October 3, 2012 / 1:22 PM / in 5 years

Enbridge sees possible 12 percent earnings growth rate

CALGARY, Alberta (Reuters) - Enbridge Inc (ENB.TO) could exceed its goal of 10 percent growth in earnings per share over the next four years if it moved ahead with a number of development projects it deems to have a high probability of proceeding, the company’s new chief executive said on Wednesday.

The Enbridge Tower is pictured on Jasper Avenue in Edmonton in this August 4, 2012, file photo. REUTERS/Dan Riedlhuber/Files

Al Monaco, who became CEO at the start of this month, told analysts and investors that Canada’s No. 2 pipeline company has C$18 billion ($18.3 billion) of commercially secured projects through 2016 and another C$12 billion in highly probable ones. Another C$5 billion are seen as potential projects.

If projects in the first two categories went ahead, the compounded annual growth rate in earnings per share could exceed 12 percent, Monaco said.

Reporting by Jeffrey Jones; Editing by Gerald E. McCormick

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