Enbridge Stock Price, News & Analysis

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.

Enbridge announced it will not redeem its Series 9 Preferred Shares on December 1, 2024. Holders can convert their Series 9 Shares to Series 10 Shares one-for-one, subject to minimum holding conditions. The new annual dividend rate for Series 9 Shares will be 5.672% for the period from December 1, 2024, to December 1, 2029. For Series 10 Shares, the dividend rate will be 1.55342% for the first quarter, based on treasury bills plus 2.66%. The conversion period runs from November 1 to November 18, 2024.

Enbridge reported strong Q3 2024 financial results with GAAP earnings of $1.3 billion ($0.59 per share), up from $0.5 billion in 2023. Adjusted EBITDA increased 8% to $4.2 billion. The company closed key acquisitions including Public Service Company of North Carolina for US$3.2 billion and sanctioned new projects including the US$1.1 billion Sequoia Solar project. Enbridge reaffirmed its 2024 guidance, expecting to finish near the top end of EBITDA range ($17.7-18.3 billion) and around midpoint for DCF per share. The company maintains strong asset utilization with Mainline volumes exceeding 3 million barrels per day in 2024.

Enbridge (TSX: ENB) (NYSE: ENB) has declared its quarterly dividend payments. The common share dividend remains steady at $0.9150 per share, payable on December 1, 2024, to shareholders of record on November 15, 2024. This amount matches the September 1, 2024 dividend. The Board also declared quarterly dividends for multiple series of Preference Shares, all payable on the same date. Enbridge continues its role in connecting millions to energy through its North American natural gas, oil, and renewable power networks, along with its European offshore wind portfolio.

The National Centre for Truth and Reconciliation (NCTR) in Winnipeg is supporting Truth and Reconciliation Week from Sept. 23 to 27, 2024, followed by the National Day for Truth and Reconciliation on Sept. 30. The NCTR, evolved from the Truth and Reconciliation Commission of Canada, aims to preserve the history of residential schools and promote reconciliation.

Kaila Johnston, the centre's director of education and public programming, emphasizes the importance of education in combating denialism and preventing the repetition of past injustices. The NCTR will offer educational sessions for adults and students, covering topics such as the impacts of residential schools, unconscious bias, and barriers to reconciliation.

Enbridge has provided a $50,000 Fueling Futures grant to support the NCTR's Truth and Reconciliation Week events, focusing on making education sessions more accessible across Canada. This aligns with Enbridge's Indigenous Reconciliation Action Plan and commitment to strengthening relationships with Indigenous communities.