 $492.4 $897.7 $1,577.4 $2,786.0 $2,844.0 $1,786.0 Oper C. F. Covers Investing C.F. and dividends?
Total Assets $9,208.2 $10,609.4 $13,127.7 $12,987.4 $13,823 $14,905 $17,211 $18,379 $19,907 $24,701 $28,169 $30,120 Balance Sheet
Accruals Ratio 10.97% 10.17% 12.94% -2.24% 0.28% 5.09% 2.86% 4.88% 7.92% 11.28% 10.10% 5.93% Accruals Ratio
Neutral Neutral Neutral Neutral Neutral High
Fin. C. F -$22.1 $268.1 $904.2 $1,840.2 $1,109.0 $749.0
Total Accruals $515 $630 $673 $946 $1,735 $1,037
Accruals Ratio 2.99% 3.43% 3.38% 3.83% 6.16% 3.44% Accruals Ratio
Apr 10, 2011. Last estimates I got for 2010 and 2011 were $4.25 and $4.25 for earnings $2.61 and $2.85 for Adj EPS and $4.80 and $5.57 for cash flow.
Mar 2010.  In June 2, 2009 I picked up 2009 and 2010 earnings of $2.21 and $2.46 and cash flow of $4.48 and $4.75.  I made 14.5% per year return to end of 2009.
AP 2008.  April 2009.  In Nov 2008 I picked up an earnings estimate of 2.06 for Dec 2008 and $2.21 for 2009.  Earnings for 2008 came in at $3.67 and $3.64 diluted.  This higher than expected earnings for 2008 do not seem to have any effect on what is expected in 2009.
AP 2007. I have done ok on this stock.  Div increase nicely. It is on TD's Action Buy List
AP 2006.  TD has hold on this and competitors except TransCdn Pipelines, which they have an action buy on. IRR since purchase is 6%.  Lost 18% this year. Stock seems volitile.
Dividend is increasing nicely, but revenue is increasing much faster than EPS, which last 5 years is IRR of 4.5. 5 and 10 year stock price increase is good.  Hold for now. Mike says yield is low for current price.
AP 2005.  TD NewCrest has a hold rating on this stock.  I have only just bought it and have not earned anything on it yet.
Dividends have been paid on this stock since 1952.
IPL Energy Inc prior to 1999
How they make their money
Enbridge is focused on three core businesses of crude oil and liquids pipelines, natural gas pipelines, and natural gas distribution.
They operate in Canada and US.
Adjusted earnings/(loss) represent earnings or loss applicable to common shareholders adjusted for non-recurring or non-operating factors on both a consolidated and segmented basis. Management believes that 
the presentation of adjusted earnings/(loss) provides useful information to investors and shareholders as it provides increased transparency and predictive value. Management uses adjusted earnings/(loss) to set 
targets, assess performance of the Company and set the Company’s dividend payout target. This measure cannot be compared to what other companies use.
A lot of earnings quotes use "Adjusted Earnings" which is usually lower than EPS.  Values before 2005, from 2005 annual report.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
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