Boston, MA 04/03/2014 (wallstreetpr) – Enbridge Inc (USA) (NYSE:ENB) stated that the expansion of the two Alberta Clipper projects will not commence until around mid-2015. The delays in the projects were occasioned by the amendment of the initial environmental review document which the company had earlier submitted. Currently a supplemental document is being worked on in collaboration with the Department of State. The wait to start work on the two projects has actually taken longer than earlier anticipated. Once the projects are done, their capacity is expected to jump to about 800,000 bpd. If the delays did not come, Enbridge Inc (USA) (NYSE:ENB) had plans of expanding the line to give 120,000 bpd by mid-2014, the CEO Al Monaco stated. Shares gained in the last session.
Targa Resources Partners LP (NYSE:NGLS) is currently in a long-term gain trend which can be traced back to 2008 during which the stock was valued at $6. With share currently trading in the range of $59, a clear significant advance of almost 10-fold can be seen in the stock, and things continue to look up. The past year was sort of a challenging period for NGLS as sideway movements dominated 2013. Yet in 2014, the stock seems to have a lot of reward potential for the shorts and longs. The shorts can take advantage of the price volatility, while longs can keep an eye to jump in at a pullback to the range of $56 – $55. Analysts at TheStreet have already identified the strength in the stock and are recommending buy, citing its impressive earnings per share, attractive net income growth, revenue growth and solid stock price rally. The strength noted outweighs concerns such as high debt levels.
Targa Resources Corp (NYSE:TRGP) whose first quarter financial results are expected to come later this month, announced that it expects to return first quarter adjusted EBITDA in the region of $210 million. The company also set its target for adjusted EBITDA for 2014 to come between $820 and $880 million. Shares of the company popped to a new 52-week high in the last session.
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