June 29, 2018 / 2:09 PM / a year ago

BUZZ-Enbridge Inc: Up after Minnesota regulator approves rebuild of pipeline

** Shares of pipeline operator up 4.6 pct at C$45.90 after a Minnesota regulator approved rebuild of co’s Line 3 oil pipeline

** The clearance, heavily angering environmentalists, comes with conditions including a financial guarantee to clean up any environmental damage

** The real win came with the Route Permit decision - Tudor Pickering analysts say on ENB receiving approval for a route close to its preference

** Brokerage says ENB may see near-term positive upside given construction timeline uncertainty of Trans Mountain Expansion

** So far this year, stock has fallen ~6 pct compared with a ~1 pct rise in the S&P TSX oil and gas index (Reporting by Anirban Paul)

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