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Enbridge, Inc - ENB STOCK NEWS

Welcome to our dedicated page for Enbridge news (Ticker: ENB), a resource for investors and traders seeking the latest updates and insights on Enbridge stock.

Enbridge Inc. (symbol: ENB) is a multinational pipeline and energy company headquartered in Calgary, Alberta, Canada. The company owns and operates an extensive network of pipelines that transport crude oil, natural gas, and natural gas liquids across Canada and the United States. Enbridge's core business revolves around its robust pipeline infrastructure, including the Canadian Mainline system, regional oil sands pipelines, and multiple natural gas pipelines.

The company also operates a regulated natural gas utility and is the proprietor of Canada's largest natural gas distribution company. Enbridge is diversifying its energy portfolio with investments in renewable energy projects, primarily focused on onshore and offshore wind projects. Notably, the company is involved in key renewable projects like the Fécamp Offshore Wind Farm in France, which was recently inaugurated and is capable of powering 770,000 homes.

Financially, Enbridge has demonstrated stability and growth. The company recently reported strong financial performance for Q1 2024, with high utilization across its systems and significant milestones such as the acquisition of The East Ohio Gas Company. Enbridge maintains a solid balance sheet and a history of predictable financial results, reaffirming its guidance for 2024.

Enbridge places a high priority on sustainability and community development. The company supports numerous environmental and community initiatives, including the Fueling Futures grants program. Enbridge is committed to achieving net-zero greenhouse gas emissions by 2050 and is investing in advanced technologies such as hydrogen, renewable natural gas, and carbon capture and storage.

Recent developments include the commencement of a binding open season for an expansion of the Gray Oak Pipeline, which could add up to 120,000 barrels per day of capacity. Enbridge is also progressing on several other projects aimed at enhancing its infrastructure and meeting rising energy demands. The company continues to be a pivotal player in the energy sector, driving both conventional and renewable energy innovations.

News

Gas Utility Acquisitions a 'Once-In-A-Generation Opportunity'

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Enbridge acquires trio of U.S. companies from Dominion Energy Inc., creating North America's largest natural gas utility franchise
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Enbridge Announces the Closing of CDN$4.6 Billion Common Equity Offering Inclusive of Underwriters'; Over-Allotment

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Enbridge Inc. closes CDN$4.6 billion common equity offering to finance acquisition of local distribution company gas utilities in the United States from Dominion Energy, Inc.
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Goats on the Go: A New Breed of Pipeline Patrols

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Enbridge employs goats to clear invasive plants on their natural gas pipeline system in BC, known as the Goat Grazing Project. Goats are effective grazers and can eat everything on a plant, helping to maintain an herb-dominated ecosystem. Enbridge is conducting research to assess the efficacy of this approach over time. This initiative showcases Enbridge's dedication to sustainable practices.
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Dominion Energy Advances Business Review; Announces Agreements to Sell Gas Distribution Companies to Enbridge

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Dominion Energy has announced the sale of its three natural gas distribution companies to Enbridge for $14.0 billion. The transactions will be completed by the end of 2024, pending regulatory approvals. The company expects to use 100% of the after-tax proceeds to retire debt. Dominion Energy plans to conclude its business review and announce a repositioned outlook in Q4 2023.
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Enbridge Announces CDN$4.0 Billion Bought-Deal Offering of Common Shares

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Enbridge Inc. announces a bought deal offering of 89,490,000 common shares for aggregate gross proceeds of CDN$4 billion. The net proceeds will be used to finance the purchase of local distribution company gas utilities in the United States. The offering is expected to close on or about September 8, 2023.
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Enbridge Announces Strategic Acquisition of Three U.S. Based Utilities to Create Largest Natural Gas Utility Franchise in North America

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Enbridge has entered into agreements to acquire The East Ohio Gas Company, Questar Gas Company, and Public Service Company of North Carolina for a total purchase price of US$14.0 billion. The acquisitions will create North America's largest natural gas utility platform, delivering to 7 million customers. The deal is expected to be accretive to distributable cash flow per share and adjusted earnings per share in the first year of ownership. Enbridge's financial guidance and dividend growth profile are strengthened.
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Proudly Serving Those Who Have Served

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Enbridge supports MISSION UNITED program for Veterans in Suwannee Valley with funding of $7,500 in 2021, $7,500 in 2022, and $5,000 in 2023.
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Keeping Teams Safe Everyday: Employee and Contractor Safety at Enbridge

