Enbridge, Inc - ENB STOCK NEWS

Enbridge, along with EDF Renewables and wpd, has commenced construction on the Calvados offshore wind farm, a 448-MW project off the Normandy coast. The €2 billion project will generate enough electricity for 630,000 people upon its 2024 commissioning. Financing agreements are finalized, and construction is projected to create over 1,000 jobs. Siemens Gamesa will supply the wind turbines, and RTE will connect the farm to the electricity grid. This green energy initiative is supported by a 20-year power purchase agreement with the French government, reflecting a significant investment in renewable energy.

Enbridge Inc. has filed its Form 10-K and audited Consolidated Financial Statements for the year ended December 31, 2020, with U.S. and Canadian regulatory authorities. The filings are accessible on the SEC and SEDAR websites, along with Enbridge's website. The company will also mail its Notice of Annual Meeting and Management Information Circular to shareholders by the end of March 2021. The virtual Annual Meeting of Shareholders is scheduled for May 5, 2021, at 1:30 p.m. MDT.

Enbridge operates critical energy infrastructure, delivering a significant portion of North America's crude oil and natural gas.

Enbridge reported strong full-year 2020 results, with GAAP earnings of $3.0 billion ($1.48/share), down from $5.3 billion ($2.64/share) in 2019. Adjusted earnings fell to $4.9 billion ($2.42/share) from $5.3 billion ($2.65/share). Distributable Cash Flow (DCF) was $9.4 billion, exceeding the 2020 guidance midpoint. The company reaffirmed its 2021 DCF guidance of $4.70 to $5.00/share and increased its dividend by 3%, marking 26 consecutive annual increases. Enbridge also targets a 35% reduction in energy intensity by 2030 and net-zero emissions by 2050.

The Michigan Department of Environment Great Lakes and Energy has granted permits for Enbridge's Great Lakes Tunnel Project, part of the Line 5 pipeline relocation in the Straits of Mackinac. This project aims to enhance the safety of the pipeline, which provides energy to Michigan and neighboring regions. Despite the approval, Enbridge faces ongoing challenges from Governor Whitmer, who seeks to shut down Line 5's operations in federal court, a move that could lead to energy shortages. Enbridge plans to invest approximately $500 million in the tunnel construction.

Enbridge Inc. announced that CEO Al Monaco will present at the CIBC Western Virtual Conference on January 21, 2021. A replay of the fireside chat will be available on Enbridge's website under the Events and Presentations section. Enbridge is a major North American energy infrastructure company, handling about 25% of North America's crude oil and 20% of natural gas consumed in the U.S. It serves approximately 3.8 million customers in Ontario and Quebec, and generates 1,750 MW of renewable power.

Enbridge Inc. will host a conference call and webcast on February 12, 2021, at 7:00 a.m. MT (9:00 a.m. ET) to discuss its 2020 fourth quarter and full-year results. The call will feature prepared remarks from the executive team, followed by a Q&A session. Financial results will be announced before the market opens on the same day. Participants can join via a toll-free number or through a webcast. A replay will be available shortly after the event. Enbridge is a major North American energy infrastructure company, trading under the symbol ENB.

Enbridge responds to Michigan Governor Gretchen Whitmer's attempt to revoke the 1953 easement for Line 5 pipelines, stating the action is unlawful. The pipelines transport crucial fuel to Michigan and surrounding areas. Enbridge asserts compliance with federal safety standards, citing approvals from the Pipeline and Hazardous Materials Safety Administration (PHMSA). The company seeks dismissal of the state's claims in court, emphasizing the importance of federal jurisdiction over pipeline safety. Enbridge remains committed to ongoing operations until the completion of the Great Lakes Tunnel project.

Enbridge announced its 2021 financial outlook, projecting a distributable cash flow (DCF) per share of $4.70 to $5.00 and EBITDA of $13.9 to $14.3 billion. The company reaffirmed a long-term DCF growth outlook of 5-7% and declared a 3% increase in its quarterly dividend to $0.835, effective March 1, 2021. Key updates include the commencement of the Line 3 Replacement project and completion of the Atlantic Bridge project, which enhances gas supply to New England. Enbridge is committed to maintaining safe operations and sustainable growth while prioritizing shareholder returns.

Enbridge Inc. (ENB) declared a quarterly dividend of $0.835 per common share, marking a three percent increase from the previous rate. The dividend will be payable on March 1, 2021, to shareholders of record on February 12, 2021. This announcement highlights the company’s commitment to returning value to its shareholders, as it represents the twenty-sixth consecutive year of dividend increases.