Enbridge Energy to invest $3.4B in light oil market access program Enbridge Energy Partners announced its plans to invest in a Light Oil Market Access Program to expand access to markets for growing volumes of North Dakota and western Canada light oil production. The overall Program includes a number of individual projects, some of which will be jointly funded by the Partnership and Enbridge, and certain projects that will be funded entirely by the Partnership. Enbridge Partners' investment in the Program is expected to be approximately $3.4B. The joint funding arrangements between the Partnership and Enbridge provide Enbridge Partners with options to increase or decrease its investment in certain projects to match its funding capability.
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Enbridge Energy upgraded to Equal Weight from Underweight at Morgan Stanley Morgan Stanley upgraded Enbridge Energy to Equal Weight from Underweight based on an improved distribution growth outlook. Price target raised to $47 from $38.