Enbridge

Union Gas is a major Canadian natural gas company based in Ontario. Its distribution arm services approximately 1.5 million customers in northern, southwestern and eastern Ontario. Union Gas has been a subsidiary of Enbridge since February 2017, when former parent Spectra Energy merged into Enbridge.

Union Gas

Enbridge, Inc. engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines. The Gas Distribution & Storage segment consists of natural gas utility operations, the core of which is Enbridge gas, which serves residential, commercial and industrial customers. It also includes natural gas distribution activities in Quebec and an investment in Noverco, which holds a majority interest in a subsidiary entity engaged in distribution and energy transportation primarily in Quebec. The Gas Transmission & Midstream segment consists of investments in natural gas pipelines, processing and green energy projects, the company's commodity marketing businesses, and international activities. The Renewable Power Generation segment consists primarily of investments in wind and solar power generating assets, as well as geothermal, waste heat recovery, and transmission assets. The Energy Services segment consists of businesses in Canada and the United States including logistical services, refinery supply services and the firm's volume commitments on various pipeline systems. The company was founded on April 30, 1949 and is headquartered in Calgary, Canada.

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Enbridge is working to close a once-in-a-generation acquisition opportunity. The deals will significantly enhance its cash flow and growth profile.

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CALGARY, AB , April 1, 2024 /PRNewswire/ - Enbridge Inc. ("Enbridge" or "the Company") (TSX: ENB) (NYSE: ENB) announced today the closing of the agreement to sell its 50.0% interest in Alliance Pipeline and its 42.7% interest in Aux Sable to Pembina Pipeline Corporation ("Pembina") (TSX: PPL) (NYSE: PBA) for $3.1 billion, previously announced on December 13, 2023. This is an important milestone and Enbridge remains committed to working closely with Pembina to ensure the safe and reliable operation of the assets during the transition period.

Enbridge Completes Sale of its Interests in Alliance Pipeline and Aux Sable

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Dividend investors should consider a company's dividend track record early in the screening process. Enbridge has increased its dividend annually for 29 consecutive years and yields a historically high 7.5%.

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Enbridge has increased its dividend annually for 29 consecutive years. The Canadian company operates a massive portfolio of energy infrastructure.

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Enbridge's strategic positioning in North American midstream is intact and its fortress financial position provides solid financial flexibility to meet growing demand for pipelines and storage. Despite a decline in revenue in the recent quarter, ENB's gross margin expanded, and free cash flow increased, indicating the company's ability to address fluctuations in revenue. Enbridge's share price is undervalued by almost 50% according to the dividend discount model.

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Enbridge (ENB) Forms JV to Enhance Permian Basin Connectivity

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Enbridge, MPLX, and two private equity firms are forming a new gas pipeline joint venture. The transaction will provide an immediate boost to Enbridge's cash flow.

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Enbridge will form a venture with WhiteWater/I Squared Capital and MPLX to operate natural gas pipeline and storage assets connecting Permian Basin supplies to the growing LNG and U.S. Gulf Coast demand, the Canadian pipeline operator said on Tuesday.

Enbridge to form natural gas supply venture

AUSTIN, Texas , March 26, 2024 /PRNewswire/ -- WhiteWater, I Squared, MPLX LP (NYSE: MPLX), and Enbridge Inc. (TSX: ENB) (NYSE: ENB) jointly announce they have entered into a definitive agreement to strategically combine the Whistler Pipeline and Rio Bravo Pipeline project in a newly formed joint venture. Enbridge will contribute its wholly-owned Rio Bravo Pipeline project and cash in exchange for an ownership stake in the newly formed joint venture.

WHISTLER PIPELINE AND ENBRIDGE AGREE TO STRATEGIC COMBINATION OF WHISTLER AND RIO BRAVO NATURAL GAS ASSETS

CALGARY, AB , March 26, 2024 /PRNewswire/ - Enbridge Inc. ("Enbridge") (TSX: ENB) (NYSE: ENB) announced today that it has entered into a definitive agreement with WhiteWater/I Squared Capital ("WhiteWater/I Squared") and MPLX LP ("MPLX") to form a joint-venture that will develop, construct, own, and operate natural gas pipeline and storage assets connecting Permian Basin natural gas supply to growing LNG and U.S. Gulf Coast ("USGC") demand. Highlights: Acquiring a meaningful, strategic equity interest in the joint venture Immediately accretive to DCF per share, with ~90% contracted cash flows Receiving immediate, recurring, and growing cash flow from operating assets with minimal commodity exposure Optimizes balance sheet by increasing EBITDA and reducing Enbridge's share of future Rio Bravo pipeline project capex proportional to its economic interest in that project Embedded organic expansion opportunities provides attractive growth options and diversifies offtake The joint venture will be owned by WhiteWater/I Squared (50.6%), MPLX (30.4%), and Enbridge (19.0%) and will include the following assets: 100% interest in Whistler pipeline, a ~450-mile, 42-inch intrastate pipeline transporting natural gas from an interconnect with the Waha Header in the Permian Basin to Agua Dulce, TX, near the starting point of the proposed Rio Bravo pipeline 100% interest in the Rio Bravo pipeline project, ~137-miles of new 42-inch and 48-inch pipelines transporting natural gas from the Agua Dulce supply area to NextDecade's Rio Grande LNG project in Brownsville, Texas 70% interest in ADCC pipeline, a ~40-mile, 42-inch proposed intrastate pipeline designed to transport 1.7 Bcf/d of natural gas from the terminus of the Whistler pipeline in Agua Dulce, TX to Cheniere's Corpus Christi LNG export facility (the pipeline is expected to be in-service in Q3 2024 and is expandable up to 2.5 Bcf/d) 50% interest in Waha Gas Storage, a ~2.0 Bcf gas storage cavern facility, with additional topside facilities capable of injection and withdrawal Approximately 98% of capacity is contracted under long-term, take-or-pay contracts with an average contract length greater than 10 years.

Enbridge to Enter into JV Connecting Permian Basin Natural Gas Supply to Growing LNG and USGC Demand

The latest trading day saw Enbridge (ENB) settling at $35.94, representing a +1.38% change from its previous close.

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Energy pipeline company Enbridge plans to expand capacity on its Gray Oak oil pipeline by 80,000 barrels per day (bpd) this year and could add another 40,000 bpd in 2025, an executive told Reuters on Tuesday.

Enbridge eyes 120,000 bpd expansion to Gray Oak, Texas oil pipeline by 2025

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