TELUS Corporation Logo

TELUS Corporation

T.TO

(2.5)
Stock Price

21,81 CAD

2.95% ROA

4.85% ROE

41.95x PER

Market Cap.

32.898.600.000,00 CAD

169.4% DER

6.94% Yield

3.91% NPM

TELUS Corporation Stock Analysis

TELUS Corporation Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

TELUS Corporation Fundamental Stock Analysis
# Analysis Rating
1 Revenue Growth

Over the past five years, this company's revenue has consistently increased, demonstrating a robust financial performance that makes it an appealing opportunity.

2 Assets Growth

This company's revenue has experienced steady growth over the last five years, indicating a reliable and prosperous financial trajectory.

3 Dividend

Investors can trust the company's impressive dividend track record, consistently distributing dividends over the past five years, showcasing a strong commitment to rewarding shareholders.

4 ROE

ROE in an average range (7.11%) suggests satisfactory profitability and decent utilization of shareholders' equity.

5 ROA

The stock's ROA (4.57%) shows that it's doing a pretty good job at making money from its assets, making it a solid choice to invest and earn steady profits.

6 PBV

The stock's PBV ratio (2.14x) indicates a justifiable valuation, presenting a compelling choice for investors seeking reasonable returns.

7 Buffet Intrinsic Value

The company's stock presents an enticing opportunity as it appears undervalued (340) by Warren Buffett's formula, indicating that its intrinsic value exceeds the market price.

8 DER

The stock is burdened with a heavy load of debt (166%), making it financially unstable and potentially risky for investors.

9 Net Profit Growth

This company's net profit has remained stagnant over the past five years, indicating a lack of growth and making it a less favorable investment option.

10 Graham Number

The company's Graham number indicates that it is overvalued compared to its stock price, suggesting a potentially unfavorable investment opportunity.

11 Dividend Growth

Potential investors should be aware that the company's dividend growth has shown no upward trend in the past three years, indicating limited potential for increased returns.

TELUS Corporation Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

TELUS Corporation Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Buy
2 MACD Sell
3 RSI Hold
4 Stoch RSI Sell

TELUS Corporation Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

TELUS Corporation Revenue
Year Revenue Growth
1998 4.842.700.000
1999 5.761.800.000 15.95%
2000 6.433.200.360 10.44%
2001 7.202.599.491 10.68%
2002 7.006.700.000 -2.8%
2003 7.146.000.000 1.95%
2004 7.581.200.000 5.74%
2005 8.142.700.000 6.9%
2006 8.681.000.000 6.2%
2007 9.074.400.000 4.34%
2008 11.747.701.000 22.76%
2009 10.058.442.600 -16.79%
2010 9.779.000.000 -2.86%
2011 10.397.000.000 5.94%
2012 10.852.000.000 4.19%
2013 11.336.000.000 4.27%
2014 11.927.000.000 4.96%
2015 12.430.000.000 4.05%
2016 12.725.000.000 2.32%
2017 13.202.000.000 3.61%
2018 14.095.000.000 6.34%
2019 14.589.000.000 3.39%
2020 15.341.000.000 4.9%
2021 16.838.000.000 8.89%
2022 18.292.000.000 7.95%
2023 19.960.000.000 8.36%
2023 20.005.000.000 0.22%
2024 19.600.000.000 -2.07%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

TELUS Corporation Research and Development Expenses
Year Research and Development Expenses Growth
1998 0
1999 0 0%
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 0 0%
2013 0 0%
2014 0 0%
2015 0 0%
2016 0 0%
2017 0 0%
2018 0 0%
2019 0 0%
2020 0 0%
2021 0 0%
2022 0 0%
2023 0 0%
2023 0 0%
2024 0 0%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

TELUS Corporation General and Administrative Expenses
Year General and Administrative Expenses Growth
1998 0
1999 0 0%
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 1.893.000.000 100%
2012 2.129.000.000 11.09%
2013 2.424.000.000 12.17%
2014 2.487.000.000 2.53%
2015 2.708.000.000 8.16%
2016 2.939.000.000 7.86%
2017 2.595.000.000 -13.26%
2018 2.896.000.000 10.39%
2019 3.034.000.000 4.55%
2020 3.701.000.000 18.02%
2021 4.269.000.000 13.31%
2022 4.899.000.000 12.86%
2023 6.532.000.000 25%
2023 6.148.000.000 -6.25%
2024 5.892.000.000 -4.34%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

