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. Estimates Estimates Estimates
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Enbridge Inc. TSX ENB NYSE ENB www.enbridge.com Fiscal Yr: Dec 31
Year 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 Value Description #Y Item
Accounting Rules C GAAP C GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP Accounting Rules
Revenue* $8,453 $10,645 $11,919 $16,131 $12,466 $15,127 $19,402 $25,306 $32,918 $37,641 $33,794 $34,560 $43,674 $47,658 $56,891 224.67% <-Total Growth 10 Revenue
Increase 29.24% 25.92% 11.98% 35.34% -22.72% 21.35% 28.26% 30.43% 30.08% 14.35% -10.22% 2.27% 26.37% 9.12% 19.37% 12.50% <-IRR #YR-> 10 Revenue
5 year Running Average $5,695 $7,008 $8,483 $10,738 $11,923 $13,258 $15,009 $17,686 $21,044 $26,079 $29,812 $32,844 $36,517 $39,465 $43,315 12.24% <-IRR #YR-> 5 Revenue
Revenue per Share $12.11 $15.65 $16.77 $22.42 $16.49 $19.65 $24.84 $31.44 $39.61 $44.18 $38.93 $36.65 $46.31 $50.54 $60.33 16.70% <-IRR #YR-> 10 5 yr Running Average
Increase 28.11% 29.22% 7.16% 33.64% -26.44% 19.14% 26.45% 26.54% 26.01% 11.53% -11.88% -5.87% 26.37% 9.12% 19.37% 16.96% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $8.39 $10.26 $12.22 $15.28 $16.69 $18.20 $20.03 $22.97 $26.41 $31.94 $35.80 $38.16 $41.14 $43.32 $46.55 8.88% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 1.41 1.17 1.13 0.90 1.28 1.33 1.32 1.26 1.14 1.20 1.37 1.37 8.09% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 1.50 1.29 1.19 0.88 1.47 1.43 1.53 1.37 1.17 1.35 1.18 1.54 1.17 1.08 0.90 14.04% <-IRR #YR-> 10 5 yr Running Average
*Revenue in M CDN $  P/S 10 yr  1.36 5 yr  1.35 -13.69% Diff M/C 13.76% <-IRR #YR-> 5 5 yr Running Average
-$10,645 $0 $0 $0 $0 $0 $0 $0 $0 $0 $34,560
-$19,402 $0 $0 $0 $0 $34,560
-$7,008 $0 $0 $0 $0 $0 $0 $0 $0 $0 $32,844
-$15,009 $0 $0 $0 $0 $32,844
-$15.65 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.65
-$24.84 $0.00 $0.00 $0.00 $0.00 $36.65
-$10.26 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $38.16
-$20.03 $0.00 $0.00 $0.00 $0.00 $38.16
ACFFO \ $3,154 $3,713
ACFFO per Diluted Share $3.68 $4.04
AFFO* $2.59 $2.30 $2.01 $2.61 $3.68 $4.04 $4.09 $4.37 75.85% <-Total Growth 5 AFFO
Increase -11.20% -12.61% 29.85% 41.00% 9.91% 1.12% 6.85% 9.32% <-IRR #YR-> 5 AFFO #DIV/0!
AFFO Yield 6.80% 5.35% 4.33% 4.37% 8.00% 7.16% 7.52% 8.04% 9.32% <-IRR #YR-> 5 AFFO 56.16%
5 year Running Average $2.64 $2.93 $3.29 $3.76 11.03% <-IRR #YR-> 1 5 yr Running #DIV/0!
Payout Ratio AFFO 37.8% 49.1% 62.7% 53.6% 50.5% 52.4% 57.0% 53.4% 11.03% <-IRR #YR-> 1 5 yr Running #DIV/0!
5 year Running Average 50.3% 53.1% 54.6% 53.4% 51.66% <-Median-> 2 Payout 5 yr Running Average
Price/AFFO Median 12.62 17.20 22.52 20.29 14.53 12.40 13.73 0.00 14.53 <-Median-> 7 P/AFFO Med
Price/AFFO High 14.71 18.70 24.20 23.00 17.89 14.61 14.20 0.00 17.89 <-Median-> 7 P/AFFO High
Price/AFFO Low 10.53 15.70 20.83 17.57 11.17 10.19 13.25 0.00 13.25 <-Median-> 7 P/AFFO Low
Price/AFFO Close 14.71 18.70 23.09 22.89 12.50 13.97 13.30 12.44 14.71 <-Median-> 7 P/AFFO Close
Trailing P/FFO Close 16.61 20.18 29.72 17.62 15.35 13.44 13.30 17.62 <-Median-> 5 Trailing P/AFFO Close
Median Values DPR 10 Yrs 51.48% 5 Yrs   52.41% P/CF 5 Yrs   in order 17.20 18.70 15.70 18.70 -22.70% Diff M/C -8.49% Diff M/C 10 DPR 75% to 95% best
*Adjusted Funds from Operations
-$2.59 $0.00 $0.00 $0.00 $0.00 $4.04
-$2.59 $0.00 $0.00 $0.00 $0.00 $4.04
-$2.64 $2.93
-$2.64 $2.93
Graham Price $10.31 $11.36 $12.08 $13.82 $15.80 $17.00 $18.22 $17.54 $21.29 $24.87 $28.78 $31.52 Graham Price
Diff EPS/Adj 2.45% 2.79% 8.21% 48.35% 44.71% -3.50% -13.85% -107.69% -223.64% -36.50% 5600.00% -18.13% Diff EPS/Adj
Pre-split'11 $1.59 $1.74 $1.79 $1.88 $2.35 $2.66
Adjusted EPS* $0.80 $0.87 $0.90 $0.94 $1.18 $1.33 $1.48 $1.62 $1.78 $1.87 $2.20 $2.28 $2.50 $2.74 162.07% <-Total Growth 10 Adjusted EPS
Increase 8.16% 9.43% 2.87% 5.03% 25.00% 13.19% 11.28% 9.46% 9.88% 5.06% 17.65% 3.64% 9.65% 9.60% 10.11% <-IRR #YR-> 10 Adjusted EPS 162.07%
Adjusted EPS Yield 4.38% 4.32% 4.47% 4.75% 4.83% 4.73% 3.89% 3.77% 3.84% 3.13% 4.78% 4.04% 4.60% 5.04% 9.03% <-IRR #YR-> 5 Adjusted EPS 54.05%
5 year Running Average $0.71 $0.76 $0.81 $0.85 $0.94 $1.04 $1.16 $1.31 $1.48 $1.62 $1.79 $1.95 $2.13 $2.32 9.82% <-IRR #YR-> 10 5 yr Running Average 155.24%
Payout Ratio 65.25% 66.09% 68.72% 70.21% 62.98% 63.91% 66.22% 69.75% 70.79% 74.87% 84.55% 92.98% 93.28% 85.11% 10.87% <-IRR #YR-> 5 5 yr Running Average 67.53%
