Enbridge Stock Price, News & Analysis

On November 4, 2020, Enbridge Inc. (NYSE: ENB) announced a quarterly dividend of $0.81 per common share, payable on December 1, 2020, to shareholders of record on November 13, 2020. This dividend amount remains consistent with the previous quarterly payment made on September 1, 2020. Additionally, Enbridge declared dividends for its preferred shares, with varying amounts payable on December 1, 2020. The company, a prominent North American energy infrastructure provider, delivers crucial energy resources across various sectors.

Enbridge Inc. will host a conference call and webcast on November 6, 2020, at 7:00 a.m. MT to discuss its 2020 third quarter results. The company plans to announce its earnings before the market opens on the same day. The event will include remarks from the executive team followed by a Q&A session for analysts and investors. Participants can access the call via a dial-in number or by signing up for the webcast. A replay will be available for seven days post-call. Enbridge is a major North American energy infrastructure provider.

Enbridge (ENB) has received authorization from the Pipeline and Hazardous Materials Safety Administration to restart the east segment of Line 5 in the Straits of Mackinac. This decision, praised by Enbridge's President of Liquids Pipelines, Vern Yu, is expected to benefit residents and businesses in Michigan and the Great Lakes region who depend on energy from Line 5. Following safety inspections, PHMSA found no integrity issues, allowing the east segment to resume operations. Line 5 has operated safely for over 65 years, and Enbridge emphasizes its commitment to environmental protection.

Enbridge announced that no outstanding Cumulative Redeemable Preference Shares, Series 15, will convert into Series 16 Shares on September 1, 2020. Less than 1,000,000 Series 15 Shares were tendered for conversion by the August 17 deadline, failing the required threshold for conversion. Enbridge, a North American energy infrastructure leader, manages significant operations in Liquids Pipelines, Gas Transmission, and Renewable Power Generation.

Enbridge Inc. announced it will not redeem its Cumulative Redeemable Preference Shares, Series 15, on September 1, 2020. Shareholders can convert these into Series 16 Shares on a one-for-one basis. If fewer than 1,000,000 Series 15 Shares remain, they will automatically convert. The Series 15 Shares will have a fixed annual dividend rate of 2.983% from September 1, 2020, to September 1, 2025. Series 16 Shares will receive a floating dividend of 0.70861%, reset quarterly. The conversion period for shareholders runs from August 2, 2020, to August 17, 2020.

Enbridge reported second-quarter 2020 financial results with GAAP earnings of $1,647 million, or $0.82 per share, down from $1,736 million or $0.86 per share in 2019. Adjusted earnings decreased to $1,133 million ($0.56/share) from $1,349 million ($0.67/share). Cash provided by operations was $2,416 million, down from $2,494 million last year. Distributable cash flow rose to $2,437 million, up $127 million year-over-year. Enbridge reaffirmed its 2020 DCF per share guidance of $4.50 to $4.80, citing strength in gas transmission and new project developments despite COVID-19 impacts.

The Board of Directors of Enbridge has announced a quarterly dividend of $0.81 per common share, payable on September 1, 2020 to shareholders of record on August 14, 2020. This amount is consistent with the dividend declared on June 1, 2020. Additionally, the Board has declared dividends for various series of preferred shares, also payable on September 1, 2020. This announcement highlights Enbridge's commitment to returning value to shareholders while maintaining its financial stability in the energy infrastructure sector.

Enbridge Inc. will host a conference call and webcast on July 29, 2020, at 7:00 a.m. MT (9:00 a.m. ET) to provide a business update and review 2020 second quarter results. The results will be announced prior to market opening on the same day. The call will feature remarks from the executive team, followed by a Q&A session. Analysts and investors can participate via dial-in numbers provided in the release. A replay of the call will be available for seven days after its conclusion, along with a transcript on the company website.