Enbridge Inc. (ENB) expects earnings per share to grow as much as 12 percent through 2017 as Canada’s largest oil-pipeline owner develops more infrastructure projects, said Chief Executive Officer Al Monaco.
Enbridge has C$36 billion ($34.9 billion) worth of projects through 2017, Monaco said today at an investor meeting in Toronto. The company sees natural gas and power projects as a growing share of Enbridge’s business, he said.
Enbridge, based in Calgary, is expanding and reversing pipeline routes to the U.S. Gulf Coast as well as to Canada’s eastern provinces. The company is also proposing a conduit called Northern Gateway to transport bitumen to Canada’s Pacific coast, allowing oil-sands producers to access markets in Asia.
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