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Enbridge reports a 23% improvement in employee and contractor injuries over a three-year average, moving closer to the goal of zero injuries. Safety management and environment programs were reviewed and improved. Safety and reliability practices are integrated into contracts and due diligence processes for acquisitions. Enbridge maintains strong safety standards in 2022, remaining at record lows.
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Advancing Reconciliation Through Education

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New Buffalo Education Circle aims to support Indigenous students in business and STEM fields through student-led chapters at post-secondary institutions. Seed funding of $50,000 over two years was provided by Enbridge. The organization plans to expand across Alberta and into other provinces. They also intend to expand programming into elementary and high schools to attract more Indigenous students to underrepresented fields. Providing a sense of community and belonging for Indigenous students is crucial for their success.
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Investing in Biodiversity and Conservation at Enbridge

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Enbridge invests in biodiversity and conservation efforts, integrating environmental protection into its business operations. They work with local and Indigenous communities and implement environmental protection programs. Enbridge is monitoring global biodiversity frameworks and plans to report outcomes in their next Sustainability Report. They also balance renewable energy with landscape restoration. Water usage is primarily for hydrostatic testing, with the majority of water used returned to the environment. Enbridge conducts water risk assessments and uses risk mapping tools to assess potential impacts. They prioritize zero spills or leaks and work to prevent off-property spills and leaks near watercourses and sensitive areas.
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FAQ

What is the current stock price of Enbridge (ENB)?

The current stock price of Enbridge (ENB) is $42.18 as of November 15, 2024.

What is the market cap of Enbridge (ENB)?

The market cap of Enbridge (ENB) is approximately 91.8B.

What does Enbridge Inc. do?

Enbridge Inc. is a multinational pipeline and energy company that owns and operates pipelines transporting crude oil, natural gas, and natural gas liquids across Canada and the United States.

Where is Enbridge Inc. headquartered?

Enbridge Inc. is headquartered in Calgary, Alberta, Canada.

What are Enbridge’s recent achievements?

Recent achievements include the inauguration of the Fécamp Offshore Wind Farm in France and strong financial performance in Q1 2024. The company also acquired The East Ohio Gas Company and is working on expanding the Gray Oak Pipeline.

What sustainability initiatives does Enbridge support?

Enbridge supports numerous sustainability initiatives, including the Fueling Futures grants program and projects aimed at achieving net-zero greenhouse gas emissions by 2050. The company also invests in renewable energy technologies like hydrogen and carbon capture and storage.

What is the significance of Enbridge's pipeline network?

Enbridge's pipeline network is crucial for transporting hydrocarbons across North America, ensuring the reliable delivery of energy. This includes the Canadian Mainline system and various regional oil sands and natural gas pipelines.

Does Enbridge operate in renewable energy?

Yes, Enbridge has a growing portfolio of renewable energy projects, primarily focused on onshore and offshore wind projects. The company is a significant player in the energy transition towards more sustainable energy sources.

How financially stable is Enbridge?

Enbridge has a history of predictable financial performance, with solid quarterly results and strategic acquisitions that enhance its financial stability. The company reaffirmed its financial guidance for 2024 and maintains a strong balance sheet.

What is Enbridge’s approach to community development?

Enbridge is committed to community development through initiatives like the Fueling Futures grants, which support local environmental and community projects. The company engages in programs that enhance community well-being and environmental sustainability.

What recent projects has Enbridge announced?

Recent projects include the Gray Oak Pipeline expansion, various Gulf Coast infrastructure enhancements, and ongoing development of renewable energy projects like offshore wind farms in Europe.

What is Enbridge’s long-term vision?

Enbridge aims to be a leading energy delivery company, providing secure, sustainable, and affordable energy. The company is focused on achieving net-zero greenhouse gas emissions by 2050 and expanding its investments in renewable energy and modern energy delivery infrastructure.

Stock ENB logo
Enbridge, Inc

NYSE:ENB

ENB Rankings

#137 Ranked by Market Cap
#262 Ranked by Dividends

ENB Stock Data

91.84B
2.18B
0.1%
54.74%
1.13%
Oil & Gas Midstream
Pipe Lines (no Natural Gas)
Link
United States of America
CALGARY