Recent Updates — ENB
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.
Enbridge Inc. announced that President and CEO Greg Ebel will retire effective December 31, 2026, due to personal reasons. The Board appointed Michele Harradence, currently Executive Vice President and President of Gas Distribution and Storage, as his successor, with her tenure beginning January 1, 2027. Ms. Harradence will also join the Board on that date, while Mr. Ebel will serve as an advisor until May 2027. Enbridge operates in the energy infrastructure sector, managing North American oil and natural gas pipelines and utilities.
Enbridge Inc. reported second quarter 2026 financial results, announcing GAAP earnings attributable to common shareholders of $1.4 billion ($0.64 per share), a decrease from $2.2 billion ($1.00 per share) in the prior year period due primarily to non-cash unrealized derivative losses and inventory adjustments. Adjusted EBITDA rose 3% to $4.8 billion, while distributable cash flow remained stable at $2.9 billion. The company reaffirmed its full-year adjusted EBITDA guidance of $20.2–$20.8 billion and DCF per share guidance of $5.70–$6.10. Enbridge added over US$1.0 billion to its secured growth backlog, bringing the total to approximately $41 billion, driven by the sanctioning of the Line 5 Relocation project in Wisconsin and the Bay Runner Twin Pipeline. The firm also signed an exclusive option to acquire the TTC Connector Pipeline and began construction on the $4 billion Sunrise Expansion of its B.C. Pipeline system. Enbridge Inc. operates as a major energy infrastructure company, owning and operating pipelines for liquids and natural gas across North America.