June 3, 2019 / 5:00 PM / 4 months ago

BUZZ-Enbridge: Falls after court ruling on pipeline environmental assessment

** Shares of pipeline operator Enbridge Inc down ~3.7% to C$47.93

** A Minnesota court ruled that co’s final environmental impact statement for its Line 3 oil pipeline replacement project is inadequate

** The project would ship 760,000 barrels per day of Canadian crude from Alberta to Wisconsin, doubling current capacity

** 14 of 20 brokerages rate the stock “buy” or higher, 6 “hold”; their median PT is C$55

** Shares up ~13% this year

Reporting by Shradha Singh in Bengaluru

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