Enbridge Stock Price, News & Analysis

Enbridge responds to Michigan Governor Gretchen Whitmer's attempt to revoke the 1953 easement for Line 5 pipelines, stating the action is unlawful. The pipelines transport crucial fuel to Michigan and surrounding areas. Enbridge asserts compliance with federal safety standards, citing approvals from the Pipeline and Hazardous Materials Safety Administration (PHMSA). The company seeks dismissal of the state's claims in court, emphasizing the importance of federal jurisdiction over pipeline safety. Enbridge remains committed to ongoing operations until the completion of the Great Lakes Tunnel project.

Enbridge announced its 2021 financial outlook, projecting a distributable cash flow (DCF) per share of $4.70 to $5.00 and EBITDA of $13.9 to $14.3 billion. The company reaffirmed a long-term DCF growth outlook of 5-7% and declared a 3% increase in its quarterly dividend to $0.835, effective March 1, 2021. Key updates include the commencement of the Line 3 Replacement project and completion of the Atlantic Bridge project, which enhances gas supply to New England. Enbridge is committed to maintaining safe operations and sustainable growth while prioritizing shareholder returns.

Enbridge Inc. (ENB) declared a quarterly dividend of $0.835 per common share, marking a three percent increase from the previous rate. The dividend will be payable on March 1, 2021, to shareholders of record on February 12, 2021. This announcement highlights the company’s commitment to returning value to its shareholders, as it represents the twenty-sixth consecutive year of dividend increases.

The Line 3 Replacement Project by Enbridge has received all necessary permits to commence construction in Minnesota. This project is expected to enhance safety and economic stability in the region by creating 4,200 local construction jobs and generating significant local spending and tax revenues. Enbridge emphasizes its commitment to safety, implementing a robust COVID-19 management plan. The project aims to strengthen Minnesota's energy infrastructure while addressing environmental and community needs.

Enbridge Inc. will hold its annual investor conference on December 8, 2020, at 9:00 AM ET via virtual webcast. The event will focus on the company's strategic plan, business priorities, and financial outlook. Interested participants can listen live or register through the Events and Presentations page. Presentations and materials will be available on the website the morning of the event, with a replay accessible two hours post-event. Enbridge is a leading North American energy infrastructure company, trading under the ticker ENB.

The Minnesota Public Utilities Commission has authorized the construction of Enbridge's Line 3 Replacement Project, marking a significant step forward for the company. Currently, the only remaining permit needed is a storm water permit from the Minnesota Pollution Control Agency. Enbridge, a major North American energy infrastructure company, emphasizes the importance of this project in enhancing safety and reliability in energy transport, as it plays a crucial role in the delivery of crude oil and natural gas across North America.

On November 24, 2020, Enbridge filed a federal complaint in Michigan seeking an injunction to prevent the state from obstructing the operation of Line 5, asserting that such actions violate federal law. The company emphasizes that the federal Pipeline and Hazardous Materials Safety Administration, not the state, is responsible for pipeline safety oversight. Enbridge warns that shutting down Line 5 could lead to propane shortages and significant increases in energy prices, affecting several states and regional refineries.

The US Army Corps of Engineers has approved federal permits for Enbridge's Line 3 replacement project, including Section 404, Section 10, and Section 408 permits. This essential maintenance project aims to enhance safety and environmental protection while meeting Minnesota's energy needs. The construction is expected to create 4,200 local jobs and generate significant local economic benefits. While the project is closer to commencing construction, final state permits are still needed.

Enbridge affirms the safety of its Line 5 pipelines and rejects claims for terminating the 1953 Easement at the Straits of Mackinac. Following a notice from Michigan's Governor's legal counsel, Enbridge plans to review the Michigan Department of Natural Resources' (DNR) report. The company emphasizes Line 5's critical role in regional energy supply, serving Michigan and neighboring states. Enbridge is also pursuing a tunnel project to enhance safety for the pipeline, demonstrating a commitment to environmental protection while ensuring energy delivery.