TELUS Corporation EBITDA
Year EBITDA Growth
1998 419.800.000
1999 2.532.500.000 83.42%
2000 2.434.700.060 -4.02%
2001 2.982.300.222 18.36%
2002 2.545.900.000 -17.14%
2003 2.888.200.000 11.85%
2004 3.182.300.000 9.24%
2005 3.407.900.000 6.62%
2006 3.670.400.000 7.15%
2007 3.647.100.000 -0.64%
2008 4.662.327.000 21.78%
2009 3.911.965.600 -19.18%
2010 3.717.000.000 -5.25%
2011 3.778.000.000 1.61%
2012 3.977.000.000 5%
2013 4.028.000.000 1.27%
2014 4.222.000.000 4.59%
2015 4.266.000.000 1.03%
2016 4.195.000.000 -1.69%
2017 4.781.000.000 12.26%
2018 4.866.000.000 1.75%
2019 5.520.000.000 11.85%
2020 5.400.000.000 -2.22%
2021 5.902.000.000 8.51%
2022 6.318.000.000 6.58%
2023 6.028.000.000 -4.81%
2023 6.367.000.000 5.32%
2024 6.876.000.000 7.4%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

TELUS Corporation Gross Profit
Year Gross Profit Growth
1998 1.391.100.000
1999 2.216.900.000 37.25%
2000 2.464.800.540 10.06%
2001 2.529.598.854 2.56%
2002 2.518.600.000 -0.44%
2003 2.844.100.000 11.44%
2004 5.174.000.000 45.03%
2005 5.489.800.000 5.75%
2006 5.939.000.000 7.56%
2007 6.025.900.000 1.44%
2008 4.670.846.000 -29.01%
2009 3.854.375.100 -21.18%
2010 3.717.000.000 -3.7%
2011 5.671.000.000 34.46%
2012 6.032.000.000 5.98%
2013 6.374.000.000 5.37%
2014 6.628.000.000 3.83%
2015 6.898.000.000 3.91%
2016 7.094.000.000 2.76%
2017 7.267.000.000 2.38%
2018 7.727.000.000 5.95%
2019 8.519.000.000 9.3%
2020 9.073.000.000 6.11%
2021 10.139.000.000 10.51%
2022 11.185.000.000 9.35%
2023 12.528.000.000 10.72%
2023 12.468.000.000 -0.48%
2024 2.992.000.000 -316.71%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

TELUS Corporation Net Profit
Year Net Profit Growth
1998 72.400.000
1999 349.700.000 79.3%
2000 461.000.300 24.14%
2001 453.500.478 -1.65%
2002 -229.000.000 298.04%
2003 331.500.000 169.08%
2004 565.800.000 41.41%
2005 700.300.000 19.21%
2006 1.122.500.000 37.61%
2007 1.257.900.000 10.76%
2008 1.372.776.000 8.37%
2009 1.045.005.800 -31.37%
2010 1.034.000.000 -1.06%
2011 1.219.000.000 15.18%
2012 1.318.000.000 7.51%
2013 1.294.000.000 -1.85%
2014 1.425.000.000 9.19%
2015 1.382.000.000 -3.11%
2016 1.223.000.000 -13%
2017 1.460.000.000 16.23%
2018 1.600.000.000 8.75%
2019 1.746.000.000 8.36%
2020 1.207.000.000 -44.66%
2021 1.655.000.000 27.07%
2022 1.615.000.000 -2.48%
2023 544.000.000 -196.88%
2023 841.000.000 35.32%
2024 912.000.000 7.79%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

TELUS Corporation Earning per Share (EPS)
Year Earning per Share (EPS) Growth
1998 0
1999 0 0%
2000 0 0%
2001 0 0%
2002 0 0%
2003 0 0%
2004 0 0%
2005 0 0%
2006 1 0%
2007 1 0%
2008 0 0%
2009 1 0%
2010 1 0%
2011 1 0%
2012 1 100%
2013 1 0%
2014 1 0%
2015 1 0%
2016 1 0%
2017 1 0%
2018 1 0%
2019 1 0%
2020 1 0%
2021 1 100%
2022 1 0%
2023 0 0%
2023 1 0%
2024 1 0%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

