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.
Enbridge has successfully closed a $750 million offering of 5.00% Fixed-to-Fixed Rate Subordinated Notes Series 2022-A, due January 19, 2082. The net proceeds will be utilized to redeem outstanding Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17, repay short-term debt, and support general corporate purposes. The offering was conducted through a syndicate led by RBC Capital Markets, BMO Capital Markets, and CIBC Capital Markets in Canada. The Notes are not registered in the U.S. and cannot be offered there.
Enbridge Inc. announced executive leadership changes effective March 1, 2022. Bill Yardley, President of Gas Transmission and Midstream, will retire on May 31, 2022. Cynthia Hansen, formerly President of Gas Distribution and Storage, will succeed Yardley. Michele Harradence will replace Hansen, and Vern Yu will expand his role to include Corporate Development. CEO Al Monaco highlighted the importance of internal talent development in these appointments, emphasizing the continued strength and focus on safety and reliability within the company.
Texas LNG Brownsville LLC, a subsidiary of Glenfarne Group, has signed a precedent agreement with Enbridge Inc. to enhance the Valley Crossing Pipeline, facilitating the delivery of 720 million cubic feet of natural gas daily to Texas LNG's export terminal in South Texas. This pipeline will operate for at least 20 years and will involve a 10-mile extension and added compression facilities. The facility aims to produce 4 million tonnes per annum of LNG, with commercial operations expected to start in 2026. The project emphasizes lower carbon emissions through the use of electric-powered compression.
Enbridge Inc. will host a conference call and webcast on Feb. 11, 2022, at 7:00 a.m. MT (9:00 a.m. ET) to discuss its fourth quarter and full-year 2021 financial results. The call will feature prepared remarks from the executive team and a Q&A session for analysts and investors. Financial results will be announced prior to market opening on the same day. A replay of the webcast and transcript will be available on Enbridge's website after the event. For more details, contact media at (888) 992-0997 or investors at (800) 481-2804.
Enbridge Inc. (TSX: ENB, NYSE: ENB) is considering a private placement offering of hybrid subordinated debt securities in Canada. The net proceeds are intended for redeeming Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17, repaying short-term debt, and general corporate purposes. The offering is subject to market conditions, and there is no guarantee it will be completed. This announcement does not serve as a notice of redemption or an offer to sell the securities. The debt securities have not been approved by any regulatory authority.
Enbridge Inc. announced approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB), allowing the company to repurchase up to 31,062,331 common shares, amounting to $1.5 billion. The NCIB is set to begin on January 5, 2022, and run until January 4, 2023, or until the maximum shares are acquired. The repurchase represents approximately 1.53% of outstanding shares as of December 22, 2021. The company aims to maintain a strong balance sheet while executing these buybacks, with purchases made at market prices.
Enbridge Inc. has successfully closed the sale of its 38.9% ownership stake in Noverco Inc. to Trencap L.P. for $1.14 billion in cash, as initially announced on June 7, 2021. The divestment aims to enhance Enbridge's financial flexibility, with proceeds allocated to repay short-term borrowings and support its secured capital program. The transaction aligns with Enbridge's strategic focus on energy infrastructure and operational efficiency. Trencap L.P. is managed by Caisse de dépôt et placement du Québec.
Enbridge (ENB) announced its 2022 financial guidance along with a 3% increase in its quarterly dividend to $0.86, marking the 27th consecutive annual increase. The 2022 EBITDA is projected between $15.0 billion and $15.6 billion, indicating a 9-10% growth from 2021. The company aims for an average annual DCF per share growth of 5-7% through 2024. Enbridge sanctioned $1.1 billion in new capital projects and intends to repurchase up to $1.5 billion of its shares under a normal course issuer bid. A partnership for carbon capture and sequestration in Alberta was also announced.
Enbridge Inc. (ENB) announced a quarterly dividend of $0.860 per common share, payable on March 1, 2022, with a record date of February 15, 2022. This marks a 3% increase from the previous dividend rate, continuing a trend of increasing dividends for the 27th consecutive year. In addition to common shares, dividends were also declared for various preference shares with amounts ranging from $0.15719 to US$0.37182. This increase reflects Enbridge's commitment to returning value to shareholders.
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