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.
On November 4, 2020, Enbridge Inc. (NYSE: ENB) announced a quarterly dividend of $0.81 per common share, payable on December 1, 2020, to shareholders of record on November 13, 2020. This dividend amount remains consistent with the previous quarterly payment made on September 1, 2020. Additionally, Enbridge declared dividends for its preferred shares, with varying amounts payable on December 1, 2020. The company, a prominent North American energy infrastructure provider, delivers crucial energy resources across various sectors.
Enbridge Inc. will host a conference call and webcast on November 6, 2020, at 7:00 a.m. MT to discuss its 2020 third quarter results. The company plans to announce its earnings before the market opens on the same day. The event will include remarks from the executive team followed by a Q&A session for analysts and investors. Participants can access the call via a dial-in number or by signing up for the webcast. A replay will be available for seven days post-call. Enbridge is a major North American energy infrastructure provider.
Enbridge (ENB) has received authorization from the Pipeline and Hazardous Materials Safety Administration to restart the east segment of Line 5 in the Straits of Mackinac. This decision, praised by Enbridge's President of Liquids Pipelines, Vern Yu, is expected to benefit residents and businesses in Michigan and the Great Lakes region who depend on energy from Line 5. Following safety inspections, PHMSA found no integrity issues, allowing the east segment to resume operations. Line 5 has operated safely for over 65 years, and Enbridge emphasizes its commitment to environmental protection.
Enbridge announced that no outstanding Cumulative Redeemable Preference Shares, Series 15, will convert into Series 16 Shares on September 1, 2020. Less than 1,000,000 Series 15 Shares were tendered for conversion by the August 17 deadline, failing the required threshold for conversion. Enbridge, a North American energy infrastructure leader, manages significant operations in Liquids Pipelines, Gas Transmission, and Renewable Power Generation.
Enbridge Inc. announced it will not redeem its Cumulative Redeemable Preference Shares, Series 15, on September 1, 2020. Shareholders can convert these into Series 16 Shares on a one-for-one basis. If fewer than 1,000,000 Series 15 Shares remain, they will automatically convert. The Series 15 Shares will have a fixed annual dividend rate of 2.983% from September 1, 2020, to September 1, 2025. Series 16 Shares will receive a floating dividend of 0.70861%, reset quarterly. The conversion period for shareholders runs from August 2, 2020, to August 17, 2020.
Enbridge reported second-quarter 2020 financial results with GAAP earnings of $1,647 million, or $0.82 per share, down from $1,736 million or $0.86 per share in 2019. Adjusted earnings decreased to $1,133 million ($0.56/share) from $1,349 million ($0.67/share). Cash provided by operations was $2,416 million, down from $2,494 million last year. Distributable cash flow rose to $2,437 million, up $127 million year-over-year. Enbridge reaffirmed its 2020 DCF per share guidance of $4.50 to $4.80, citing strength in gas transmission and new project developments despite COVID-19 impacts.
The Board of Directors of Enbridge has announced a quarterly dividend of $0.81 per common share, payable on September 1, 2020 to shareholders of record on August 14, 2020. This amount is consistent with the dividend declared on June 1, 2020. Additionally, the Board has declared dividends for various series of preferred shares, also payable on September 1, 2020. This announcement highlights Enbridge's commitment to returning value to shareholders while maintaining its financial stability in the energy infrastructure sector.
Enbridge Inc. will host a conference call and webcast on July 29, 2020, at 7:00 a.m. MT (9:00 a.m. ET) to provide a business update and review 2020 second quarter results. The results will be announced prior to market opening on the same day. The call will feature remarks from the executive team, followed by a Q&A session. Analysts and investors can participate via dial-in numbers provided in the release. A replay of the call will be available for seven days after its conclusion, along with a transcript on the company website.
Enbridge Inc. announced on July 2, 2020, that Algonquin Gas Transmission, LLC received approval from the Federal Energy Regulatory Commission (FERC) for its uncontested rate settlement with customers. This settlement resolves all issues in Docket No. RP19-57-000 and terminates the FERC Form No. 501-G proceeding. Algonquin, a key natural gas pipeline owned by Enbridge, is vital for energy supply to New England and connects with other Enbridge pipelines. Enbridge is a leading North American energy infrastructure company, crucial for liquid and gas transportation.
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