Enbridge Stock Price, News & Analysis

Enbridge (ENB) reported strong financial results for 2024, with full-year adjusted earnings of $6.0 billion ($2.80 per share), up from $5.7 billion ($2.79 per share) in 2023. The company achieved record EBITDA of $18.6 billion, a 13% increase from 2023, and distributable cash flow of $12.0 billion, up 6% year-over-year.

Key highlights include completing a $19 billion acquisition of three U.S. gas utilities, increasing the quarterly dividend by 3% to $0.9425 per share (marking the 30th consecutive annual increase), and placing $5 billion of organic projects into service. The company sanctioned $8 billion of new projects during 2024.

Mainline volumes averaged 3.1 million barrels per day in 2024. The company reaffirmed its 2025 financial guidance with adjusted EBITDA expected between $19.4-20.0 billion and DCF per share between $5.50-5.90.

Enbridge (TSX: ENB) (NYSE: ENB) announced it will not redeem its Series 11 Preferred Shares on March 1, 2025. Holders of Series 11 Shares can convert their shares one-for-one into Series 12 Shares, subject to certain conditions. Currently, there are 20,000,000 Series 11 Shares outstanding.

For Series 11 Shares remaining after March 1, 2025, holders will receive quarterly fixed cumulative preferential cash dividends at a new annual rate of 5.477% for the period from March 1, 2025, to March 1, 2030. This rate equals the five-year Government of Canada bond yield of 2.837% plus 2.64%.

For any Series 12 Shares issued, holders will receive quarterly floating rate cumulative preferential cash dividends. The initial rate for March 1, 2025, to June 1, 2025, will be 1.41151%, based on three-month Government of Canada treasury bills plus 2.64%.

Flyscan Systems announced that Kinder Morgan (NYSE: KMI) has joined its strategic investor group, which includes Marathon Petroleum, Enbridge, and Hatch. The investment will support Flyscan's growth and accelerate its entry into the Natural Gas detection and quantification market.

Flyscan, founded in 2015 as a spin-off from Canada's National Optics Institute, is pioneering technology for pipeline leak detection and right-of-way damage prevention. The company utilizes remote sensing and artificial intelligence to detect liquid hydrocarbons and automate visual inspection from regulatory patrol planes.

KMI's COO James Holland emphasized the state-of-the-art nature of Flyscan's technologies and their importance in protecting employees, the environment, and communities. The partnership aims to leverage KMI's strategic footprint across multiple fuel types and extensive presence in the US market.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) has announced it will host a conference call and webcast on February 14, 2025, at 7 a.m. MT (9 a.m. ET) to discuss its 2024 fourth quarter results and provide a business update. The company will release its financial results before markets open on the same day.

The conference call will include prepared remarks from the executive team, followed by a Q&A session exclusively for analysts and investors. The event will be accessible via webcast and dial-in options, with North American toll-free access at 1-800-606-3040 and international access at 1-646-307-1689 (Conference ID: 9581867). A webcast replay and transcript will be made available on Enbridge's website after the event.

EDF Renewables North America and Enbridge Inc (TSX: ENB) (NYSE: ENB) announced that the Amazon Solar Farm Ohio - Fox Squirrel Solar project achieved full operational status in December 2024. The ground-mounted solar facility, with a total capacity of 577 MWac/749 MWdc, is one of the largest utility-scale solar developments east of the Mississippi River.

The project, located in Madison County, features 1.4 million panels and 159 inverters, making it EDF Renewables' largest onshore renewable energy project in North America. During peak construction, approximately 650 workers installed about 10,000 panels daily, totaling nearly 1.5 million work hours. The project was completed in three phases between December 2023 and December 2024.

The full generation capacity will be delivered to Amazon through power purchase agreements, supporting Amazon's Climate Pledge commitment and Ohio's economic growth goals.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) has announced the appointment of Douglas L. Foshee as a Director, effective January 1, 2025. Foshee brings over 40 years of energy industry experience to the board, having served as Chair, President and CEO of El Paso (2003-2012), CFO and COO of Halliburton Company (2001-2003), and Chair, President and CEO of Nuevo Energy (1996-2001). Board Chair Pamela Carter welcomed Foshee, highlighting his extensive energy industry and business experience as valuable additions to the board.

Enbridge (ENB) announced its 2025 financial guidance and a 3% dividend increase, raising the quarterly dividend to $0.9425 per share ($3.77 annualized) effective March 1, 2025. The company expects 2025 adjusted EBITDA of $19.4-20.0 billion and distributable cash flow (DCF) per share of $5.50-5.90.

The company reaffirmed its 2024 guidance, expecting to finish near the top end of EBITDA range ($17.7-18.3 billion). For 2023-2026, Enbridge maintains its growth outlook of 7-9% for EBITDA, 4-6% for adjusted EPS, and approximately 3% for DCF per share. The company plans to deploy $7 billion in capital investments for 2025.

Enbridge (ENB) has announced a 3% increase in its quarterly dividend, raising it to $0.9425 per common share. The dividend is payable on March 1, 2025, to shareholders of record on February 14, 2025. This marks the thirtieth consecutive year of dividend increases for the company. The announcement includes dividend declarations for multiple series of preference shares, all payable on the same date.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) announced that no conversion of its outstanding Cumulative Redeemable Preference Shares, Series 9 into Series 10 Shares will occur on December 1, 2024. This decision comes after receiving insufficient conversion notices from Series 9 shareholders, with less than the required 1,000,000 shares being tendered for conversion by the November 18, 2024 deadline.