Enbridge, Inc - ENB STOCK NEWS

Enbridge CEO, Greg Ebel, emphasized the growing global demand for Canadian liquefied natural gas (LNG) during a panel discussion in Ottawa. With countries like Germany, Japan, and South Korea seeking alternatives to Russian energy, Canada's role is crucial. Ebel highlighted the need for energy security, noting that 733 million people lack electricity access. He argued that Canadian LNG can reduce global emissions, thanks to its hydroelectric power, efficient production, and shorter shipping routes. However, challenges remain, particularly with Canada's regulatory framework, which must be reformed to attract investment and expedite project development.

Enbridge has strengthened its commitment to community support by donating $15,000 to Women Aware, a leading domestic violence services agency in New Jersey. The funding supports the organization’s goals for 2023, which include sheltering 215 women and children, answering 6,000 hotline calls, and providing non-residential services to 1,800 victims. In the past year, Women Aware helped a record 278 individuals. The organization has adapted services, including a hotel placement program during the pandemic, ensuring they remain operational. Enbridge's contributions also include a $5,000 grant for the Moving Beyond Abuse charity walk.

Enbridge has sponsored the Feed The City Tour in Michigan, providing $50,000 to Bridge The Gap to serve free meals and foster community relations. The initiative, which promotes positive engagement between law enforcement and residents, has grown significantly since its inception, with numerous cuisines offered to attendees. Highlighting past events in Saginaw, Bay City, and Midland, the tour aims to enhance community ties. The program's success is reflected in its increasing attendance, and plans for a 2023 edition are underway.

Enbridge Inc. announced that none of its outstanding Cumulative Redeemable Preference Shares, Series D (Series D Shares) will convert into Series E Shares on March 1, 2023. The company received conversion notices from holders of Series D Shares, but fewer than the 1,000,000 Series D Shares needed for the conversion were tendered by the deadline of February 14, 2023. Enbridge continues to focus on connecting people to energy safely while investing in renewable energy technologies and aiming for net-zero greenhouse gas emissions by 2050.

Enbridge Inc. will host its annual investor conference on March 1, 2023, at 8:30 a.m. ET. The event will focus on the company's strategic plan, business unit priorities, and financial outlook. The conference will be accessible via live webcast on Enbridge's official website. Key details include:

• Date: March 1, 2023
• Time: 8:30 a.m. ET (6:30 a.m. MT) to 12:00 p.m. ET (10:00 a.m. MT)

Supporting materials will be available online on the event day, and a replay of the webcast will be accessible from March 2, 2023. Enbridge is committed to advancing renewable energy and achieving net zero greenhouse gas emissions by 2050.

Enbridge recently supported the Dr. Martin Luther King, Jr. Community Center in Newport, RI, with a $7,500 Fueling Futures grant. This non-profit, which has served the community since 1922, provides essential programs like hunger relief, education, and wellness. In 2022, it assisted nearly 6,000 individuals, many of whom are from BIPOC backgrounds. The center's hunger services include a daily hot breakfast and the country's largest food pantry, distributing over 85,000 pounds of produce and 657,240 meals last year. With increasing client numbers due to economic challenges, the MLK Center aims to meet growing community needs with dignity and respect.

On February 10, 2023, Enbridge Inc. filed its Form 10-K for the year ending December 31, 2022, with the U.S. Securities and Exchange Commission. The company also submitted its audited Consolidated Financial Statements and Management's Discussion and Analysis to Canadian securities authorities. These documents can be accessed via the SEC and Sedar websites, or directly from the company's website. Additionally, Enbridge announced its Annual Meeting of Shareholders will take place virtually on May 3, 2023, at 1:30 p.m. MDT.

Enbridge reported strong fourth-quarter and full-year 2022 results, with GAAP earnings of $2.6 billion ($1.28 per share), down from $5.8 billion ($2.87 per share) in 2021. Adjusted earnings rose to $5.7 billion ($2.81 per share), a minor increase from $5.6 billion ($2.74 per share) in the previous year. The company generated $11.2 billion in cash from operations, versus $9.3 billion in 2021. Enbridge reaffirmed its 2023 guidance for EBITDA between $15.9 billion and $16.5 billion, and increased its quarterly dividend by 3.2% to $0.8875. The company’s debt-to-EBITDA ratio stands at 4.7x, reflecting a strong financial position.

Enbridge CEO Greg Ebel has highlighted increasing demand for Canadian natural gas from international partners, particularly Japan and Germany. In a recent interview, Ebel emphasized the need for Canada to enhance its Liquefied Natural Gas (LNG) sector in response to these requests. He described the situation as 'to be determined,' indicating that while there is recognition of the obligation to supply, the approach to meeting this demand is still under discussion. This statement underscores the urgency to develop Canada's LNG capabilities amidst rising global interest.