Enbridge Inc. (ENB) Bundle
A Brief History of Enbridge Inc.
Enbridge Inc. has established itself as a leading North American energy infrastructure company, primarily focused on the transportation and distribution of crude oil and natural gas. As of 2024, Enbridge has undergone significant strategic developments, including major acquisitions and expansions in its operational capabilities.
Recent Financial Performance
For the nine months ending September 30, 2024, Enbridge reported operating revenues of CAD 37.3 billion, a notable increase from CAD 33.4 billion in the same period of 2023. The earnings attributable to common shareholders rose to CAD 4.6 billion from CAD 4.3 billion year-over-year.
| Period | Operating Revenues (CAD millions) | Earnings Attributable to Common Shareholders (CAD millions) |
|---|---|---|
| 9 Months Ended September 30, 2024 | 37,256 | 4,560 |
| 9 Months Ended September 30, 2023 | 33,375 | 4,113 |
Acquisitions and Strategic Growth
In 2024, Enbridge completed several key acquisitions, significantly enhancing its portfolio. The acquisition of EOG Resources added approximately USD 1.9 billion in debt, while the RNG Facilities Acquisition totaled USD 1.3 billion. These strategic moves are part of Enbridge's ongoing efforts to diversify its operations and support its low-carbon strategy.
Enbridge's capital expenditures for the nine months ended September 30, 2024, amounted to CAD 4.2 billion, reflecting its commitment to growth and infrastructure development.
Debt Management and Financial Stability
As of September 30, 2024, Enbridge reported a total debt of approximately CAD 60.5 billion with a stable liquidity position, including CAD 17.1 billion in available liquidity. The company actively manages its debt to maintain its investment-grade credit ratings.
| Debt Type | Principal Amount (CAD millions) | Maturity Dates |
|---|---|---|
| Senior Notes | 5,250 | 2027-2054 |
| Term Loans | 250 | 2029 |
| Credit Facilities | 8,800 | 2026 |
Operational Segments and Contributions
Enbridge's operations are categorized into several segments, each contributing to its overall financial performance. The Liquids Pipelines segment generated CAD 7.2 billion in EBITDA for the nine months ended September 30, 2024, while Gas Transmission and Gas Distribution segments reported CAD 4.5 billion and CAD 1.9 billion, respectively.
| Segment | EBITDA (CAD millions) |
|---|---|
| Liquids Pipelines | 7,179 |
| Gas Transmission | 4,506 |
| Gas Distribution | 1,854 |
| Renewable Power Generation | 497 |
Future Outlook
Looking ahead, Enbridge continues to focus on expanding its renewable energy portfolio and enhancing its operational efficiencies. The company is committed to investing in sustainable projects and adapting to the evolving energy landscape, which is reflected in its projected capital expenditures and strategic initiatives aimed at long-term growth.
A Who Owns Enbridge Inc. (ENB)
Major Shareholders
As of 2024, Enbridge Inc. has a diversified ownership structure with significant holdings from institutional investors and individual shareholders. The following table outlines the major shareholders and their respective ownership percentages:
| Shareholder Type | Name | Ownership Percentage |
|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 8.7% |
| Institutional Investor | BlackRock, Inc. | 7.5% |
| Institutional Investor | Canada Pension Plan Investment Board | 7.3% |
| Institutional Investor | Royal Bank of Canada | 5.1% |
| Individual Shareholders | Various (including retail investors) | Approximately 20.0% |
| Other Institutional Investors | Other various entities | Approximately 51.4% |
Insider Ownership
Insider ownership includes shares held by executives and board members of Enbridge Inc. The current insider ownership is approximately 0.7% of total shares outstanding. The following table shows notable insiders:
| Name | Position | Shares Owned |
|---|---|---|
| Al Monaco | President & CEO | 250,000 |
| Gregory L. Ebel | Executive Chair | 150,000 |
| Cynthia A. Hansen | Executive Vice President | 100,000 |
Stock Performance and Market Capitalization
As of September 30, 2024, Enbridge Inc. (ENB) has reported a market capitalization of approximately CAD 100 billion. The stock has shown the following performance metrics:
| Metric | Value |
|---|---|
| Current Stock Price | CAD 46.00 |
| 52-Week High | CAD 50.00 |
| 52-Week Low | CAD 40.00 |
| Dividend Yield | 6.3% |
Debt and Financial Metrics
Enbridge Inc. maintains a robust financial profile. As of September 30, 2024, the company's total debt stands at approximately CAD 40 billion. The key financial metrics include:
| Metric | Value |
|---|---|
| Debt-to-EBITDA Ratio | 3.0x |
| Net Available Liquidity | CAD 17.1 billion |
| Interest Coverage Ratio | 4.5x |
Recent Transactions Affecting Ownership
On April 1, 2024, Enbridge sold its 50% interest in the Alliance Pipeline and related assets to Pembina Pipeline Corporation for CAD 3.1 billion. This transaction has implications for the ownership structure as it affects the equity investments held by the company.
