Enbridge Stock Price, News & Analysis

Enbridge Inc. (TSX: ENB, NYSE: ENB) announced a decision from the Canada Energy Regulator (CER) regarding its commercial proposal for transportation contracting on its Mainline pipeline system, which transports 3 million barrels of liquids daily. This proposal, submitted in December 2019, received support from over 75% of Mainline shippers by volume. Enbridge is currently reviewing the CER's decision and will comment further after the review is complete.

Enbridge reported Q3 2021 financial results, highlighting GAAP earnings of $682 million ($0.34/share), down from $990 million ($0.49/share) in 2020. Adjusted earnings rose to $1.2 billion ($0.59/share), up from $1.0 billion ($0.48/share). EBITDA improved to $3.3 billion, while cash flow from operations was $2.2 billion. The company reaffirmed its full-year EBITDA guidance of $13.9 billion to $14.3 billion. Key developments included completion of the Line 3 Replacement Project and expansion of its Southern Access capacity, enhancing crude oil supply capabilities.

Enbridge Inc. announced the appointment of Gaurdie Banister and Jane Rowe as new directors, effective November 4, 2021. Banister brings over 40 years of energy sector experience and previously served as CEO of Aera Energy LLC. Rowe is Vice Chair of Investments at the Ontario Teachers' Pension Plan Board and has significant banking experience from her time at Scotiabank. The Board welcomes their expertise, expecting valuable contributions to the company.

The Board of Directors of Enbridge has declared a quarterly dividend of $0.835 per common share, set to be paid on December 1, 2021, to shareholders on record by November 15, 2021. This dividend aligns with the amount declared in September 2021. Additionally, several preferred share dividends were also announced, all scheduled for payment on the same date. Key amounts include $0.34375 for Preference Shares, Series A and US$0.30540 for Preference Shares, Series J. This consistent dividend signals the company’s commitment to returning value to shareholders.

Enbridge Inc. will host a conference call and webcast on November 5, 2021, at 7:00 a.m. MT (9:00 a.m. ET) to provide a business update and discuss its 2021 third quarter results.

The call will feature remarks from the executive team and a Q&A session for analysts and investors. Financial results will be announced before the markets open on the same day. Interested participants can join via dial-in or webcast, with links provided for registration.

Enbridge is a major North American energy infrastructure company with extensive operations in pipelines and renewable power generation.

Enbridge Inc. has announced the substantial completion of its Line 3 Replacement Project, set to begin operations on October 1. The 1,765-kilometre pipeline, which transports crude oil from Edmonton to Superior, will restore its capacity to 760,000 barrels per day. This project involved extensive community engagement and over 3,500 meetings. Additionally, Enbridge invested CDN$750 million in Indigenous communities, with over US$300 million going to Native-owned contractors. The completion ensures reliable energy supply for U.S. refineries.

Enbridge (NYSE: ENB) has partnered with Vanguard Renewables to purchase 2 billion cubic feet of renewable natural gas (RNG) annually. Vanguard will invest $200 million to build anaerobic digesters across the U.S. Enbridge will invest $100 million for RNG upgrading equipment. This initiative aims to recycle food waste and dairy manure into RNG, displacing approximately 110,000 metric tons of CO2 emissions yearly, equivalent to removing 25,000 fossil fuel cars from the road. The partnership targets decarbonization and supports regenerative agriculture.