05:04:47 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 2,022,660,553
Close 2023-09-06 C$ 45.31
Market Cap C$ 91,646,749,656
Recent Sedar Documents

Globe says Enbridge likened to a "three-legged stool"

2023-09-07 07:32 ET - In the News

The Globe and Mail reports in its Thursday, Sept. 7, edition that Enbridge's decision to double-down in the United States with another blockbuster acquisition pits newly minted chief executive officer Greg Ebel's diversification strategy against the potential for more debt drama. The Globe's Emma Graney and Tim Kiladze write that Enbridge announced plans Tuesday to purchase three U.S. natural gas utilities from Dominion Energy for $9.4-billion (U.S.) in cash, plus $4.6-billion (U.S.) of assumed debt. Consumers want to be able to access energy from different sources, whether it is oil, gas or renewables, Mr. Ebel told media Wednesday. Enbridge will cater to this by creating an organization that is akin to a "three-legged stool," he said, with one leg for each stream so it can quickly react to energy market changes. After a string of deals, including the one this week, Enbridge's earnings before interest, taxes, depreciation and amortization will be split 50-50 between its U.S. and Canadian operations, and oil has dropped to half of its total profit. Asked about the trade-off between debt and diversification Wednesday, Mr. Ebel said the opportunity to buy the assets was simply too good to pass up.

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