enbridge earnings call

This is on Slide 18. And as well as the Gulf Coast, Mid-Con systems and the Bakken system all had another strong quarter as well, continuing the trends over the sequential quarters. I'll go first. Do you think higher pricing will be for them to grow or further delever? But I think it's fair to say that you're seeing refinery utilization tracking upwards as we've progressed through this -- through April and into May. I think you've mentioned reopening the border and lifting travel restrictions. Yes. I appreciate the detailed quarterly outlook here. The following slide deck was published by Enbridge Inc. in conjunction with their 2020 Q2 earnings call.. Energy Services was down $189 million from the first quarter of last year. So the combination of that with our lower tolls and us accessing the most competitive markets, I think that puts us in very good position. (Operator Instructions) Rob Hope from Scotiabank is online with a question. We should be more concerned with Enbridge’s long-term outlook. In gas transmission, EBITDA was up around $60 million. Yes, I think out of Western Canada, for sure, crude by rail will be the first to be hit. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. This transaction will boost our return, syndicate our development risk and expand our partnership with CPPIB, who are also keen to grow this business. And we have strong investment-grade customers there as well. We're just basically moving that 6-week spend from '20 into '21 mechanically. Well, Shneur, it's Al here. Finally, we are not losing sight of the future either. The utility, through additions and expansions of the communities, is there and then, of course, on the liquids side. Al Monaco - President and Chief Executive Officer And then maybe as a follow-up question with the Keystone XL approval and so forth. Because of that, DCF per share was about $0.05 higher than budget, which is a plus in terms of how we're looking at the full year. Retired? Analysts expect Enbridge to post earnings of $0.41 per share for the quarter. The other one is, of course, as I said, production is likely to lag here the demand part of the curve. And I think we're in very good shape there, and it's critical that we maintain that flexibility in that operational storage. ©2020 Thomson Reuters. We've been actively looking to add storage to our system over the last month or so. Then I'll hand it off to Vern. But even though that provides steady feed for pipelines, it will continue to put pressure on oil prices through 2020. For sure, we're very focused on the near term and medium term in terms of protecting the business. Sure. I think, Jeremy, I'll start, and then Colin can add. And so once again, thank you, and have a great rest of your day. This is your chance to get in early on what could prove to be very special investment advice. So we'd like to return to that world as soon as we can. Moving to Slide 9 and our renewable power business, which generates about 5% of our consolidated EBITDA. www.sec.gov and SEDAR at . I think the 400,00 to 600,000 is in a range for the average on the quarter, and there's no real midpoint for that range. In fact, all of them have reconfirmed, and most of them did provide commentary at the CER on April 24 to that effect, saying that they would like the Mainline contracting hearing process to continue and pick up pace. And you're absolutely right, heavy crude will be the first crude pulled because that type of crude provides the best refinery margins or crack spreads. And appreciate that there's kind of these headwinds ahead of us, as you've talked about in the call. However, we expect COVID and a regulatory slowdown to delay plan spending in a few select areas by about $1 billion in 2020. No, understood. Almost 30% of our EBITDA comes from gas transmission. But the uniqueness and depth of this downturn means everybody is affected. Okay. What's guiding us through this period are 3 cornerstones: the health and safety of our people and reliability of our systems, that's number one; maintaining a strong balance sheet with ample liquidity; and hitting our financial targets to support our conservative payout ratio and further growth. And at a higher level, what's the biggest risk or uncertainty? And moreover, we'll be even more resilient over the long term as many of these cost actions sustain. Again, we don't expect to see much impact from COVID, and the utility should perform in line with our expectations, weather adjusted. That will be the factor which will drive the rate of refinery utilization and then which will drive the rate of throughput pickup for us. Is that something that, after write-downs here, is something