Enbridge in asset swap with Philip 66

Oh, this is interesting?

One of my largest (of 13) dividend paying positions.

You go guy! }};-D

Tim

https://www.bnnbloomberg.ca/enbridge-to-assume-operation-of-…

COMPANY NEWS 16h ago

Enbridge to assume operation of Gray Oak oil pipeline in Texas

The Canadian Press

Enbridge Inc. says it has completed a deal that will see the Calgary-based pipeline giant become operator of the Gray Oak oil pipeline in Texas.

Enbridge says its joint venture merger deal with Houston-based energy company Phillips 66 will result in a single joint venture holding both companies’ indirect ownership interests in Gray Oak, as well as DCP Midstream LP, a Denver-based natural gas company.

3 Likes

I’m happy about this too…PSX my #2 dividend provider after OKE.
I’ll take natural gas & especially NGL’s (propane, butane, ethane) over crude any day.

But I understand ENB …utility-like; fee-based. I used to own some.

PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting

PSX gets more leverage from integrated NGL assets gas processing/pipelines/fractionation and with CP Chem —feedstock for ethane cracker / polyethylene.

PSX usually gets compared to refiners (wild swings lately) but over last 18 months basis, using net income: 25% refining; 34% marketing & specialty; 30% Chemical; 29% Midstream (about to be more). I know that adds to <100% but corporate expenses take the 18% away.

https://s22.q4cdn.com/128149789/files/doc_presentations/2022…

Joe
Long PSX, EPD, OKE

2 Likes

Thank you for recommending this post to our Best of feature.

I’m happy about this too…PSX my #2 dividend provider after OKE.
I’ll take natural gas & especially NGL’s (propane, butane, ethane) over crude any day.

But I understand ENB …utility-like; fee-based. I used to own some.

PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting

PSX gets more leverage from integrated NGL assets gas processing/pipelines/fractionation and with CP Chem —feedstock for ethane cracker / polyethylene.

But I understand ENB …utility-like; fee-based. I used to own some.

PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting

I spent many years squeezing my entire vast investment fortune }};-D into two (wife and I) Canadian TFSA (Tax Free Savings Accounts). One requirement is that only Canadian listed stocks are allowed.

My own rules are minimum 4% yield when I buy.

Meanwhile we live on Indexed Federal Government Pensions and haven’t withdrawn a penny from the TFSA accounts in spite of being long retired.

I’m guessing we are all in somewhat different situations?

Tim