Enbridge (ENB) Says Pipeline Packed, Will Continue Growth Regardless of Election Outcome - Cramer
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Enbridge (NYSE: ENB) shares are looking stronger Friday morning following new CEO Al Monaco speaking with equities savant Jim Cramer on Thursday night.
First, Cramer asked whether or not Republican Presidential candidate Mitt Romney's claim that investing in energy independence would create some four million jobs was correct. Monaco said it was, mainly due to lack of connectivity between where oil and gas is in America compared to where it needs to be. He noted that Enbridge was aiming to just get the job done right, regardless of who is elected as the next President.
On Enbridge's current growth target of 12 percent per year, Monaco noted that the Company has about $18 billion worth of secured projects in the pipeline which would account for about 10 percent of growth per year. The addition of incremental projects would allow Enbridge to easily reach its current growth goal.
Finally, Monaco noted that his company is currently hiring. Although the firm has added about 2,500 employees over the last year, it is looking to add thousands more in order to complete projects currently in the works. You can view a current list of openings at Enbridge here.
Cramer said he was still a fan of the stock following its recent Analyst Day update. Shares are up about 0.5 percent in early trading Friday.
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First, Cramer asked whether or not Republican Presidential candidate Mitt Romney's claim that investing in energy independence would create some four million jobs was correct. Monaco said it was, mainly due to lack of connectivity between where oil and gas is in America compared to where it needs to be. He noted that Enbridge was aiming to just get the job done right, regardless of who is elected as the next President.
On Enbridge's current growth target of 12 percent per year, Monaco noted that the Company has about $18 billion worth of secured projects in the pipeline which would account for about 10 percent of growth per year. The addition of incremental projects would allow Enbridge to easily reach its current growth goal.
Finally, Monaco noted that his company is currently hiring. Although the firm has added about 2,500 employees over the last year, it is looking to add thousands more in order to complete projects currently in the works. You can view a current list of openings at Enbridge here.
Cramer said he was still a fan of the stock following its recent Analyst Day update. Shares are up about 0.5 percent in early trading Friday.
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