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. operates North American energy infrastructure that includes liquids pipelines, natural gas transmission, gas distribution and storage, and renewable power assets. Company updates regularly address financial results, guidance, dividends on common and preferred shares, and capital allocation tied to its secured project backlog.
Recurring developments also cover capacity expansions and regulatory approvals across systems such as the Canadian Mainline, Westcoast natural gas pipeline system, Vector Pipeline and Dawn Hub storage. Enbridge also reports on utility rate cases, shareholder meeting results, annual disclosure documents, and energy-transition technologies including hydrogen, renewable natural gas and carbon capture and storage.
Enbridge Inc. (TSX: ENB) has declared a quarterly dividend of $0.8875 per common share, marking a 3.2% increase from the previous rate. This dividend is payable on March 1, 2023, to shareholders on record by February 15, 2023. This announcement signifies the twenty-eighth consecutive year of dividend increases, reflecting the company's commitment to returning value to shareholders. Preference shares also have designated dividends, ensuring a broad base of shareholder income.
Enbridge Inc. has finalized its partnership with Pacific Energy Corporation to invest in the Woodfibre LNG project in Squamish, B.C. Enbridge will hold a 30% stake while Pacific Energy retains 70%. The companies will contribute capital through asset financing and equity investments, with Enbridge receiving preferred equity for predictable cash flows. Preliminary construction has begun, and the project targets a Q4 2027 in-service date. The partnership underscores Enbridge's commitment to energy infrastructure and investment in liquefied natural gas.
EDF Renewables and Enbridge, alongside CPP Investments, have successfully launched France's first commercial-scale offshore wind project, the Saint-Nazaire Offshore Wind Farm, now fully operational with a capacity of 480 megawatts. This project is vital for France's energy transition, aiming for 32% of renewable energy by 2030. The wind farm will power 700,000 people and produce 20% of Loire-Atlantique's electricity annually. Construction involved 2,300 jobs and significant local industrial engagement, reinforcing France's offshore wind capabilities.
Enbridge reported strong Q3 2022 results, achieving GAAP earnings of $1.3 billion ($0.63 per share), up from $0.7 billion in Q3 2021, and adjusted earnings of $1.4 billion ($0.67 per share). Distributable cash flow (DCF) reached $2.5 billion ($1.24 per share), exceeding last year's figures. Notably, the company secured $3.8 billion in new growth projects, including a significant expansion of the B.C. Pipeline. Enbridge reaffirmed its 2022 guidance for adjusted EBITDA between $15.0 billion and $15.6 billion. The CEO highlighted confidence in future growth amidst volatile energy markets.
On November 4, 2022, Enbridge announced an open season for natural gas transportation service on its T-North segment of the B.C. Pipeline, targeting potential expansion of 500 million cubic feet per day. This expansion aims to meet rising regional demand and facilitate West Coast LNG exports, with an estimated capital cost up to CAD $1.9 billion. The open season will run from November 4, 2022, to January 10, 2023, contingent upon sufficient customer interest.
Enbridge Inc. has successfully completed an open season for increased transportation capacity on the T-South segment of its B.C. Pipeline, leading to a 300 MMcf/d expansion at a cost of up to CAD $3.6 billion. The project, supported by long-term contracts averaging 65 years, aims to meet growing energy demand with low-emission natural gas. The expansion is pending regulatory approvals, with a target in-service date set for 2028. Enbridge emphasizes the strategic importance of its B.C. natural gas system in delivering energy securely and sustainably.
Enbridge Inc. (ENB) announced a quarterly dividend of $0.860 per common share, payable on December 1, 2022, to shareholders of record as of November 15, 2022. This dividend remains unchanged from the previous declaration in September 2022. The company also declared dividends for various series of its preferred shares, all payable on the same date. This consistent dividend strategy reflects Enbridge's commitment to returning value to shareholders while maintaining financial stability.
Enbridge Inc. will hold a conference call and webcast to discuss its 2022 third quarter results on November 4, 2022, at 7:00 a.m. MT (9:00 a.m. ET). The company plans to announce its financial results before markets open on the same day. The call will include remarks from the executive team and a Q&A session exclusively for analysts and investors. A replay of the event will be available afterward on Enbridge's website. Enbridge trades under the symbol ENB on the TSX and NYSE.
Enbridge Inc. announced the retirement of President and CEO Al Monaco, effective January 1, 2023, after 27 years with the company. The Board appointed Greg Ebel, current Board Chair, as the new President and CEO. Ebel will continue as a Board member, while Monaco will serve as an advisor until March 1, 2023. Monaco highlighted significant achievements during his tenure, including a $37 billion merger and expansion into renewable energy. Ebel expressed enthusiasm for leading Enbridge into its next growth phase, focusing on energy transition and enhancing shareholder value.
Tri Global Energy (TGE), a top renewable energy developer in the U.S., has been acquired by Enbridge (TSX: ENB, NYSE: ENB), Canada’s largest energy company. For Q2 2022, TGE ranked 10th nationally for renewable energy development, 3rd for onshore wind, and 1st in Texas. Established in 2009, TGE has developed 8.7 GW across 37 projects in seven states, including Texas, Illinois, and Indiana. This acquisition is seen as a strategic move to enhance growth in the transition to a low-carbon economy.