Energy Biz Recap: Enbridge Could Be Hit With More FINES, Patriot Bankruptcy AFTERMATH

Tuesday should see the release of the Federal authorities’ findings concerning a crude oil spill from an Enbridge (NYSE:ENB) pipeline, which is said to have contaminated a Michigan river two years ago. Already, the firm has shelled out nearly $700 million for cleanup costs linked with the spill, and additional penalties or fines could be levied.

Don’t Miss: Is it Time to SELL Credit Card Stocks?

Ramifications, i.e. chatter, continue to absorb Wall Street from the Patriot bankruptcy on Monday. Curt Woodworth at Nomura says to ‘use the weakness to enhance the attractively-valued CONSOL (NYSE:CNX) and Alpha Natural (NYSE:ANR) shares’, but he stays bearish on Arch Coal (NYSE:ACI) and Neutral on Peabody (NYSE:BTU). At the same time, Raymond James recommends buying the present opportunity on Alpha Natural and Peabody.

Don’t Miss: Essential Earnings Reports You MUST Evaluate This Week.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.