TELUS Corporation Free Cashflow
Year Free Cashflow Growth
1998 398.700.000
1999 445.900.000 10.59%
2000 193.800.240 -130.08%
2001 -850.799.109 122.78%
2002 48.700.000 1847.02%
2003 891.300.000 94.54%
2004 1.219.100.000 26.89%
2005 1.595.600.000 23.6%
2006 1.185.300.000 -34.62%
2007 1.401.400.000 15.42%
2008 94.926.000 -1376.31%
2009 838.727.100 88.68%
2010 825.000.000 -1.66%
2011 703.000.000 -17.35%
2012 1.269.000.000 44.6%
2013 1.144.000.000 -10.93%
2014 -137.000.000 935.04%
2015 -1.028.000.000 86.67%
2016 322.000.000 419.25%
2017 866.000.000 62.82%
2018 1.183.000.000 26.8%
2019 33.000.000 -3484.85%
2020 1.752.000.000 98.12%
2021 -928.000.000 288.79%
2022 1.164.000.000 179.73%
2023 538.000.000 -116.36%
2023 1.288.000.000 58.23%
2024 -156.000.000 925.64%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

TELUS Corporation Operating Cashflow
Year Operating Cashflow Growth
1998 1.496.300.000
1999 1.645.100.000 9.05%
2000 1.635.100.480 -0.61%
2001 1.398.600.764 -16.91%
2002 1.742.000.000 19.71%
2003 2.144.000.000 18.75%
2004 2.538.100.000 15.53%
2005 2.914.600.000 12.92%
2006 2.803.700.000 -3.96%
2007 3.171.700.000 11.6%
2008 3.430.723.000 7.55%
2009 3.040.778.400 -12.82%
2010 2.546.000.000 -19.43%
2011 2.550.000.000 0.16%
2012 3.219.000.000 20.78%
2013 3.246.000.000 0.83%
2014 3.407.000.000 4.73%
2015 3.542.000.000 3.81%
2016 3.219.000.000 -10.03%
2017 3.947.000.000 18.44%
2018 4.058.000.000 2.74%
2019 3.927.000.000 -3.34%
2020 4.574.000.000 14.15%
2021 4.388.000.000 -4.24%
2022 4.811.000.000 8.79%
2023 1.307.000.000 -268.09%
2023 4.499.000.000 70.95%
2024 1.388.000.000 -224.14%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

TELUS Corporation Capital Expenditure
Year Capital Expenditure Growth
1998 1.097.600.000
1999 1.199.200.000 8.47%
2000 1.441.300.240 16.8%
2001 2.249.399.873 35.93%
2002 1.693.300.000 -32.84%
2003 1.252.700.000 -35.17%
2004 1.319.000.000 5.03%
2005 1.319.000.000 0%
2006 1.618.400.000 18.5%
2007 1.770.300.000 8.58%
2008 3.335.797.000 46.93%
2009 2.202.051.300 -51.49%
2010 1.721.000.000 -27.95%
2011 1.847.000.000 6.82%
2012 1.950.000.000 5.28%
2013 2.102.000.000 7.23%
2014 3.544.000.000 40.69%
2015 4.570.000.000 22.45%
2016 2.897.000.000 -57.75%
2017 3.081.000.000 5.97%
2018 2.875.000.000 -7.17%
2019 3.894.000.000 26.17%
2020 2.822.000.000 -37.99%
2021 5.316.000.000 46.91%
2022 3.647.000.000 -45.76%
2023 769.000.000 -374.25%
2023 3.211.000.000 76.05%
2024 1.544.000.000 -107.97%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