5 year Running Average 59.50% 61.42% 63.81% 66.74% 66.50% 66.03% 66.07% 66.62% 67.16% 69.55% 74.08% 79.69% 84.40% 86.66% 66.68% <-Median-> 10 Payout 5 yr Running Average
P/E Ratio Median 21.44 21.03 21.10 21.39 18.01 19.59 22.08 24.42 25.43 28.31 24.30 22.00 22.46 0.00 22.04 <-Median-> 10 Price/AEPS Median
P/E Ratio High 24.42 23.70 22.88 24.49 20.69 21.74 25.74 26.56 27.33 32.11 29.93 25.92 23.24 0.00 25.83 <-Median-> 10 Price/AEPS High
P/E Ratio Low 18.47 18.36 19.32 18.29 15.32 17.44 18.43 22.28 23.52 24.52 18.68 18.08 21.68 0.00 18.55 <-Median-> 10 Price/AEPS Low
P/E Ratio Close 22.86 23.14 22.35 21.04 20.69 21.15 25.74 26.56 26.07 31.95 20.91 24.78 21.75 19.85 23.57 <-Median-> 10 Price/AEPS Close
Trailing P/E Close 24.72 25.33 22.99 22.10 25.87 23.94 28.64 29.07 28.65 33.56 24.60 25.68 23.85 21.75 25.77 <-Median-> 10 Trailing P/AEPSClose
* Adjusted Earnings or ESP (see notes below)  DPR 10 Yrs 69.98% 5 Yrs   74.87% P/CF 5 Yrs   in order 24.42 27.33 22.28 26.07 -10.92% Diff M/C -20.41% Diff Med/Curr
-$0.87 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.28
-$1.48 $0.00 $0.00 $0.00 $0.00 $2.28
-$0.76 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.95
-$1.16 $0.00 $0.00 $0.00 $0.00 $1.95
EPS Basic $0.82 $0.90 $0.98 $1.84 $2.14 $1.30 $1.32 $0.79 $0.55 $1.39 -$0.04 $1.93 114.44% <-Total Growth 10 EPS Basic
EPS Diluted* $0.82 $0.90 $0.98 $1.82 $2.13 $1.29 $1.30 $0.78 $0.55 $1.37 -$0.04 $1.93 $2.37 $2.61 $2.92 115.64% <-Total Growth 10 EPS Diluted
Increase -14.88% 9.82% 8.94% 86.67% 16.76% -39.53% 1.17% -40.00% -29.49% 149.09% -102.92% 4925.00% 22.80% 10.13% 11.88% 7.99% <-IRR #YR-> 10 Earnings per Share 115.64%
Earnings Yield 4.5% 4.4% 4.9% 9.2% 8.7% 4.6% 3.4% 1.8% 1.2% 2.3% -0.1% 3.4% 4.4% 4.8% 5.4% 8.22% <-IRR #YR-> 5 Earnings per Share 48.46%
5 year Running Average $0.88 $0.91 $0.93 $1.09 $1.33 $1.42 $1.50 $1.46 $1.21 $1.06 $0.79 $0.92 $1.24 $1.65 $1.96 0.07% <-IRR #YR-> 10 5 yr Running Average 0.71%
10 year Running Average $0.67 $0.72 $0.78 $0.92 $1.08 $1.15 $1.21 $1.20 $1.15 $1.19 $1.11 $1.21 -9.37% <-IRR #YR-> 5 5 yr Running Average -38.84%
* Diluted ESP per share  E/P 10 Yrs 3.41% 5Yrs 1.81%
-$0.90 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.93
-$1.30 $0.00 $0.00 $0.00 $0.00 $1.93
-$0.91 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.92
-$1.50 $0.00 $0.00 $0.00 $0.00 $0.92
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-split '99
Pre-split'05
Pre-split'11 $1.04 $1.15 $1.23 $1.32 $1.48 $1.70
Dividend* $0.52 $0.58 $0.62 $0.66 $0.74 $0.85 $0.98 $1.13 $1.26 $1.40 $1.86 $2.12 $2.33 $2.33 $2.33 268.70% <-Total Growth 10 Dividends
Increase 13.39% 10.84% 6.96% 7.32% 12.12% 14.86% 15.29% 15.31% 11.50% 11.11% 32.86% 13.98% 10.00% 0.00% 0.00% Count 27 Years of data
Dividends 5 Yr Running $0.42 $0.47 $0.52 $0.57 $0.62 $0.69 $0.77 $0.87 $0.99 $1.12 $1.33 $1.55 $1.79 $2.01 $2.20 231.17% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 3.04% 3.14% 3.26% 3.28% 3.50% 3.26% 3.00% 2.86% 2.78% 2.64% 3.48% 4.23% 4.15% 3.26% <-Median-> 10 Yield H/L Price
Yield on High  Price 2.67% 2.79% 3.00% 2.87% 3.04% 2.94% 2.57% 2.63% 2.59% 2.33% 2.82% 3.59% 4.01% 2.85% <-Median-> 10 Yield on High  Price
Yield on Low Price 3.53% 3.60% 3.56% 3.84% 4.11% 3.66% 3.59% 3.13% 3.01% 3.05% 4.53% 5.14% 4.30% 3.63% <-Median-> 10 Yield on Low Price
Yield on Close Price 2.85% 2.86% 3.07% 3.34% 3.04% 3.02% 2.57% 2.63% 2.71% 2.34% 4.04% 3.75% 4.29% 4.29% 4.29% 3.03% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 63.65% 64.25% 63.08% 36.26% 34.82% 66.15% 75.38% 144.87% 229.09% 102.19% -4650.00% 109.84% 98.40% 89.35% 79.86% 70.77% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 48.40% 51.48% 55.60% 51.74% 46.89% 48.45% 51.23% 59.64% 82.12% 106.34% 167.42% 169.28% 145.18% 121.89% 112.11% 57.62% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 40.06% 30.13% 31.70% 34.22% 27.74% 35.36% 28.32% 31.65% 31.34% 46.83% 35.32% 38.36% 46.73% 42.87% 38.67% 32.96% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 41.17% 36.54% 37.07% 33.83% 31.92% 31.71% 31.00% 31.07% 30.76% 34.17% 34.34% 36.36% 39.36% 41.48% 40.28% 32.88% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 27.83% 33.39% 32.18% 33.97% 31.54% 30.96% 32.24% 25.87% 28.98% 27.59% 30.70% 35.87% 46.73% 42.87% 38.67% 31.25% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 32.52% 30.84% 30.90% 31.66% 31.77% 32.25% 32.08% 30.19% 29.44% 28.71% 28.97% 30.16% 34.01% 36.56% 38.61% 30.54% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 2.86% 2.71% 5 Yr Med Payout 109.84% 35.32% 28.98% 13.94% <-IRR #YR-> 10 Dividends 268.70%
