How do they make money?

Enbridge is an "energy infrastructure" company best-known for its pipelines.

Headquartered in Calgary, Enbridge transports 6 million barrels of oil per day (mmbpd) across the US and Canada. Enbridge's North American network is the largest oil pipeline network in the world.

The company's natural gas transmission and distribution system is also one of the largest in North America.

The company makes money through:

• Liquids pipelines (including pipelines and terminals that transport oil and other "liquid hydrocarbons")

• Gas transmission (including gas pipelines and gas processing facilities in the US and Canada)

• Gas distribution and storage (including natural gas infrastructure for homes and businesses across the US and Canada)

• Renewable power generation (including wind, solar, and geothermal assets)

As of last quarter, 72.8% of the company's revenue comes from its liquids pipelines activity.

Interestingly, Enbridge isn't required to file Form 10-K annual reports with the IRS, but they choose to do so. Many other Canadian companies - even the largest ones I've previously analyzed on Flank - don't do so. Enbridge is, however, listed on both the TSX and NYSE.