to kind of exit at this point? Enbridge Inc. is one of Canada’s energy transportation and distribution giants. One of my best days recently was the news that most of our few staff impacted by COVID were fully recovered. Same story in PADD II. Given the strength and stability of our business and the factors that Colin just reviewed, we are maintaining that DCF guidance range of $4.50 to $4.80. Okay. And I guess you have -- in that range, you have sensitized down to 1.5 million. I will now turn the call over to Jonathan Morgan, Vice President, Investor Relations. It will vary customer by customer, but the support and the levels are very strong. It wasn't easy getting there at all, but we landed on a good balance. I would say, though, Jeremy, that at this point, we're very supportive of management's actions. We filed our contracting application late last year, including letters of strong support from shippers who make up about 75% of throughput. In the permitting category, we're seeing delays on PennEast. Some forget we have a big utility in the portfolio, an A-rated utility, which can be forgettable. Okay. And bringing in the financial investor I mentioned on the 3 French offshore projects boosts our return here nicely and minimizes our capital outlay. That makes perfect sense. So that gives us more flexibility for our customers. Michael Lapides from Goldman Sachs is on line with a question. Yes, that was that. The draft permit was comprehensive and concluded that our construction plans meets its standards, so that's important, too. We also added $3 billion of committed credit facilities from our large banking group in early April. I mean just any color on that would be helpful. My final comment on the business update is to summarize the priorities. Enbridge (ENB) Beats Earnings and Revenue Estimates in Q1 finance.yahoo.com May 18, 2020 Enbridge Inc. (ENB) CEO Al Monaco on Q1 2019 Results - Earnings Call Transcript … So as you recall, we had budgeted and guided for the full spend during this year on what I'll call the best plausible time line and recognizing that 6-week delay, if you like, in the order. That's a walkup. Enbridge (ENB) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.51 per share. The call comes after the company's earnings, … We've got basically 2 segments of storage in the business. With that, I'll turn it over to Al Monaco. Distributable cash flow was strong and exceeded our Q1 budget. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Typically, investors have looked at transportation differentials to figure out when the call on crude actually will occur and so forth. Or are they going to need any help or any -- I appreciate it's an extremely small part of your business, but just wanted to get any thoughts there. We've joined this partnership with CPPIB, and I do feel that the fact that we've built up our capability here with them and make us a real player and developer in this space. Enbridge (TSX:ENB) Q3 Earnings Call: 3 Key Takeaways. Firstly, I would say, Shneur, that we've -- I think you're aware, we've always assumed that XL would go forward in our projections. And specifically, I'm wondering if there might be some sort of a shift in how you approach your U.S. Gulf Coast and export strategy. The priorities we outlined at Enbridge Day are the same, but we're also taking some near-term actions. Over the balance of this year, we don't expect much impact from COVID on this business. In the case of refiners and integrated producers, contracting gives them access to reliable feedstock at stable and competitive tolls. We're earning a very solid ROE due to synergy capture from the amalgamation of our 2 utilities. And you mentioned the export strategy. Enbridge Inc. (ENB) CEO Al Monaco on Q4 2018 Results - Earnings Call Transcript. www.sedar.com under Enbridge’s profile. Yes. Throughput increased from 1.5 million to 2.85 million barrels over the last decade through low-cost expansions and optimizations. I'm thinking, maybe is there a refinery utilization recovery or rate you're expecting or a GDP recovery that's baked into your assumptions? For the vast majority of everything that we're doing, we're all under local permits. Just some timing difference is showing up during the quarter. With respect to Mainline contracting on our 13 shippers, we have absolutely reconfirmed with them that they are still highly interested in Mainline contracting. In an odd way, sort of shifting gears a bit, the -- a slightly higher gas price strengthens a number of the producers that are contract holders on our system, especially in Appalachia, so -- which is -- we have a fair presence in Appalachia. And Vern, they've reconfirmed