Updating Canadian Midstream Fair Value Estimates for New Exchange Rates

After refreshing US/Canadian dollar exchange rates across our Canadian midstream models, we've made some very minor changes to our fair value estimates. For Enbridge, our Canadian-dollar-denominated fair value estimate falls to CAD 56 per share from CAD 57, while our USD 41 fair value estimate is unchanged. For Pembina Pipeline, our Canadian-dollar-denominated fair value estimate remains at CAD 55 per share, but our US-dollar-denominated fair value estimate increases to USD 41 per share from USD 40. For TC Energy, our Canadian-dollar-denominated fair value estimate of CAD 67 per share is unchanged, while our US-dollar-denominated fair value estimate increases to USD 50 per share from USD 48.