* Dividends per share  5 Yr Med and Cur. 50.13% 57.95% Last Div Inc ---> $0.5300 $0.5830 10.0% 16.69% <-IRR #YR-> 5 Dividends 116.33%
-$0.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.12
-$0.98 $0.00 $0.00 $0.00 $0.00 $2.12
Historical Dividends Historical High Div 7.69% Low Div 2.59% Ave Div 5.14% Med Div 3.49% Close Div 3.26% Historical Dividends
High/Ave/Median Values Curr diff Exp. -44.23%     65.57% Exp. -16.57% Cheap 22.88% Cheap 31.65% High/Ave/Median 
Future Dividend Yield Div Yd 7.90% earning in 5 Years at IRR of 13.00% Div Inc. 84.24% Future Dividend Yield
Future Dividend Yield Div Yd 14.56% earning in 10 Years at IRR of 13.00% Div Inc. 239.46% Future Dividend Yield
Future Dividend Yield Div Yd 26.82% earning in 15 Years at IRR of 13.00% Div Inc. 525.43% Future Dividend Yield
I am earning GC Div Gr 253.33% 11/14/08 # yrs -> 8 2008 $20.19 Cap Gain 169.34% I am earning GC
I am earning Div org yield 3.27% 12/31/17 Trading Div G Yrly 14.82% Div start $0.66 -3.27% 11.55% I am earning Div
I am earning GC Div Gr 366.40% 7/12/05 # yrs -> 11 2005 $17.96 Cap Gain 202.78% I am earning GC
I am earning Div org yield 2.78% 12/31/17 Trading Div G Yrly 13.13% Div start $0.50 -2.78% 12.98% I am earning Div
Yield if held 5 yrs 5.91% 5.70% 5.40% 5.55% 5.54% 4.99% 5.36% 5.98% 6.27% 6.62% 7.14% 6.49% 5.89% 5.15% 4.40% 5.77% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 13.87% 12.62% 9.45% 8.22% 9.23% 9.69% 9.71% 9.92% 10.59% 10.47% 10.91% 11.59% 12.35% 11.60% 11.02% 9.81% <-Median-> 10 Paid Median Price
Yield if held 15 yrs 8.76% 11.70% 20.16% 19.13% 19.38% 22.72% 21.51% 17.36% 15.69% 17.46% 21.20% 21.00% 20.47% 19.61% 17.44% 19.77% <-Median-> 10 Paid Median Price
Yield if held 20 yrs 14.35% 19.94% 37.05% 36.52% 36.66% 49.72% 46.54% 35.83% 29.04% 29.08% 36.66% <-Median-> 7 Paid Median Price
Yield if held 25 yrs 31.39% 43.13% 76.46% 67.59% 61.07% 37.26% <-Median-> 2 Paid Median Price
Cost covered if held 5 years 24.17% 23.24% 22.65% 23.76% 23.25% 20.18% 21.01% 23.09% 24.66% 26.56% 25.45% 23.77% 22.68% 22.19% 20.73% 23.51% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 94.52% 84.69% 64.64% 57.12% 62.71% 63.38% 61.32% 60.92% 65.47% 65.29% 59.08% 63.48% 70.60% 74.61% 78.44% 63.04% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 80.78% 103.99% 179.55% 170.62% 166.97% 186.47% 169.10% 131.62% 118.88% 132.80% 138.93% 138.28% 139.67% 149.93% 147.39% 152.95% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 138.84% 182.22% 322.50% 314.38% 314.14% 363.68% 339.68% 269.45% 243.94% 269.68% 314.38% <-Median-> 7 Paid Median Price
Cost covered if held 25 years 250.74% 340.31% 616.66% 605.51% 601.56% 295.52% <-Median-> 2 Paid Median Price
Graham No. $10.44 $11.53 $12.61 $19.22 $21.24 $16.71 $17.08 $12.17 $11.84 $21.28 $22.71 $29.00 $32.14 $33.72 $35.67 151.62% <-Total Growth 10 Graham Price
Increase -4.73% 10.43% 9.40% 52.45% 10.51% -21.32% 2.16% -28.73% -2.74% 79.81% 6.71% 27.69% 10.81% 4.94% 5.77% 8.06% <-Median-> 10 Increase
Price/GP Ratio Med 1.63 1.59 1.50 1.05 1.00 1.56 1.91 3.25 3.82 2.49 2.35 1.73 1.75 1.82 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.86 1.79 1.62 1.20 1.14 1.73 2.23 3.54 4.11 2.82 2.90 2.04 1.81 2.13 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.41 1.39 1.37 0.89 0.85 1.39 1.60 2.97 3.54 2.15 1.81 1.42 1.69 1.51 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.74 1.75 1.59 1.03 1.14 1.68 2.23 3.54 3.92 2.81 2.03 1.95 1.69 1.61 1.52 1.99 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 74.10% 74.70% 58.65% 2.90% 14.46% 68.33% 123.07% 253.51% 292.09% 180.69% 102.55% 94.83% 69.22% 61.25% 52.45% 98.69% <-Median-> 10 Graham Price
Pre-split'05
Pre-split'11 $36.34 $40.27 $40.01 $39.56 $48.63 $56.27
Price Close $18.17 $20.14 $20.01 $19.78 $24.32 $28.14 $38.09 $43.02 $46.41 $59.74 $46.00 $56.50 $54.38 $54.38 $54.38 180.61% <-Total Growth 10 Stock Price
Increase 21.74% 10.81% -0.65% -1.12% 22.93% 15.71% 35.38% 12.94% 7.88% 28.72% -23.00% 22.83% -3.75% 0.00% 0.00% 10.87% <-IRR #YR-> 10 Stock Price
