Recent Updates — EBBGF
The Board of Directors approved the compensation arrangements for Michele Harradence, who will succeed Greg Ebel as President and Chief Executive Officer effective January 1, 2027. Ms. Harradence will receive a US$1,200,000 base salary, with target annual bonuses at 150% of base under the Short Term Incentive Plan and long-term incentives at 850% of base split among performance stock units, restricted stock units, and incentive stock options. She will also participate in a non-contributory defined benefit pension plan and receive temporary housing in Calgary. Greg Ebel will remain as an advisor through May 7, 2027, receiving pro rata salary and transition support. Enbridge Inc. operates in the energy infrastructure sector, owning and operating natural gas pipelines, liquids pipelines, and midstream assets across North America.
Enbridge Inc. reported third quarter 2026 GAAP earnings attributable to common shareholders of $1.3 billion, or $0.59 per share, compared with $0.7 billion, or $0.30 per share in the prior year period. Adjusted earnings were $1.1 billion, or $0.49 per share, up from $1.0 billion, or $0.46 per share. The company placed $3 billion of gas transmission projects into service and reaffirmed its 2026 financial guidance for adjusted EBITDA between $20.2 billion and $20.8 billion. Enbridge also announced the acquisition of Tallgrass Energy's crude oil business for US$2.6 billion, closed the US$0.6 billion Salt Creek Midstream acquisition, and completed a $3.0 billion common equity offering to fund these transactions.
Enbridge Inc. issued and sold 44,735,000 common shares in a public offering priced at CDN$66.85 per share, generating approximately CDN$3.0 billion in aggregate gross proceeds after exercising the full over-allotment option of 5,835,000 shares. The transaction was executed under an underwriting agreement with RBC Dominion Securities Inc. and CIBC World Market Inc., utilizing an effective shelf registration statement filed on August 1, 2025. This equity issuance represents a significant capital raising event for the company. Enbridge Inc. operates in the energy infrastructure industry, owning and operating natural gas pipelines, liquids pipelines, and midstream assets across North America.
On September 9, 2026, Enbridge Inc. announced a bought-deal equity offering of 38,900,000 common shares at an offering price of CDN$66.85 per share, generating aggregate gross proceeds of CDN$2.6 billion. The underwriting syndicate is led by RBC Capital Markets and CIBC Capital Markets. Enbridge intends to use the net proceeds to partially fund announced acquisitions and create financial flexibility for future growth opportunities, with a portion potentially used to reduce indebtedness or invested in short-term liquid investments. The offering includes an over-allotment option allowing underwriters to purchase up to 15% additional shares, which would increase gross proceeds to approximately CDN$3.0 billion if exercised in full. The transaction is expected to close on or about September 14, 2026. Enbridge operates in the energy infrastructure sector, owning and operating North American natural gas, oil, and renewable power networks.
On September 9, 2026, Enbridge Inc. announced a definitive agreement to acquire Tallgrass Energy’s crude oil transportation, gathering, storage, and terminaling assets for $2.55 billion in cash. The acquisition includes a 75% interest in the 1,050-mile Pony Express Pipeline, a 51% stake in the Powder River Gateway system, approximately 8.4 million barrels of storage capacity, and Stanchion Energy. Enbridge expects the transaction to be accretive to distributable cash flow per share in the first full year of ownership and plans to partially fund the deal through an equity offering. The acquisition is expected to close later in 2026, subject to regulatory approvals including FTC clearance under the Hart-Scott-Rodino Act. Enbridge Inc. operates in the energy infrastructure sector, owning and operating extensive crude oil and natural gas pipelines across North America.