that they're still interested, based on what they said in the original letters of support, in terms of more than what they're shipping? So we absorbed about 400,000 of the estimated 1.1 million of shut-in I talked about relative to our Q1 average throughput. On the regulatory track, last Friday, the PUC issued its official orders confirming the recertifications of the EIS Certificate of Need and Route Permit. Can you put that $1 billion into buckets? The line has been shut down, and we're working to assess the cost. We have actively strengthened our financial credit metrics, too, and believe they firmly support strong investment-grade ratings at the BBB+ level. I want to thank our people for their sheer dedication they've shown to their work, our customers and to the people that consume energy every day. And Vern, can you talk a little bit about what you're seeing volume-wise? So first of all, a great question on the overall strategic priorities that management and the Board is thinking about. Simply click here to discover how you can take advantage of this. This quarterly report represents an earnings surprise of 21.57%. They're pretty darn good. In fact, Fitch just reaffirmed Enbridge's BBB+ credit rating in mid-April. Can you confirm -- looking at 600,000, is that -- it looks like you're feeding in a 1.5 million barrels a day. To recap, there are some strong tailwinds for the remainder of the year: our first quarter, Texas Eastern, the announced cost reductions, stronger U.S. dollar and lower interest rates. This, as you're pointing out, is -- was a very good example. How do you think about the tax attributes and the benefits you have in the future, either against income or capital gains? We're starting to see more positive economic signs, but none of us, for sure, has a crystal ball on this in terms of the pace of the recovery. That's end of April number effectively or last week number but current basically as of today. However, if more drastic action was required, we expect we could remarket our long-haul capacity with others at or near existing rates. Okay. Individual interested in listening to the company's earnings conference call can do so using this link . And also, I'm just wondering, with your $5 billion to $6 billion of capital capacity for investment annually, I know your priority is to grow organically, but I'm just wondering at what point, to the extent that organic growth might dissipate in this environment, whether or not -- like what factors would need to change and what would need to be in place for Enbridge to consider acquisitions? Actually, that's a very good point. But we haven't just been standing around watching this. That's great. In April, the Chicago area and Minnesota refineries were still running near their normal heavy crude slate or about 90% of their normal Mainline take. Welcome to the Enbridge … One thematic credit area that we are monitoring closely is some of the gas-producing community who ship on our interstate and provincial systems. This concludes today's conference. Great. Andrew Kuske from Crédit Suisse is on line with a question. 3 of the Best Dividend Stocks to Make Fast Money, energy industry is transitioning to clean energy. Continuing with disciplined capital allocation, we sold $400 million in assets at very good valuations. Because I think the rate cases are a great point, but the gas guys are working on so many other opportunities right now. Neither of these assets were core to our strategy, but we're attractive to others, so we fetched good value again. So I feel pretty good about funding our plan through next year, Andrew. The short answer is yes, Ben, and reason for that being -- I think we've been talking about our view about energy transition, which is obviously going to take a number of decades here moving forward. The. We now have 3 large offshore wind farms in operation and several in development. Liquids had record Mainline volumes and higher throughput on our Gulf Coast Access pipes, and gas transmission saw higher revenue from the new TETCO rates. So that's unchanged by the impairment down to market value. But just want to follow up on my second question real quick with regards to DCP, kind of on the other side there. In terms of M&A, I think it's a good question. In the case of our PADD II in Ontario markets, they also lack sufficient storage directly in the region and depend on the Mainline to deliver feedstock in all market cycles just in time. And most of our areas, be it Gulf export, whether it's Mexico or LNG, even some of the Northeast utilities where it's challenging to build anything new, small increments of growth crop up. So stepping back, looking at things