P/E 22.29 22.50 20.52 10.87 11.44 21.89 29.30 55.15 84.38 43.61 -1150.00 29.27 22.95 20.84 18.62 8.21% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.98 24.71 22.35 20.29 13.36 13.24 29.64 33.09 59.50 108.62 33.58 -1412.50 28.18 22.95 20.84 14.20% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D.  per yr 3.33% 3.40% % Tot Ret 23.47% 29.28% Price Inc 12.94% P/E:  25.58 43.61 11.60% <-IRR #YR-> 5 Price & Dividend
-$20.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $56.50
-$38.09 $0.00 $0.00 $0.00 $0.00 $56.50
-$20.14 $0.62 $0.66 $0.74 $0.85 $0.98 $1.13 $1.26 $1.40 $1.86 $58.62
-$38.09 $1.13 $1.26 $1.40 $1.86 $58.62
Price H/L Median $17.05 $18.30 $18.89 $20.11 $21.16 $26.05 $32.69 $39.56 $45.26 $52.95 $53.47 $50.17 $56.15 174.16% <-Total Growth 10 Stock Price
Increase 27.50% 7.35% 3.21% 6.49% 5.21% 23.14% 25.46% 21.03% 14.41% 16.98% 0.99% -6.18% 11.92% 10.61% <-IRR #YR-> 10 Stock Price
P/E 20.91 20.44 19.37 11.05 9.96 20.27 25.14 50.72 82.29 38.65 -1336.75 25.99 23.69 8.95% <-IRR #YR-> 5 Stock Price
Trailing P/E 17.80 22.45 21.10 20.63 11.63 12.26 25.44 30.43 58.03 96.26 39.03 -1254.13 29.09 14.31% <-IRR #YR-> 10 Price & Dividend
P/E on Running 5 yr Average 19.45 20.07 20.34 18.41 15.96 18.35 21.78 27.06 37.47 50.09 67.51 54.65 45.42 12.85% <-IRR #YR-> 5 Price & Dividend
P/E on Running 10 yr Average 25.58 25.43 24.28 21.90 19.54 22.69 27.10 33.10 39.35 44.44 48.35 41.48 #DIV/0! 16.79 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 3.70% 3.90% % Tot Ret 25.87% 30.36% Price Inc 14.41% P/E:  22.71 38.65 Count 27 Years of data
-$18.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $50.17
-$32.69 $0.00 $0.00 $0.00 $0.00 $50.17
-$18.30 $0.62 $0.66 $0.74 $0.85 $0.98 $1.13 $1.26 $1.40 $1.86 $52.29
-$32.69 $1.13 $1.26 $1.40 $1.86 $52.29
High Month Nov Dec Nov Jun Dec Dec Dec Dec May Dec Apr Sep Jan
Pre-split'05
Pre-split'11 $38.82 $41.24 $40.96 $46.05 $48.63 $57.82
Price High $19.41 $20.62 $20.48 $23.03 $24.32 $28.91 $38.09 $43.02 $48.65 $60.04 $65.85 $59.10 $58.09 186.61% <-Total Growth 10 Stock Price
Increase 30.05% 6.23% -0.68% 12.43% 5.60% 18.90% 31.75% 12.94% 13.09% 23.41% 9.68% -10.25% -1.71% 11.10% <-IRR #YR-> 10 Stock Price
P/E 23.82 23.04 21.01 12.65 11.44 22.50 29.30 55.15 88.45 43.82 -1646.25 30.62 24.51 9.18% <-IRR #YR-> 5 Stock Price
Trailing P/E 20.27 25.30 22.88 23.62 13.36 13.60 29.64 33.09 62.37 109.16 48.07 -1477.50 30.10 20.37 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 12.94% P/E:  25.90 43.82 30.78 P/E Ratio Historical High
-$20.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $59.10
-$38.09 $0.00 $0.00 $0.00 $0.00 $59.10
Low Month Jan May Aug Oct Mar May Jan Jan Oct Feb Dec Jan Feb
Pre-split'05
Pre-split'11 $29.36 $31.95 $34.58 $34.39 $36.00 $46.39
Price Low $14.68 $15.98 $17.29 $17.20 $18.00 $23.20 $27.28 $36.10 $41.87 $45.85 $41.09 $41.23 $54.20 158.09% <-Total Growth 10 Stock Price
Increase 24.28% 8.82% 8.23% -0.55% 4.68% 28.86% 17.61% 32.33% 15.98% 9.51% -10.38% 0.34% 31.46% 9.95% <-IRR #YR-> 10 Stock Price
P/E 18.01 17.85 17.73 9.45 8.47 18.05 20.98 46.28 76.13 33.47 -1027.25 21.36 22.87 8.61% <-IRR #YR-> 5 Stock Price
Trailing P/E 15.33 19.60 19.32 17.64 9.89 10.92 21.23 27.77 53.68 83.36 29.99 -1030.75 28.08 15.00 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 9.51% P/E:  19.52 33.47 10.45 P/E Ratio Historical Low
-$15.98 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $41.23
-$27.28 $0.00 $0.00 $0.00 $0.00 $41.23
Long Term Debt $19,251 $20,203 $22,357 $33,423 $39,391 $36,494 Debt
Change 4.95% 10.66% 49.50% 17.86% -7.35% Change
Debt/Market Cap Ratio 0.65 0.58 0.58 0.66 0.99 0.68 0.65 <-Median-> 6 Debt/Market Cap Ratio
Goodwill & Intangibles $1,731 $1,449 $1,649 $1,428 $1,651 Intangibles Goodwill
Change -16.29% 13.80% -13.40% 15.62% Change
Intangible/Market Cap Ratio 0.05 0.04 0.03 0.04 0.03 0.04 <-Median-> 5 Intangible/Market Cap Ratio
Market Cap $12,679 $13,692 $14,216 $14,234 $18,382 $21,664 $29,748 $34,631 $38,567 $50,898 $39,928 $53,280 $51,280 $51,280 $51,280 289.13% <-Total Growth 10 Market Cap
Market Cap/Assets 0.74 0.74 0.71 0.58 0.65 0.72 0.87 0.73 0.67 0.70 0.47 0.62
Diluted # of Shares in Million 682.4 686.6 716.6 726.2 733.0 748 761 785 817 840 858 918 33.70% <-Total Growth 10 Diluted
Change 1.19% 0.62% 4.37% 1.34% 0.94% 2.05% 1.74% 3.15% 4.08% 2.82% 2.14% 6.99% 2.48% <-Median-> 10 Change
Basic # of Shares in Millions 675 680.0 710.6 719.6 728.0 751 741 772 806 829 847 911 33.97% <-Total Growth 10 Basic
Change 0.00% 0.77% 4.50% 1.27% 1.17% 3.16% -1.33% 4.18% 4.40% 2.85% 2.17% 7.56% 3.01% <-Median-> 10 Change
