Enbridge Stock Price, News & Analysis

VETLIFE, a Michigan-based non-profit, is launching the Battle Buddy app in September to connect Veterans with support services and benefits. The app, developed with a $27,000 contribution from Enbridge, uses a chatbot interface to help Veterans access resources more comfortably. It also aims to collect data on Native American Veterans, addressing inaccuracies in current statistics.

Founded by Iraq veteran Joshua Parish and his wife in 2018, VETLIFE has been supported by Enbridge since its early days. The Battle Buddy app is designed to automate services and bring resources directly to Veterans, helping them readjust to civilian life. The app's focus on Indigenous Veterans aligns with Enbridge's Indigenous Reconciliation Action Plan.

Empower Me Center, a non-profit in Lebanon, Tennessee, is dedicated to helping people with disabilities live fulfilling lives. Founded in 1999, it has grown from a basketball league to offering 17 year-round events and regular programming. The center is building a new state-of-the-art facility with accessible features for people with disabilities.

Enbridge has contributed a $7,500 Fueling Futures grant to support the center's inclusive programming. The center relies on community donations to keep costs low for participants, as they don't receive state or federal funding. Empower Me Center's mission is to meet the needs of families and help individuals with disabilities find their purpose and contribute meaningfully to society.

Enbridge has introduced a novel approach to vegetation management at its Sarnia Solar Project in Canada. The company has partnered with local sheep farmers to deploy a flock of about 270 Rideau Arcott sheep to graze on an 85-acre section of the solar property. This pilot program aims to provide several benefits, including:

1. Reduced risk of damage to solar panels from conventional mowing debris
2. Decreased fire hazard from motorized equipment
3. Effective grazing close to infrastructure
4. Potential elimination of pesticide use
5. Support for native flowering plant growth

The initiative aligns with Enbridge's ongoing efforts to preserve the ecosystem at the 1,100-acre site, which houses 1.3 million solar panels and generates 80 MW of electricity. Previous conservation efforts include preserving endangered plants, restoring woodlands and wetlands, and introducing honeybee colonies as part of a pollinator program.

The Great Lakes Boat Building School (GLBBS) in Cedarville, Michigan, is keeping the tradition of wooden boat building alive. Located in a 'wood-boat mecca', the school trains students in the craft of wooden boat construction and marine service technology. With a nearly 100% placement rate over the past seven years, GLBBS graduates find jobs across the U.S. and even internationally.

The school faces challenges in keeping up with expensive equipment needs. Enbridge has supported GLBBS with a $15,000 Fueling Futures grant to help purchase a 150-horsepower engine, contributing to a larger $750,000 campaign for learning equipment. This support helps maintain the school's competitive edge in training students on the latest industry technology.

Enbridge has announced plans to build and operate the Orange Grove Solar project near Corpus Christi, Texas. The project, set to be completed in late 2025, will provide 130 megawatts (MW) of power to the local grid. AT&T has signed a long-term virtual power purchase agreement with Enbridge for the project's output, helping the telecom giant offset its energy expenses and reduce its carbon footprint.

Orange Grove Solar will be Enbridge's first solar project in Texas, featuring about 300,000 solar panels on 920 acres. The construction phase is expected to create between 150 and 250 jobs. This project is part of Enbridge's broader commitment to developing onshore renewable projects across North America, with the company having invested over US$7 billion in renewable energy and power transmission projects to date.

The National Great Rivers Research and Education Center (NGRREC) and Lewis and Clark Community College are hosting their annual Water Festival for fifth graders in Illinois. The event, supported by a $10,000 Fueling Futures grant from Enbridge, aims to educate students about water conservation and protection. The festival includes 40 interactive stations covering various aspects of water education, from science to recreation.

In 2023, the event attracted over 900 students from 36 classes in five counties. The 2024 festival, scheduled for September 27, is expected to be even larger. The program aligns with Illinois' Grade 5 science curriculum and often exceeds curricular requirements. Teachers are offered free professional development workshops to enhance classroom activities related to the festival's content.

The event's goal is to inspire students to develop a connection with water resources and encourage environmental stewardship. The NGRREC's location near the confluence of the Missouri and Mississippi rivers underscores the importance of river conservation for the Riverbend community.

The Outland Youth Employment Program (OYEP), delivered by Dexterra Community Initiatives, offers a six-week paid summer program for Indigenous youth in British Columbia and across Canada. Participants earn while learning, gaining certifications in skills like first aid, chainsaw operation, and forest fire suppression. The program provides high school credits, full-time employment, and approximately $3,000 in earnings over the six-week period.

This year's BC summer program runs from July 16 to August 24 in Quesnel. Enbridge, a program partner, will host a day of training and career talks on August 7. The program boasts a 95% return rate and has shown significant impact on participants' confidence and career prospects. Applications are available through the OYEP website, though current applications are waitlisted pending funding availability.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) has announced the conversion results for its Series 3 Preferred Shares. 1,502,775 Series 3 Shares were tendered for conversion into Series 4 Shares on a one-for-one basis, effective September 1, 2024. Following this conversion, Enbridge will have 22,497,225 Series 3 Shares and 1,502,775 Series 4 Shares outstanding. The Series 3 Shares will continue trading on the Toronto Stock Exchange (TSX) under the symbol ENB.PR.Y. The TSX has conditionally approved the listing of the Series 4 Shares, which are expected to begin trading on September 3, 2024, subject to meeting all TSX listing requirements.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) has announced that it will not redeem its outstanding Cumulative Redeemable Preference Shares, Series 3 (TSX: ENB.PR.Y) on September 1, 2024. Holders of Series 3 Shares can convert them to Series 4 Shares on a one-for-one basis, subject to certain conditions. The new annual dividend rate for Series 3 Shares will be 5.288% for the five-year period from September 1, 2024, to September 1, 2029. For any Series 4 Shares issued, the dividend rate for the first three-month period will be 1.68822%, based on the three-month Government of Canada treasury bills rate plus 2.38%. The conversion period runs from August 2, 2024, to August 19, 2024, at 5:00 p.m. (EST).