October 3, 2012 / 1:17 PM / in 5 years

Enbridge sees possible 12 percent EPS growth rate

CALGARY, Alberta, Oct 3 (Reuters) - Enbridge Inc 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.

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.

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