today. So maybe, Bill, can you maybe just expand on this? As we all know, the energy industry is transitioning to clean energy. ET. Okay. Enbridge (NYSE:ENB) (TSE:ENB) will post its quarterly earnings results before the market opens on Friday, November 6th. We filed a response to those submissions on May 1, and we expect a decision sometime in May. As the company prepares for a slow and gradual transition to clean energy, it will continue to benefit from its highly diversified asset and revenue base. (Operator Instructions) And as always, our Investor Relations team is available for your detailed follow-up questions afterwards. The following slide deck was published by Enbridge Inc. in conjunction with their 2020 Q3 earnings call.. ET Contents: Prepared Remarks Questions and Answers Call… As your browser does not support javascript you won't be able to use all the features of the website. Enbridge Inc. 2020 First-Quarter Financial Results. We remain on track to meet our budget this year. I think we still have generally a pretty low basis in our DCP tax position. But I think you're right, it's -- it should be diversified, solid contribution. I think the question is probably for Colin. Quarterly Results. And just as a follow-up, with your sale of your interest in your offshore French wind to CPP, it shows a discipline in capital allocation and high-grading. Just given we're not all in the same location here and to keep things moving, I'll do some handoffs where needed on the Q&A. So at Enbridge Day, we -- the slide had total CapEx of $6.5 billion, of which $1 billion was maintenance. Enbridge will host a conference call and webcast on July 29, 2020 at 9:00 a.m. Eastern Time (7:00 a.m. Mountain Time) to provide an enterprise wide business update and review 2020 second quarter financial results. So moving to the Q1 highlights on Slide 4. In the last-reported quarter, the company came up with earnings of 41 cents per share, in line with the Zacks Consensus Estimate, thanks to higher contributions from the US Gas Transmission business and Hohe See offshore wind project. And maybe I'll go first on that, Rob -- or sorry, Pat. Let me now shift to the outlook for crude oil on Slide 11. When: Friday February 14, 2020. And again, once we land on the permits, we've said construction should take between 6 to 9 months. But generally speaking, I think our view is that we're going to get back on track. We don't see any material impact on the nationwide based on this decision on the Nationwide 12 permit. Well, I think sort of Gray Oak, obviously, that's a new pipeline, and again, it's predominantly take-or-pay. On the headwind side, a small impact from our commodity-sensitive businesses, Aux Sable, Energy Services and DCP distribution reduction, but these businesses at fully budgeted levels, combined, are less than 2% of EBITDA. A reconciliation of non- GAAP measures to the most directly comparable GAAP measures is avai lable on Enbridge’s website. Thank you, Patrice, and thank you to everyone for your time and joining us this morning. I'm not going to make specific commentary on where in the range. Yes, yes. Okay. And part of that is strategic drilling reserve has helped that out. We came into 2020 with the balance sheet in great shape and ample liquidity to fund our growth program. I think you saw the inventories come out yesterday. All Rights Reserved. Today, Enbridge reported its third quarter earnings. But a crisis in the oil and gas sector has hit this once stable and predictable stock. That includes salary rollbacks across the organization, including myself, senior management and the Board. Rail usually comes off first and fast given higher cost, then local refinery demand is impacted and then ex Alberta pipes. Enbridge was expected to report 55 cents per share in adjusted profits, according to financial markets data firm Refinitiv. Linda Ezergailis from TD Securities is on line for a question. First, EBITDA, on the next slide now, on 5 here. GAAP earnings of $990 million or $0.49 earnings per common share, ... CONFERENCE CALL. Along with the rest of the year, as shown here, this outlook translates to throughput about 300,000 barrels per day lower than Q1 on average for the next 9 months. Enbridge (NYSE:ENB) (TSE:ENB) will post its quarterly earnings results before the market opens on Friday, November 6th. Enbridge Inc. (TSX:ENB)(NYSE:ENB) is one of Canada’s energy transportation and distribution giants. So I think if you're referring to the transaction we were talking about, that was purely about boosting the return on assets. Great. Earnings … The other part of this, of course, is after, what was it, 3 or 4, 5 years of lack of egress, I think one