TELUS Corporation Equity
Year Equity Growth
1998 4.383.500.000
1999 4.320.100.000 -1.47%
2000 6.492.699.460 33.46%
2001 6.986.900.669 7.07%
2002 6.443.800.000 -8.43%
2003 6.672.700.000 3.43%
2004 7.038.700.000 5.2%
2005 6.895.600.000 -2.08%
2006 6.951.700.000 0.81%
2007 6.952.100.000 0.01%
2008 8.768.485.000 20.71%
2009 7.931.782.500 -10.55%
2010 8.201.000.000 3.28%
2011 7.513.000.000 -9.16%
2012 7.686.000.000 2.25%
2013 8.015.000.000 4.1%
2014 7.454.000.000 -7.53%
2015 7.672.000.000 2.84%
2016 7.936.000.000 3.33%
2017 8.263.000.000 3.96%
2018 10.341.000.000 20.09%
2019 10.659.000.000 2.98%
2020 12.602.000.000 15.42%
2021 16.059.000.000 21.53%
2022 17.658.000.000 9.06%
2023 17.506.000.000 -0.87%
2023 17.302.000.000 -1.18%
2024 17.045.000.000 -1.51%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

TELUS Corporation Assets
Year Assets Growth
1998 7.923.200.000
1999 7.811.100.000 -1.44%
2000 16.415.000.000 52.41%
2001 19.265.600.128 14.8%
2002 18.219.800.000 -5.74%
2003 17.477.500.000 -4.25%
2004 17.838.000.000 2.02%
2005 16.222.300.000 -9.96%
2006 16.508.200.000 1.73%
2007 16.987.600.000 2.82%
2008 23.317.720.000 27.15%
2009 20.124.214.900 -15.87%
2010 19.599.000.000 -2.68%
2011 19.931.000.000 1.67%
2012 20.445.000.000 2.51%
2013 21.566.000.000 5.2%
2014 23.217.000.000 7.11%
2015 26.406.000.000 12.08%
2016 27.729.000.000 4.77%
2017 29.548.000.000 6.16%
2018 33.065.000.000 10.64%
2019 37.975.000.000 12.93%
2020 43.332.000.000 12.36%
2021 47.994.000.000 9.71%
2022 54.046.000.000 11.2%
2023 56.460.000.000 4.28%
2023 56.136.000.000 -0.58%
2024 57.311.000.000 2.05%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

TELUS Corporation Liabilities
Year Liabilities Growth
1998 3.539.700.000
1999 3.491.000.000 -1.4%
2000 9.922.300.540 64.82%
2001 12.278.699.459 19.19%
2002 11.776.000.000 -4.27%
2003 10.804.800.000 -8.99%
2004 10.799.300.000 -0.05%
2005 9.326.700.000 -15.79%
2006 9.556.500.000 2.4%
2007 10.035.500.000 4.77%
2008 14.549.235.000 31.02%
2009 12.192.432.400 -19.33%
2010 11.398.000.000 -6.97%
2011 12.418.000.000 8.21%
2012 12.759.000.000 2.67%
2013 13.551.000.000 5.84%
2014 15.763.000.000 14.03%
2015 18.734.000.000 15.86%
2016 19.793.000.000 5.35%
2017 21.285.000.000 7.01%
2018 22.724.000.000 6.33%
2019 27.316.000.000 16.81%
2020 30.730.000.000 11.11%
2021 31.935.000.000 3.77%
2022 36.388.000.000 12.24%
2023 38.954.000.000 6.59%
2023 38.834.000.000 -0.31%
2024 40.266.000.000 3.56%

TELUS Corporation Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
13.44
Net Income per Share
0.53
Price to Earning Ratio
41.95x
Price To Sales Ratio
1.65x
POCF Ratio
6.59
PFCF Ratio
32.06
Price to Book Ratio
2.07
EV to Sales
3.07
EV Over EBITDA
9.14
EV to Operating CashFlow
12.33
EV to FreeCashFlow
59.62
Earnings Yield
0.02
FreeCashFlow Yield
0.03
Market Cap
32,90 Bil.
Enterprise Value
61,17 Bil.
Graham Number
11.23
Graham NetNet
-24.31

Income Statement Metrics

Net Income per Share
0.53
Income Quality
6.18
ROE
0.05
Return On Assets
0.01
Return On Capital Employed
0.06
Net Income per EBT
0.75
EBT Per Ebit
0.38
Ebit per Revenue
0.14
Effective Tax Rate
0.22