Difference 3.4% 0.0% 0.0% 0.0% 3.8% 2.5% 5.4% 4.3% 3.1% 2.8% 2.5% 3.5% 2.94% <-Median-> 10 Difference
# of Share in Millions 697.8 680.0 710.6 719.6 756.0 770.0 781 805 831 852 868 943 943 943 943 3.32% <-IRR #YR-> 10 Shares
Change 0.88% -2.55% 4.50% 1.27% 5.06% 1.85% 1.43% 3.07% 3.23% 2.53% 1.88% 8.64% 0.00% 0.00% 0.00% 3.84% <-IRR #YR-> 5 Shares
CF fr Op $Millon $903.5 $1,298 $1,379 $1,388 $2,017 $1,851 $2,703 $2,874 $3,341 $2,547 $4,571 $5,211 $4,706 $5,130 $5,686 301.56% <-Total Growth 10 Cash Flow
Increase 1.89% 43.63% 6.24% 0.65% 45.35% -8.23% 46.03% 6.33% 16.25% -23.77% 79.47% 14.00% -9.70% 9.02% 10.85% Shr Issue SO, DRIP
5 year Running Average $697 $873 $967 $1,171 $1,397 $1,586 $1,867 $2,167 $2,557 $2,663 $3,207 $3,709 $4,075 $4,433 $5,061 324.64% <-Total Growth 10 CF 5 Yr Running
CFPS $1.29 $1.91 $1.94 $1.93 $2.67 $2.40 $3.46 $3.57 $4.02 $2.99 $5.27 $5.53 $4.99 $5.44 $6.03 189.56% <-Total Growth 10 Cash Flow per Share
Increase 1.00% 47.39% 1.67% -0.61% 38.35% -9.90% 43.97% 3.16% 12.61% -25.64% 76.16% 4.93% -9.70% 9.02% 10.85% 14.91% <-IRR #YR-> 10 Cash Flow 301.56%
5 year Running Average $1.03 $1.28 $1.39 $1.67 $1.95 $2.17 $2.48 $2.81 $3.22 $3.29 $3.86 $4.27 $4.56 $4.84 $5.45 14.03% <-IRR #YR-> 5 Cash Flow 92.79%
P/CF on Med Price 13.16 9.59 9.73 10.43 7.93 10.84 9.44 11.08 11.26 17.71 10.15 9.08 11.25 11.22% <-IRR #YR-> 10 Cash Flow per Share 189.56%
P/CF on Closing Price 14.03 10.55 10.31 10.26 9.11 11.70 11.01 12.05 11.54 19.98 8.74 10.22 10.90 10.00 9.02 9.81% <-IRR #YR-> 5 Cash Flow per Share 59.67%
5.90% Diff M/C 12.78% <-IRR #YR-> 10 CFPS 5 yr Running 232.86%
Excl.Working Capital CF $397.4 -$126.7 -$20.7 $10.3 -$243.0 $263.0 -$329 $642 $272 $1,777 $688 $362 $0 $0 $0 11.50% <-IRR #YR-> 5 CFPS 5 yr Running 72.34%
CF fr Op $M WC $1,301 $1,171 $1,358 $1,398 $1,774 $2,114 $2,374 $3,516 $3,613 $4,324 $5,259 $5,573 $4,706 $5,130 $5,686 375.92% <-Total Growth 10 Cash Flow less WC
Increase 26.57% -9.99% 15.97% 2.95% 26.90% 19.17% 12.30% 48.10% 2.76% 19.68% 21.62% 5.97% -15.56% 9.02% 10.85% 16.88% <-IRR #YR-> 10 Cash Flow less WC 375.92%
5 year Running Average $888 $1,039 $1,159 $1,251 $1,400 $1,563 $1,804 $2,235 $2,678 $3,188 $3,817 $4,457 $4,695 $4,998 $5,271 18.61% <-IRR #YR-> 5 Cash Flow less WC 134.75%
CFPS Excl. WC $1.86 $1.72 $1.91 $1.94 $2.35 $2.75 $3.04 $4.37 $4.35 $5.08 $6.06 $5.91 $4.99 $5.44 $6.03 15.67% <-IRR #YR-> 10 CF less WC 5 Yr Run 328.81%
Increase 25.46% -7.63% 10.98% 1.66% 20.79% 17.00% 10.72% 43.69% -0.46% 16.73% 19.38% -2.46% -15.56% 9.02% 10.85% 19.83% <-IRR #YR-> 5 CF less WC 5 Yr Run 147.12%
5 year Running Average $1.30 $1.52 $1.67 $1.79 $1.96 $2.13 $2.40 $2.89 $3.37 $3.92 $4.58 $5.15 $5.28 $5.49 $5.69 13.12% <-IRR #YR-> 10 CFPS - Less WC 243.19%
P/CF on Med Price 9.14 10.63 9.88 10.35 9.02 9.49 10.75 9.06 10.41 10.43 8.83 8.49 11.25 14.22% <-IRR #YR-> 5 CFPS - Less WC 94.42%
P/CF on Closing Price 9.75 11.69 10.47 10.18 10.36 10.25 12.53 9.85 10.67 11.77 7.59 9.56 10.90 10.00 9.02 12.97% <-IRR #YR-> 10 CFPS 5 yr Running 238.61%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 10.29 5 yr  11.08 P/CF Med 10 yr 9.69 5 yr  9.06 12.52% Diff M/C 16.53% <-IRR #YR-> 5 CFPS 5 yr Running 114.92%
-$3.46 $0.00 $0.00 $0.00 $0.00 $5.53 Cash Flow per Share
-$1.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.27 CFPS 5 yr Running
-$2.48 $0.00 $0.00 $0.00 $0.00 $4.27 CFPS 5 yr Running
-$1,171 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,573 Cash Flow less WC
-$2,374 $0 $0 $0 $0 $5,573 Cash Flow less WC
-$1,039 $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,457 CF less WC 5 Yr Run
-$1,804 $0 $0 $0 $0 $4,457 CF less WC 5 Yr Run
-$1.72 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.91 CFPS - Less WC
-$3.04 $0.00 $0.00 $0.00 $0.00 $5.91 CFPS - Less WC
-$1.52 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.15 CFPS 5 yr Running
-$2.40 $0.00 $0.00 $0.00 $0.00 $5.15 CFPS 5 yr Running
Changes in regulatory assets and liabilities $22 $41
Changes in environmental liabilities, net of recoveries -$78 -$43 -$4
Changes in operating assets and liabilities (Note 29) -$1,721 -$686 -$358
Sum -$1,777 -$688 -$362
Google -$1,777 -$688 -$362
Difference $0 $0 $0
OPM 10.7% 12.2% 11.6% 8.6% 16.2% 12.2% 13.9% 11.4% 10.1% 6.8% 13.5% 15.1% 23.68% <-Total Growth 10 OPM
Increase -21.16% 14.06% -5.12% -25.63% 88.08% -24.37% 13.85% -18.48% -10.63% -33.33% 99.90% 11.47% Should increase  or be stable.