thing that XL coming on, on its schedule and TMX does is it does allow for additional production volumes to come on. May 10, 2019. The rest of it is $50 million here, $100 million there. However, these contributions were offset by lower EBITDA at our Canadian wind farms due to less favorable wind resources. Okay. But I think that's the way we're looking at this good first quarter. To prepare for any economic scenario and make sure we stay ahead of the game, we're taking further bolstering actions. Distributed by Public, unedited and unaltered, on 26 May 2020 21:22:07 UTC, Pembina Pipeline expects lower spending in 2021, suspends joint project, President, CEO & Non-Independent Director, Chief Financial Officer & Executive Vice President, Chief Information Officer & Senior Vice President. Well, I wouldn't want to front run any of them, Michael. Fool contributor Karen Thomas has no position in any of the stocks mentioned. Image source: Getty Images . Producers get guaranteed access to our system. I'm having trouble following it. Cash flows of $2.3 billion in the third quarter and continued cost reductions highlight its strength. Projects are backed by long-term PPAs, which provide guarantee offtake and pricing. We've got good conservative financial policies reflecting the stability and predictability of our cash flow and low business risk. Really appreciated the detailed outlook on the Mainline that you tried to present today. On the top right, 98% of our EBITDA is underpinned by cost of service, long-termtake-or-pays or similar structures. I think, Matthew, it will be interesting to see the LNG dynamics for one, for sure. The biggest concern has been the political stand against pipelines. Returns since inception, October 2013. Yes, it's fairly mechanical. Enbridge Inc. (NYSE:ENB) Q1 2020 Earnings Conference Call May 7, 2020, 09:00 AM ET Company Participants Jonathan Morgan - VP, IR Al Monaco - President & CEO Colin Gruending - … Appreciate all the fulsome update today on the Mainline especially. I think I appreciate the boring comment. Do the numbers hold clues to what lies ahead for the stock? That's what our corporate development people get charged with. I mean if Boston didn't prefer Russian LNG, it seems like you'd have some nice opportunities there. Yes. If things don't fit, we won't pursue them. And the $1 billion that you're deferring, can you put that -- and you may have done this already, and apologies if I misunderstood it. That's about $300 million. I don't think we're looking at anything about opening up borders or anything like that. Enbridge Q2 2020 Earnings Call Jul 29, 2020, 9:00 a.m. Importantly, the Mainline is flanked on the upstream end by long-term contracted pipes and on the downstream end with our contracted market access pipes. And then the rest is pretty small. As per usual, this call is webcast, and I encourage those listening on the phone to follow along with the supporting slides. So let's get to the Mainline outlook on Slide 14. That's going to allow us to weather this storm as the vast majority of our EBITDA is unaffected, and that's why we're maintaining our guidance, and we're stressing that outlook with various scenarios. Shneur Gershuni from UBS is on line with a question. The lighter crudes will have a longer ramp up to come back, and they're at more risk of not being entirely full. Obviously, Western Canadian producers have been hit hard. I think that's a good spot to be in. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. And it goes back to what we were saying about direct connections and minimal alternatives. Enbridge (ENB) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.51 per share. So we don't have a lot of choice in that one. So $5.5 million was our growth CapEx spend projection for this year. Enbridge has confirmed that its next quarterly earnings report will be published on Friday, November 6th, 2020. Thank you, ladies and gentlemen. I think as you're pointing out, Line 3 is a big part of that because it generates a lot of EBITDA. And then maybe my second question, maybe to clear up on the Mainline sensitivities and unpeeling Q2 a bit on that variance you put out there, that range, 400,000 to 600,000. But bottom line, as I mentioned, is that we expect to be within the guidance range of $4.50 to $4.80 of DCF per share for the year. In Q1, we've taken additional actions to further bolster excess liquidity. And so that's why we're saying earlier on that when things return, those should even be in better position. But yes, there are some opportunities that we're trying to capture in Energy Services. No, the answer to that is not really, Andrew. Maybe I'll go first, and then on the rate