00:05:17 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-03-29 C$ 40.52
Market Cap C$ 68,681,401,702
Recent Sedar Documents

Globe says Enbridge shares hit six-year low in March

2018-04-02 08:31 ET - In the News

The Globe and Mail reports in its Saturday, March 31, edition that Enbridge faces many issues, from a complex corporate structure to a pipeline replacement with an unclear timeline. The Globe's Jeff Lewis writes that reports that those concerns have multiplied following its acquisition, in 2016, of U.S. rival Spectra Energy. That apprehension is an abrupt change for a company that for years enjoyed solid, predictable growth from a host of new projects. Today, Enbridge is saddled with about $61-billion in debt, a burden that has stoked concern as interest rates rise. Enbridge's dividend yield has jumped to nearly 7 per cent, reflecting investor unease. Enbridge's stock price has tumbled about 30 per cent since announcing the Spectra deal and this month touched a six-year low. Under pressure to shore up finances, Enbridge late last year issued $1.5-billion in common equity, throttled back dividend growth and flagged $10-billion in assets for sale. Assets on the block include some natural gas processing infrastructure as well as its onshore renewable energy business, reflecting a retrenchment toward regulated assets and those supported by long-term contracts that promise steadier returns.

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