Diff from Ave -6.7% 6.4% 0.9% -24.9% 41.2% 6.8% 21.5% -0.9% -11.5% -41.0% 18.0% 31.5% 0.04 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 11.46% 5 Yrs 11.36% should be  zero, it is a   check on calculations
Current Assets $3,075.6 $3,054.2 $3,264.8 $3,709 $3,595 $3,761 $4,295 $6,600 $6,950 $8,201 $7,597 $8,410 Liq ratio of 1.5 and up, best
Current Liabilities $3,250.7 $3,223.9 $3,514.8 $4,017 $3,789 $3,355 $4,860 $7,069 $10,728 $9,501 $10,814 $12,966 0.90 <-Median-> 10 Ratio
Liquidity Ratio 0.95 0.95 0.93 0.92 0.95 1.12 0.88 0.93 0.65 0.86 0.70 0.65 0.70 <-Median-> 5 Ratio
Liq. with CF aft div 1.11 1.23 1.20 1.15 1.33 1.48 1.28 1.21 0.86 1.01 0.98 0.90 0.98 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.89 0.82 0.73 0.67 0.71 0.82 0.70 0.65 0.46 0.45 0.56 0.64 0.56 <-Median-> 5 Ratio
Curr Long Term Debt $666 $719 $714 $224 $374 $652 $2,811 $1,004 $1,004 $4,100
Liquidity Less CLTD 1.15 1.12 1.17 1.20 0.96 1.03 0.88 0.97 0.77 0.95 0.95 <-Median-> 5 Ratio
Liq. with CF aft div 1.48 1.40 1.64 1.58 1.39 1.33 1.17 1.12 1.08 1.31 1.17 <-Median-> 5 Ratio
Assets $17,211 $18,379 $19,907 $24,701 $28,169 $30,120 $34,343 $47,172 $57,568 $72,857 $84,664 $85,832 Debt Ratio of 1.5 and up, best
Liabilities $12,250 $13,054 $13,982 $17,286 $20,181 $21,897 $24,656 $32,414 $39,005 $51,807 $62,325 $60,477 1.41 <-Median-> 10 Ratio
Debt Ratio 1.40 1.41 1.42 1.43 1.40 1.38 1.39 1.46 1.48 1.41 1.36 1.42 1.42 <-Median-> 5 Ratio
Check $6,793 $13,496 $16,786 $18,898 $21,386
Total Book Value $4,961 $5,326 $5,926 $7,416 $7,988 $8,223 $9,687 $14,758 $18,563 $21,050 $22,339 $25,355 376.08% <-Total Growth 10 Total Book Value
Commitments etc $1,053 $2,249 $2,141 $3,392
NCI $691 $715 $651 $797 $727 $658 $846 $4,258 $4,014 $2,015 $1,300 $577 -19.32% <-Total Growth 10 Non-Control. Int
Preferred Shares $125 $125 $125 $125 $125 $125 $1,056 $3,707 $5,141 $6,515 $6,515 $6,515 5112.00% <-Total Growth 10 Preferred Shares
Book Value $4,145 $4,486 $5,150 $6,494 $7,136 $7,440 $7,785 $6,793 $9,408 $12,520 $14,524 $18,263 $18,263 $18,263 $18,263 307.15% <-Total Growth 10 Book Value
Book Value per Share $5.94 $6.60 $7.25 $9.02 $9.44 $9.66 $9.97 $8.44 $11.32 $14.69 $16.73 $19.37 $19.37 $19.37 $19.37 193.60% <-Total Growth 10 Book Value per Share
Change 6.63% 11.06% 9.87% 24.51% 4.60% 2.36% 3.16% -15.34% 34.16% 29.80% 13.87% 15.74% 0.00% 0.00% 0.00% 9.50% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 2.87 2.77 2.61 2.23 2.24 2.70 3.28 4.69 4.00 3.60 3.20 2.59 2.56 P/B Ratio Historical Median
P/B Ratio (Close) 3.06 3.05 2.76 2.19 2.58 2.91 3.82 5.10 4.10 4.07 2.75 2.92 2.81 2.81 2.81 11.37% <-IRR #YR-> 10 Book Value per Share 193.60%
Change 14.18% -0.22% -9.57% -20.59% 17.52% 13.04% 31.23% 33.41% -19.59% -0.83% -32.38% 6.12% -3.75% 0.00% 0.00% 14.21% <-IRR #YR-> 5 Book Value per Share 94.29%
Leverage (A/BK) 3.47 3.45 3.36 3.33 3.53 3.66 3.55 3.20 3.10 3.46 3.79 3.39 3.42 <-Median-> 10 A/BV
Debt/Equity Ratio 2.47 2.45 2.36 2.33 2.53 2.66 2.55 2.20 2.10 2.46 2.79 2.39 2.42 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.95 5 yr Med 3.60 -4.69% Diff M/C
-$6.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.37
-$9.97 $0.00 $0.00 $0.00 $0.00 $19.37
EPS based on Comprehensive  $0.78 $0.96 $0.71 $2.27 $1.34 $0.83 $1.02 $0.44 $1.97 $1.57 $2.37 $1.31 36.57% <-Total Growth 10 EPS based on Comprehensive 
Comprehensive Income 951 608 $835 $612 $2,068 $1,811 $2,026 $1,724 81.28% <-Total Growth 7 Comprehensive Inc
NCI -35 -23 43 164 276 242 -292 229 754.29% <-Total Growth 7 NCI
Preferred Shareholders 7 7 13 105 183 251 288 293 4085.71% <-Total Growth 7 Preferred Shareholders
Shareholders $531 $658 $510 $1,646 $979 $624 $779 $343 $1,609 $1,318 $2,030 $1,202 82.59% <-Total Growth 10 Comprehensive Income
Increase 24.00% -22.57% 222.94% -40.52% -36.26% 24.84% -55.97% 369.10% -18.09% 54.02% -40.79% -18.09% <-Median-> 5 Comprehensive Income
5 Yr Running Average $865 $883 $908 $874 $867 $935 $1,216 $1,300 6.21% <-IRR #YR-> 10 Comprehensive Income 82.59%
ROE 12.8% 14.7% 9.9% 25.3% 13.7% 8.4% 10.0% 5.0% 17.1% 10.5% 14.0% 6.6% 9.06% <-IRR #YR-> 5 Comprehensive Income 54.30%
5Yr Median 13.7% 13.7% 10.0% 10.0% 10.0% 10.0% 10.5% 10.5% 6.00% <-IRR #YR-> 7 5 Yr Running Average #DIV/0!