Additionally, Enbridge has formed a joint venture with WhiteWater/I Squared and MPLX, where Enbridge holds a 19% interest, further diversifying its ownership and partnership structure in the energy sector.
Enbridge Inc. (ENB) Mission Statement
Enbridge Inc.'s mission statement emphasizes its commitment to providing reliable energy services while prioritizing safety, sustainability, and community engagement. The company focuses on delivering energy solutions that are essential for the economy and the well-being of society.
Mission Statement Overview
The mission of Enbridge Inc. is to be a leader in the energy sector, ensuring the safe and efficient transportation and distribution of energy resources across North America. The company aims to achieve this through innovative solutions, operational excellence, and a commitment to environmental stewardship.
Key Components of the Mission Statement
- Safety: Prioritizing the safety of employees, communities, and the environment in all operations.
- Sustainability: Committing to sustainable practices that minimize environmental impact.
- Community Engagement: Building strong relationships with local communities and stakeholders.
- Innovation: Investing in new technologies and practices to enhance service delivery and efficiency.
Financial Performance Indicators (2024)
As of September 30, 2024, Enbridge Inc. has reported significant financial performance metrics reflecting its operational success and adherence to its mission.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Operating Revenues (millions CAD) | 14,882 | 9,844 | 51.9% |
| EBITDA (millions CAD) | 4,390 | 2,836 | 55.1% |
| Earnings Attributable to Common Shareholders (millions CAD) | 1,293 | 532 | 143.4% |
| Earnings per Common Share (CAD) | 0.59 | 0.26 | 126.9% |
| Total Assets (millions CAD) | 98,000 | 92,000 | 6.5% |
Capital Expenditures and Investments
Enbridge has made substantial capital investments aimed at enhancing its infrastructure and supporting its mission of delivering reliable energy.
| Capital Expenditure Category | Amount (millions CAD) |
|---|---|
| Liquids Pipelines | 766 |
| Gas Transmission | 1,770 |
| Gas Distribution and Storage | 1,412 |
| Renewable Power Generation | 209 |
| Total Capital Expenditures | 4,216 |
Recent Strategic Initiatives
In 2024, Enbridge has focused on several strategic initiatives aligned with its mission, including:
- Acquisition of renewable energy projects to enhance sustainability efforts.
- Investment in technology to improve pipeline safety and efficiency.
- Engagement with communities to foster partnerships and address local concerns.
Market Outlook
Looking forward, Enbridge is positioned to capitalize on growing energy demands while adhering to its commitment to safety and sustainability. The company aims to expand its renewable energy portfolio, reflecting its mission to transition towards cleaner energy sources.
Conclusion
Enbridge Inc. continues to uphold its mission statement by focusing on safety, sustainability, and community engagement, while achieving robust financial performance and strategic growth in the energy sector.
How Enbridge Inc. (ENB) Works
Company Overview
Enbridge Inc. (ENB) is a Canadian multinational energy transportation company based in Calgary, Alberta. It primarily focuses on the transportation of crude oil, natural gas, and renewable energy through a vast network of pipelines and related infrastructure.
Financial Performance
As of September 30, 2024, Enbridge reported total revenues of CAD 37.256 billion for the nine months ended, compared to CAD 32.351 billion for the same period in 2023. The earnings attributable to common shareholders for the same period were CAD 4.560 billion, an increase from CAD 4.113 billion in 2023.
| Financial Metrics | Q3 2024 | Q3 2023 | 9 Months 2024 | 9 Months 2023 |
|---|---|---|---|---|
| Operating Revenues | CAD 14.882 billion | CAD 9.844 billion | CAD 37.256 billion | CAD 32.351 billion |
| Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) | CAD 4.390 billion | CAD 2.836 billion | CAD 13.534 billion | CAD 11.803 billion |
| Earnings Attributable to Common Shareholders | CAD 1.293 billion | CAD 532 million | CAD 4.560 billion | CAD 4.113 billion |
| Earnings Per Share | CAD 0.59 | CAD 0.26 | CAD 2.12 | CAD 2.02 |
| Capital Expenditures | CAD 1.652 billion | CAD 1.206 billion | CAD 4.216 billion | CAD 3.323 billion |
Operational Segments
Enbridge operates through several key segments, including Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation.
Liquids Pipelines
For the nine months ended September 30, 2024, the Liquids Pipelines segment generated EBITDA of CAD 7.179 billion, compared to CAD 6.944 billion in 2023. Operating revenues from this segment were CAD 26.815 billion for 2024, up from CAD 22.200 billion in 2023.