Margins

Sales, General, & Administrative to Revenue
0.3
Research & Developement to Revenue
0
Stock Based Compensation to Revenue
0.01
Gross Profit Margin
0.39
Operating Profit Margin
0.14
Pretax Profit Margin
0.05
Net Profit Margin
0.04

Dividends

Dividend Yield
0.07
Dividend Yield %
6.94
Payout Ratio
1.88
Dividend Per Share
1.53

Operating Metrics

Operating Cashflow per Share
3.35
Free CashFlow per Share
0.69
Capex to Operating CashFlow
0.79
Capex to Revenue
0.2
Capex to Depreciation
0.98
Return on Invested Capital
0.05
Return on Tangible Assets
0.03
Days Sales Outstanding
74.24
Days Payables Outstanding
29.92
Days of Inventory on Hand
15.89
Receivables Turnover
4.92
Payables Turnover
12.2
Inventory Turnover
22.97
Capex per Share
2.65

Balance Sheet

Cash per Share
0,63
Book Value per Share
11,50
Tangible Book Value per Share
-9.33
Shareholders Equity per Share
10.67
Interest Debt per Share
18.99
Debt to Equity
1.69
Debt to Assets
0.47
Net Debt to EBITDA
4.22
Current Ratio
0.66
Tangible Asset Value
-13,83 Bil.
Net Current Asset Value
-33,85 Bil.
Invested Capital
44829000000
Working Capital
-3,27 Bil.
Intangibles to Total Assets
0.54
Average Receivables
4,05 Bil.
Average Payables
0,98 Bil.
Average Inventory
534500000
Debt to Market Cap
0.81

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

TELUS Corporation Dividends
Year Dividends Growth
1995 1
1996 1 0%
1997 1 0%
1998 1 0%
1999 1 0%
2000 1 0%
2001 1 0%
2002 1 0%
2003 1 0%
2004 1 0%
2005 1 0%
2006 1 100%
2007 2 0%
2008 2 0%
2009 2 0%
2010 2 50%
2011 2 0%
2012 2 0%
2013 2 -100%
2014 2 0%
2015 2 0%
2016 2 0%
2017 2 0%
2018 2 50%
2019 2 0%
2020 1 -100%
2021 1 0%
2022 1 0%
2023 1 0%
2024 1 0%

TELUS Corporation Profile

About TELUS Corporation

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services. The Digitally-Led Customer Experiences segment provides digital customer experience and digital-enablement transformation solutions, including artificial intelligence and content management solutions. It has 16.9 million subscriber connections, which include 9.3 million mobile phone subscribers; 2.1 million connected device subscribers; 2.3 million internet subscribers; 1.1 million residential voice subscribers; 1.3 million TV subscribers; and 804,000 security subscribers. The company was formerly known as TELUS Communications Inc. and changed its name to TELUS Corporation in February 2005. TELUS Corporation was incorporated in 1998 and is headquartered in Vancouver, Canada.

CEO
Mr. Darren Entwistle B.A., LL
Employee
106.400
Address
510 West Georgia Street
Vancouver, V6B 0M3

TELUS Corporation Executives & BODs

TELUS Corporation Executives & BODs
# Name Age
1 Ms. Zainul Mawji
EVice President & President of Telus Consumer Solutions
70
2 Mr. Darren Entwistle B.A., LL.D., M.B.A.
President, Chief Executive Officer & Director
70
3 Mr. Francois Cote
Executive Vice President
70
4 Mr. Douglas French
Executive Vice President & Chief Financial Officer
70
5 Robert Mitchell
Head of Investor Relations
70
6 Mr. Tony Geheran
Chief Operating Officer & EVice President
70
7 Mr. Navin Arora
Executive Vice President & President of Business Solutions
70
8 Ms. Andrea Louise Wood LLB LLM
Executive Vice President and Chief Legal & Governance Officer
70
9 Ms. Jill Schnarr
Chief Communications & Brand Officer
70
10 Ms. Sandy McIntosh
Executive Vice President of People & Culture and Chief Human Resources Officer
70

TELUS Corporation Competitors

BCE Inc. Logo
BCE Inc.

BCE.TO

(2.5)
Fortis Inc. Logo
Fortis Inc.

FTS.TO

(3.2)
Enbridge Inc. Logo
Enbridge Inc.

ENB.TO

(2.0)