% Difference from NI -5.7% 7.0% -27.2% 24.6% -37.0% -35.2% -21.4% -43.8% 260.8% 14.2% -5586.5% -32.3% 7.46% <-IRR #YR-> 5 5 Yr Running Average 43.29%
Median Values Diff 5, 10 yr -29.8% -32.3% 10.5% <-Median-> 5 Return on Equity
-$658 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,202
-$779 $0 $0 $0 $0 $1,202
-$865 $0 $0 $0 $0 $0 $0 $1,300
-$908 $0 $0 $0 $0 $1,300
Current Liability Coverage Ratio 0.40 0.36 0.39 0.35 0.47 0.63 0.49 0.50 0.34 0.46 0.49 0.43   CFO / Current Liabilities
5 year Median 0.40 0.40 0.39 0.37 0.39 0.39 0.47 0.49 0.49 0.49 0.49 0.46 46.2% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 7.56% 6.37% 6.82% 5.66% 6.30% 7.02% 6.91% 7.45% 6.28% 5.93% 6.21% 6.49% CFO / Total Assets
5 year Median 6.79% 6.79% 6.82% 6.82% 6.37% 6.37% 6.82% 6.91% 6.91% 6.91% 6.28% 6.28% 6.4% <-Median-> 10 Return on Assets 
Return on Assets ROA 3.3% 3.3% 3.5% 5.3% 5.5% 3.2% 2.9% 1.3% 0.8% 1.6% 0.0% 2.1% Net  Income/Assets Return on Assets
5Yr Median 3.7% 3.3% 3.5% 3.5% 3.5% 3.5% 3.5% 3.2% 2.9% 1.6% 1.3% 1.3% 2.5% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 13.6% 13.7% 13.6% 20.3% 21.8% 12.9% 12.7% 9.0% 4.7% 9.2% -0.3% 9.7% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 16.7% 13.7% 13.7% 13.7% 13.7% 13.7% 13.6% 12.9% 12.7% 9.2% 9.0% 9.0% 11.2% <-Median-> 10 Return on Equity
Net Income $677.0 $753.0 $1,383.4 $1,599.0 $980.0 $1,060.0 $943.0 $494.0 $1,608 -$159 $2,309 206.64% <-Total Growth 9 Net Income
NCI $54.7 $45.9 $55.7 $37.0 $10.0 $56.0 $228.0 -$135.0 $203 -$410 $240 422.88% <-Total Growth 9 NCI
Preferred Shareholders $6.9 $6.9 $6.9 $7.0 $7.0 $13.0 $105.0 $183.0 $251 $288 $293 4146.38% <-Total Growth 9 Preferred Shareholders
Shareholders $562.90 $615.40 $700.20 $1,320.8 $1,555.0 $963.0 $991.0 $610.0 $446.0 $1,154 -$37 $1,776 $3,208 $4,051 $4,807 188.59% <-Total Growth 10 Net Income
Increase -12.77% 9.33% 13.78% 88.63% 17.73% -38.07% 2.91% -38.45% -26.89% 158.74% -103.21% 4900.00% 80.63% 26.28% 18.66% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $545.7 $571.7 $638.2 $768.9 $950.9 $1,030.9 $1,106.0 $1,088.0 $913.0 $832.8 $632.8 $789.8 $1,309.4 $2,030.4 $2,761.0 11.18% <-IRR #YR-> 10 Net Income 188.59%
Operating Cash Flow $903.5 $1,297.7 $1,378.7 $1,387.7 $2,017.0 $1,851.0 $2,703.0 $2,874.0 $3,341.0 $2,547 $4,571 $5,211 12.38% <-IRR #YR-> 5 Net Income 79.21%
Investment Cash Flow -$833.0 -$1,580 -$2,256 -$2,853 -$3,306 -$2,674 -$4,017 -$6,204 -$9,431 -$11,891 -$7,933 -$5,192 3.28% <-IRR #YR-> 10 5 Yr Running Average 38.14%
Total Accruals $492.4 $897.7 $1,577.4 $2,786.0 $2,844.0 $1,786.0 $2,305.0 $3,940.0 $6,536.0 $10,498 $3,325 $1,757 -6.51% <-IRR #YR-> 5 5 Yr Running Average -28.59%
Total Assets $17,211 $18,379 $19,907 $24,701 $28,169 $30,120 $34,343 $47,172 $57,568 $72,857 $84,664 $85,832 Balance Sheet Assets
Accruals Ratio 2.86% 4.88% 7.92% 11.28% 10.10% 5.93% 6.71% 8.35% 11.35% 14.41% 3.93% 2.05% 8.35% <-Median-> 5 Ratio
EPS/CF Ratio 0.44 0.52 0.51 0.94 0.91 0.47 0.43 0.18 0.13 0.27 -0.01 0.33 0.38 <-Median-> 10 EPS/CF Ratio
-$615 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,776
-$991 $0 $0 $0 $0 $1,776
-$572 $0 $0 $0 $0 $0 $0 $0 $0 $0 $790
-$1,106 $0 $0 $0 $0 $790
Change in Close 21.74% 10.81% -0.65% -1.12% 22.93% 15.71% 35.38% 12.94% 7.88% 28.72% -23.00% 22.83% -3.75% 0.00% 0.00% Count 23 Years of data
up/down Down Down Down Down Down Down Down Down Down Count 16 69.57%
Meet Prediction? yes % right Count 3 18.75%
Financial Cash Flow -$22.1 $268.1 $904.2 $1,840.2 $1,109.0 $749.0 $1,380.0 $1,776.0 $5,070.0 $9,770 $2,973 $1,102 C F Statement  Financial CF
Total Accruals $515 $630 $673 $946 $1,735 $1,037 $925 $2,164 $1,466 $728 $352 $655 Accruals
Accruals Ratio 2.99% 3.43% 3.38% 3.83% 6.16% 3.44% 2.69% 4.59% 2.55% 1.00% 0.42% 0.76% 1.00% <-Median-> 5 Ratio
Change in Close 21.74% 10.81% -0.65% -1.12% 22.93% 15.71% 35.38% 12.94% 7.88% 28.72% -23.00% 22.83% -3.75% 0.00% 0.00% Count 13 Years of data
up/down Down Count 1 7.69%
Meet Prediction? % right Count 0 0.00%
Cash $410 $342 $420 $1,776 $776 $1,261 $1,015 $2,117 Cash
Cash per Share $0.54 $0.44 $0.54 $2.21 $0.93 $1.48 $1.17 $2.24 $1.48 <-Median-> 5 Cash per Share
Percentage of Stock Price 2.23% 1.58% 1.41% 5.13% 2.01% 2.48% 2.54% 3.97% 2.54% <-Median-> 5 % of Stock Price
Notes:
March 11, 2017.  Last estimates were for 2016, 2017 and 2018 of $38676M, $40696M and $43955M for Revenue, $3.93, $4.34 for AFFO for 2016 and 2017, 
$2.44 for Adjusted EPS for 2016, $2.34, $2.51 and $2.90 for EPS, $5.05, $5.32 and $5.03 for CFPS and $1758M, $2382M and $2682M for Net Income.
March 15, 2016.  Last estimates were for 2015 and 2016 of 32681M and $32681M for Revenue, $2.75 and $3.23 for AFFO, $2.16 and 2.44 for Adj EPS, 
$2.24, $2.66 and $3.10 for EPS for 2015, 2016 and 2017, $5.34 for 2015 for CFPS and $1889M for 2015 for Net Income
March 22, 2015.  Last estimates were for 2014 and 2015 of $31234M and  $32681M  for Revenue, $2.47 and 3.07 for AFFO, $1.89 and $2.24 for EPS, $4.72 and $5.34 for CFPS, $1534M and $1889M for Net Income.
February 22, 2014.  Last estimates were for 2013, 2014 and 2014 of $25909M, 28014M and $29689M for Revenue, $2.33 and $2.79 for AFFO, $1.74 and $2.07 Adjusted EPS, 
$1.81 and $2.14 and $2.44 EPS and $4.26, 4.83 and $4.70 CFPS.
