Enbridge Inc (ENB.TO), which operates North America's biggest oil pipeline system, reported a 15 percent rise in quarterly profit on Wednesday and said it is eyeing a return to international acquisitions. Enbridge also said it is still considering building a pipeline from the brimming storage hub at Cushing, Oklahoma, to Houston despite rival proposals. The company's lines carry the bulk of Canada's oil exports to the United States, but Enbridge is looking to broaden its reach as rising output from Alberta's oil sands threatens to saturate the U.S. Midwest market. The company is mulling construction of the Monarch project, which would carry as much as 350,000 barrels a day from Cushing to the Gulf of Mexico refining hub. That is one of three major proposals aimed at siphoning oil from Cushing, where brimming supplies are depressing North American oil prices.
Enbridge Inc. (Enbridge) is engaged in energy transportation and distribution. Shares of ENB fell by 1.59% or $-1.0095/share to $62.58. In the past year, the shares have traded as low as $42.57 and as high as $66.38. On average, 287268 shares of ENB exchange hands on a given day and today's volume is recorded at 218356.
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