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, Svante, Cross River Infrastructure Partners, and OTS have formed an independent carbon capture partnership called Cross Carbon Ventures (CCV). This venture aims to develop carbon capture projects in North America for industries like cement, steelmaking, and petroleum refining. CCV will utilize Svante’s technology to capture CO2 emissions, providing a Carbon Capture-as-a-Service model. The initiative is set against the backdrop of global decarbonization targets, with Enbridge emphasizing its role in energy infrastructure critical for emissions reduction.
Enbridge reported Q2 2021 GAAP earnings of $1.4 billion ($0.69/share), down from $1.6 billion ($0.82/share) in 2020. Adjusted earnings rose to $1.4 billion ($0.67/share) from $1.1 billion ($0.56/share). Distributable Cash Flow (DCF) increased to $2.5 billion ($1.24/share), compared to $2.4 billion ($1.21/share) in 2020. The company reaffirmed its 2021 EBITDA guidance of $13.9-$14.3 billion. Progressing on major projects like the U.S. Line 3 Replacement and T-South Expansion, Enbridge is poised for significant growth through 2023, driven by strategic investments in renewable energy and modernization efforts.
Enbridge Inc. has appointed Mayank (Mike) Ashar to its Board of Directors, bringing over 30 years of energy industry experience. Previously, Ashar held key positions at Cairn Energy India Ltd. and Irving Oil Ltd., and currently serves as a director at Teck Resources Ltd.. The Board believes Ashar's extensive background will enhance its governance and strategic direction. Enbridge, a leader in North American energy infrastructure, manages substantial pipeline and storage operations, delivering critical energy sources across the continent.
The Board of Directors of Enbridge has declared a quarterly dividend of $0.835 per common share, payable on September 1, 2021, to shareholders of record on August 13, 2021. This dividend amount remains consistent with the previous dividend declared on June 1, 2021. Additionally, the board has announced several quarterly dividends for preferred shares, each also payable on September 1, 2021. These dividends range from $0.15753 to US$0.37182, depending on the series.
On July 30, 2021, Enbridge (ENB) will host a conference call and webcast at 7:00 a.m. MT (9:00 a.m. ET) to discuss its 2021 second quarter results. The financial results will be announced before markets open that day. The call format includes remarks from the executive team followed by a Q&A session for analysts and investors. Details for participation include a toll-free number for North America and an international dial-in option. A webcast replay and transcript will be available shortly after the event.
Enbridge Inc. (NYSE: ENB) announces the resignation of Gregory J. Goff from its Board of Directors, effective June 21, 2021. His resignation is not linked to any disagreements regarding the company's operations or policies. Enbridge expresses gratitude for Mr. Goff's service. The company is a major North American energy infrastructure provider, involved in Liquids Pipelines, Gas Transmission, Gas Distribution, and Renewable Power Generation, with its shares traded on the Toronto and New York stock exchanges.
Enbridge Inc. (NYSE: ENB) announced a favorable ruling from the Minnesota Court of Appeals regarding the Line 3 Replacement Project (L3RP). The court reaffirmed the Minnesota Public Utilities Commission's approval of the project’s environmental impact statement, certificate of need, and route permit. With over 60% of construction complete in Minnesota, L3RP is projected to be operational in Q4 2021. The project promises enhanced safety and significant economic benefits, including job creation and increased local revenues amidst rigorous regulatory scrutiny.
Enbridge Inc. announced plans to expand natural gas access in rural, northern, and Indigenous communities across Ontario in collaboration with the provincial government. Utilizing Ontario's Natural Gas Expansion Program, Enbridge will undertake 27 projects aimed at reducing energy costs significantly—up to 50% for households and 30% for businesses. This initiative supports local economies and jobs while contributing to lower greenhouse gas emissions. Enbridge emphasizes its commitment to renewable energy and improving natural gas emission intensity through sustainable practices.
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