Key Developments: Enbridge Inc (ENB.N)

ENB.N on New York Stock Exchange

24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Enbridge Inc reviewing restructuring plan to drop down U.S. liquids pipeline assets to Enbridge Energy Partners LP
Wednesday, 3 Dec 2014 07:55pm EST 

Enbridge Inc:Says that it is reviewing potential restructuring plan that would involve transfer of its directly held U.S. liquids pipeline assets to Enbridge Energy Partners LP, a U.S. affiliate of Enbridge.Says that this review is underway and has not progressed to a conclusion.In the event that the company receive proposal from Enbridge, board of Enbridge Energy Management, L.L.C., delegate of EEP's general partner, would appoint special committee comprised of independent directors to review and consider any such proposal.Acceptance of proposal is subject to review and favorable recommendation by special committee and final approval by board.  Full Article

Enbridge Inc announces 33 pct. dividend increase
Wednesday, 3 Dec 2014 07:50pm EST 

Enbridge Inc:Says that its quarterly common share dividend will increase 33 pct. to $0.465 per share with next dividend payable March 1, 2015, to shareholders of record on Feb. 16, 2015.  Full Article

Enbridge Inc gives FY 2015 EPS guidance in line with analysts' estimates
Wednesday, 3 Dec 2014 07:50pm EST 

Enbridge Inc:Announces FY 2015 adjusted earnings per share (EPS) guidance of $2.05 to $2.35.Says that adjusted EPS guidance for FY 2015 of $2.05 to $2.35 is before reflecting accretion resulting from transfer of its Canadian Liquids Pipelines business, which is expected to be about 10 pct. on an annualized basis.FY 2015 EPS of $2.25 - Thomson Reuters I/B/E/S.  Full Article

Enbridge Inc acquires interest in $650 mln value wind portfolio from E.ON
Friday, 28 Nov 2014 02:02am EST 

Enbridge Inc:Says it will purchase an 80 pct interest in a portfolio of two wind farms in the U.S. from E.ON, investor-owned power and gas companies.Agreed enterprise value for the portfolio is about $650 mln.Under the terms of the agreement, E.ON will retain a 20 pct interest and remain the operator of the wind farms, demonstrating its ongoing commitment to the projects and the North American market.  Full Article

Enbridge Inc reaffirms FY 2014 EPS guidance
Wednesday, 5 Nov 2014 07:03am EST 

Enbridge Inc:Says it remains on track to deliver FY 2014 adjusted earnings per share within guidance range of $1.84 to $2.04 per share.FY 2014 EPS of $1.91 - Thomson Reuters I/B/E/S.  Full Article

Enbridge Inc declares quarterly dividend
Wednesday, 22 Oct 2014 04:15pm EDT 

Enbridge Inc:Declares quarterly dividend of $0.35 per common share.Payable on Dec. 01 to shareholders of record on Nov. 14.  Full Article

John Whelen to become Chief Financial Officer of Enbridge Inc
Friday, 10 Oct 2014 08:50am EDT 

Enbridge Inc:Says John Whelen is appointed Executive Vice President and Chief Financial Officer effective Oct. 15.J. Richard Bird will remain Executive Vice President, Corporate Development until his retirement on Dec. 31.  Full Article

Enbridge investing additional $225 mln in Lac Alfred and Massif du Sud Wind Projects
Tuesday, 23 Sep 2014 09:00am EDT 

Enbridge Inc:Enters into an agreement to purchase additional ownership stakes in two Quebec wind projects from existing partner, EDF EN Canada Inc.Under agreement, which is expected to close in mid-Oct, Enbridge will invest about $225 mln to acquire an additional 17.5 pct stake in 300 megawatt (MW) Lac Alfred Wind Project and an additional 30.0 pct stake in 150 MW Massif du Sud Wind Project.Both transactions are subject to customary closing conditions.Enbridge Inc. and EDF EN Canada became co-owners of Lac Alfred project in Dec. 2011 and expanded their partnership in Dec. 2012 with purchase of 50 per cent of Massif du Sud.On completion of investment, Enbridge will hold 67.5 pct interest in Lac Alfred Wind and 80.0 pct interest in Massif du Sud.EDF EN Canada will maintain 20 pct ownership position in both facilities.Remaining 12.5 pct interest of Lac Alfred Wind Project was acquired by the MRCs of La Matapedia and La Mitis in Sept. 2014.  Full Article

Enbridge Inc announces closing of C$275 mln preferred share offering
Tuesday, 23 Sep 2014 08:22am EDT 

Enbridge Inc:Closes public offering of cumulative redeemable preference shares, series 15 by syndicate of underwriters led by TD Securities, CIBC World Markets, RBC Capital Markets, and Scotiabank.Enbridge issued 11 million Series 15 Preferred Shares for gross proceeds of C$275 million.Says series 15 preferred shares will begin trading on the TSX today under the symbol ENB.PF.G.Proceeds will be used to partially fund capital projects, to reduce existing indebtedness and for other general corporate purposes of corporation and its affiliates.  Full Article

Enbridge Inc to transfer asset to Enbridge Energy Partners
Wednesday, 17 Sep 2014 08:00am EDT 

Enbridge Inc:Proposed to transfer its 66.7 percent interest in the U.S. segment of the Alberta Clipper Pipeline to Enbridge Energy Partners L.P. (EEP) for about $900 million.EEP is the owner of the other 33.3 percent interest. The proposed consideration includes cash of about $300 million, plus about $600 million of Class E equity units to be issued to Enbridge by EEP.The transfer is targeted to close by the end of 2014.  Full Article

Enbridge rations space for Ozark, Spearhead pipelines

Dec 22 - Canadian pipeline operator Enbridge Inc said on Monday it was rationing space on its Ozark crude oil pipeline for January, and its Spearhead pipeline for January and February.

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