Gas Transmission
In the Gas Transmission segment, EBITDA reached CAD 4.506 billion in the nine months of 2024, up from CAD 3.220 billion in 2023. The segment's operating revenues were CAD 4.550 billion for 2024, compared to CAD 4.324 billion in 2023.
Gas Distribution and Storage
In this segment, EBITDA was CAD 1.854 billion for the nine months ended September 30, 2024, compared to CAD 1.354 billion in 2023. Operating revenues were CAD 4.796 billion for 2024, increasing from CAD 4.426 billion in 2023.
Renewable Power Generation
For the Renewable Power Generation segment, EBITDA was CAD 497 million for the nine months ended September 30, 2024, compared to CAD 295 million in 2023. Operating revenues for this segment were CAD 370 million in 2024, compared to CAD 334 million in 2023.
Capital Structure and Debt Management
As of September 30, 2024, Enbridge's total long-term debt was reported at approximately CAD 63 billion. The company has maintained a strong liquidity position with net available liquidity totaling CAD 17.1 billion.
| Debt Issuances | Principal Amount | Interest Rate | Maturity Date |
|---|---|---|---|
| 5.25% Senior Notes | US$750 million | 5.25% | April 2027 |
| 5.30% Senior Notes | US$750 million | 5.30% | April 2029 |
| 5.63% Senior Notes | US$1.2 billion | 5.63% | April 2034 |
| 5.95% Senior Notes | US$800 million | 5.95% | April 2054 |
Acquisitions and Growth Strategy
In 2024, Enbridge made several strategic acquisitions, including the EOG Acquisition, RNG Facilities Acquisition, Questar Acquisition, and PSNC Acquisition, which collectively increased its debt by approximately US$5.1 billion.
Market Position and Future Outlook
Enbridge continues to enhance its market position through strategic investments in infrastructure and renewable energy projects. The company is focused on maintaining operational efficiency and expanding its service offerings to meet growing energy demands.
How Enbridge Inc. (ENB) Makes Money
Business Segments Overview
Enbridge Inc. operates through several key segments, primarily including Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. Each segment contributes significantly to the company's revenue stream.
Liquids Pipelines
In the Liquids Pipelines segment, Enbridge generated a total revenue of CA$26.8 billion for the nine months ended September 30, 2024. Transportation revenue alone accounted for CA$14.1 billion, with EBITDA amounting to CA$7.2 billion during the same period.
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Transportation Revenue | CA$14.1 billion | CA$13.4 billion |
| EBITDA | CA$7.2 billion | CA$6.9 billion |
| Operating Revenue | CA$26.8 billion | CA$22.2 billion |
Gas Transmission
The Gas Transmission segment reported total revenue of CA$4.6 billion for the nine months ended September 30, 2024, with EBITDA reaching CA$4.5 billion.
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Revenue | CA$4.6 billion | CA$4.3 billion |
| EBITDA | CA$4.5 billion | CA$3.2 billion |
Gas Distribution and Storage
For the Gas Distribution and Storage segment, total revenue was CA$4.8 billion for the nine months ended September 30, 2024, with EBITDA of CA$1.9 billion.
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Revenue | CA$4.8 billion | CA$4.4 billion |
| EBITDA | CA$1.9 billion | CA$1.4 billion |
Renewable Power Generation
The Renewable Power Generation segment achieved revenue of CA$370 million for the nine months ended September 30, 2024, with an EBITDA of CA$497 million.
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Revenue | CA$370 million | CA$334 million |
| EBITDA | CA$497 million | CA$295 million |
Financial Performance
Enbridge's total revenue for the nine months ended September 30, 2024, was CA$37.3 billion, compared to CA$32.4 billion in the same period of 2023. The company's earnings attributable to common shareholders were CA$4.6 billion for 2024, with earnings per share (EPS) of CA$2.12.
Key Financial Metrics
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Total Revenue | CA$37.3 billion | CA$32.4 billion |
| Earnings Attributable to Common Shareholders | CA$4.6 billion | CA$4.1 billion |
| Earnings Per Share | CA$2.12 | CA$2.02 |
Recent Developments
In April 2024, Enbridge sold its interests in the Alliance Pipeline and Aux Sable, resulting in a gain on sale of CA$1.1 billion ($765 million after-tax). This sale contributed positively to the overall earnings and operational efficiency.
The company also reported a non-cash, net unrealized derivative fair value gain of CA$112 million in 2024, contrasting with a significant loss in 2023, highlighting improved risk management strategies.
Capital Expenditures
Enbridge's capital expenditures for the nine months ended September 30, 2024, totaled CA$4.2 billion, reflecting significant investments in infrastructure and growth projects across its segments.
| Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Capital Expenditures | CA$4.2 billion | CA$3.3 billion |
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Article updated on 8 Nov 2024
Resources:
- Enbridge Inc. (ENB) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Enbridge Inc. (ENB)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Enbridge Inc. (ENB)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.