April 9, 2013.  Last estimates were for 2012, 2013 and 2014 of $19840M and $20711M for revenue, $1.62 and $1.89 Adj. EPS, $1.65, 1.85 and $2.04 for EPS andf $3.42 and $3.78 for CFPS.
Non-adjusted EPS also included $105 million asset impairment to Stingray and Garden Banks assets.
Feb 25, 2012.  Last estimates I got were for 2011 and 2012 of $1.46 and $1.57 for Adj EPS, $1.43 and $1.56 for EPS and $2.73 and 3.06 for CF.
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
Shares are diluted by company's interest in own shares at 20M, 25M and 22M from 2012- 2010.
In 2015, Enbridge said it has been paying dividends for over 62 years.  They have increased their dividends since 1996.
Comments April 19, 2013
Calgary pipeline operator Enbridge is the only one out of 57 Canadian companies rated by Morningstar that has both a wide moat and a positive 
“moat trend.” A key part of its competitive edge is its scale: it has pipeline presences in the oil sands, the Bakken fields in the Midwest U.S., and 
in Cushing, Okla., as well as growth opportunities in natural gas and electricity.
Analyst David McColl says Enbridge is just one of a handful of pipeline companies “with the expertise, scale, access to capital, and geographic  compared to recent prices around $45
reach to successfully grow its pipeline transportation business.” He raised his fair-value estimate for Enbridge shares this week to $54 (U.S.),
Sector:
Infrastructure, Utility
What should this stock accomplish?
You should expect moderte to good dividend yield and moderate dividend growth.  Utilities should be a stable part of your portfolio.
Would I buy this company and Why.
I like this stock.  It is a dividend growth company.
Dividends
Dividends are paid quarterly in Cycle 3, which is March, June, September and December.  Dividends are declared for shareholders of record of one month and  paid near the first of the following month.
For example, the Dividend payable on December 1, 2013 was declared for shareholders of record of November 15, 2013.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers Over the past 65 years, Enbridge has become a leader in the safe and reliable delivery of energy in North America
For employees Enbridge believes in sharing the success of our company with the people who make it happen – our employees
For community Our perspective is holistic, and over the past decade we've invested across a diverse spectrum of initiatives aimed at strengthening our communities
For investors There’s an urgent need for more energy infrastructure in North America, and Enbridge is playing a critical role in providing it.
Our shareholders expect us to generate strong financial performance and returns on the capital they’ve invested in our business.
Why am I following this stock. 
I am following this stock as I own it.
Why I bought this stock.
I first bought this stock in 2005 and then bought more in 2008 and 2009.  This stock was on the Dividend Achievers, the Dividend Aristocrats list and also on Mike Higgs’ list of Canadian Dividend Growth stocks.  Enbridge is considered to be a low risk stock. 
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.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Apr 04 2013 Feb 22 2014 Mar 22 2015 Mar 14 2016 Mar 11 2017
Monaco, Albert 0.119 0.01% 0.151 0.02% 0.192 0.02% 0.375 0.04% 0.395 0.04%
CEO - Shares - Amount $5.504 $9.018 $8.841 $21.175 $21.48
Options - percentage 4.758 0.57% 0.000 0.00% 5.706 0.67% 4.072 0.43% 4.945 0.52%
Options - amount $220.801 $0.000 $340.863 $230.076 $268.92
Company says compensation $6.718
Reuters Basic Salary $12.167
Whelen, John Kendall 0.038 0.00% 0.061 0.01% 0.080 0.01%
CFO - Shares - Amount $1.769 $3.427 $4.37
Options - percentage 1.623 0.19% 1.628 0.17% 1.492 0.16%
Options - amount $96.946 $91.982 $81.14
Hansen, Cynthia Lynn
Officer - Shares - Amount
Options - percentage
Options - amount
Bird, John Richard 0.308 0.04% 0.305 0.04% 0.473 0.05% 0.474 0.05% 0.598 0.06%
Officer - Shares - Amount $14.284 $18.207 $21.772 $26.774 $32.52
Options - percentage 165.196 19.88% 0.000 0.00% 3.881 0.46% 3.905 0.41% 3.410 0.36%
Options - amount $7,666.751 $0.000 $231.862 $220.617 $185.41
Company says compensation $5.847
Reuters Basic Salary $6.861
Reuters Options Value 0.320 $5.365
Bloxom, Steven Ray 0.020 0.00% 0.025 0.00% 0.028 0.00%
Officer - Shares - Amount $1.197 $1.172 $1.563
Options - percentage 0.000 0.00% 0.695 0.08% 0.673 0.07%
Options - amount $0.000 $41.489 $38.005
Cazalot, Clarence P. Jr 0.013 0.00%
Director - Shares - Amount $0.70
Options - percentage 0.000 0.00%
Options - amount $0.00
Blanchard, James Johnston 0.012 0.00% 0.014 0.00% 0.016 0.00%
Director - Shares - Amount $0.747 $0.643 $0.892
Options - percentage 0.098 0.01% 0.102 0.01% 0.107 0.01%
Options - amount $5.859 $6.104 $6.065
Ebel, Gregory Lorne 0.461 0.05%
Chairman - Shares - Amt $25.09
Options - percentage 0.729 0.08%
Options - amount $39.66
Arledge, David A. 0.033 0.00% 0.033 0.00% 0.033 0.00% 0.033 0.00% 0.033 0.00%
Chairman - Shares - Amt $1.513 $1.948 $1.500 $1.842 $1.77
Options - percentage 0.043 0.01% 0.047 0.01% 0.051 0.01% 0.056 0.01% 0.062 0.01%
Options - amount $2.005 $2.828 $3.064 $3.176 $3.35
Salary $0.470
Increase in O/S Shares 6.000 0.75% 5.000 0.60% 3.000 0.35% 4.000 0.46% 3.000 0.32%
due to SO 2013 $258.120 $232.050 $179.220 $184.000 $169.500
Book Value $78.000 $69.000 $51.000 $76.000 $65.000
Insider Buying -$0.180 -$0.909 -$0.136
Insider Selling $25.316 $36.153 $8.811
Net Insider Selling $25.136 $35.244 $8.676
% of Market Cap 0.06% 0.07% 0.02%
Directors 12 17% 12 12 13
Women 2 2 17% 3 25% 3 23%
Minorities 0 0% 0 0% 0 0% 1 8%
Institutions/Holdings 412 0.00% 320 62.02% 0 0.00%
Total Shares Held 569.145 515.704 60.53% 0.000 0.00%
Increase/Decrease 4.313 0.75% 8.729 1.72% 0.000 #DIV/0!
Starting No. of Shares 573.458 506.975 Nasdaq 0.000 Nasdaq
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