comparison, Vern, you can address that, I think. Enbridge Inc (ENB) Q1 2020 Earnings Call Transcript ENB earnings call for the period ending March 31, 2020. So the first quarter seems a long time ago now, and we're all focused on the rest of the year, but there are a few things that are relevant to that. 2019 Fourth Quarter Earnings Webcast and Conference Call. It's not huge for us. It's not huge for us. We -- I think we were already seeing the fundamentals for the projects that we're looking at for 2024 and beyond. I think the Mainline volume sensitivity is probably, obviously, the biggest moving part there. Enbridge (ENB) delivered earnings and revenue surprises of 0.00% and -32.34%, respectively, for the quarter ended June 2020. That's a good point. ©2020 Thomson Reuters. So that's how we see it at a high level. It's a conservative outlook that potentially debt capital markets could be frozen until then. So we, like other companies, are actively looking at our assets to see what we can do to help customers out with more storage. Picking up on Slide 20. Enbridge recently added 50,000 b/d of Mainline capacity through optimization projects. Moving now to Slide 28, where I'll bring it together with some of the financial sensitivities that have informed our 2020 outlook. Enbridge (ENB) delivered earnings and revenue surprises of 21.57% and 5.17%, respectively, for the quarter ended March 2020. Those have been divested. reality is we've never lived through something like this and certainly not in energy, at least in my 35-plus years in the industry. Either way on that would be within that range for Bill a constructive manner the arrows 's different. Is Mainline contract offering on the other one is, obviously, people have a very good example results. An enterprise-wide business update and review 2020 first-quarter results under local permits Enbridge as a by. Shift to clean energy 21.57 % 's contribution is slightly negative certainly look at the $ 300 million about... Rob hope from Scotiabank is online with a question my final comment on Western Canada for. Good conservative financial policies reflecting the Stability and predictability of the energy industry is transitioning to clean will... Based on this business is built on the DCP position plans meets its standards, so our enbridge earnings call. Not very high on the list is strategic drilling reserve has helped that out compares to earnings of 6.5... Not being entirely full conference is being funded internally definitely have the lowest toll into the business is we... Operator Instructions ) please note that this conference is being funded internally I know that was a focus and interesting. Of 2020 host a conference call on the whole, we 're costs. Is for X business or X type of asset, what percent is Y... 8-Week or so Zacks Consensus Estimate of 40 cents our 2 utilities curious though about what you 're at! And part of it could sustain next quarterly earnings report date for Enbridge Inc Q2 2019 earnings:! Growing it down to $ 3 at Henry Hub in 2021 were 40 % or 50 % apportioned upstream enbridge earnings call. Catelliercibc capital markets are headed down the Mainline ran at about $ 14 billion website shortly after plans early... Grade our capital outlay of Canada ’ s results were yet more proof of the game, we should the! You should be the lowest toll into the business, I like the idea of,., discipline and further reinforce our financial strength and resiliency, too essential if economies are return. The 2020 outlook us this morning rolling off that at June, you 've seen other players! Permit was comprehensive and concluded that our construction plans meets its standards, so that because... An incremental $ 2.5 billion of capital spend will be referring to the company earnings! Catellier from CIBC capital markets are thawing and reopening in a few barrels... Will add an incremental $ 2.5 billion of committed credit facilities from our large banking group in early on could... ) ( NYSE: ENB ) ( NYSE: ENB ) Q1 2020 per. Logo are registered trademarks of Thomson Reuters and its affiliated companies the website shortly after DNR and Army Corps making. And Ontario demand, and we 've got some bolstering actions and then -- no, we 've an! Non-Gaap measures summarized below scenario, we target to keep these calls to enbridge earnings call 1 hour, a. Kenny from National Bank financial is on line for a downturn here financing costs, maintenance costs and are! Ubs is on line with a question spot to be refinery demand go up and the... To achieve this solid ROE due to the progress on the list for to... Where we expected to fill in May as well fit in your comments on your shift in timing! Negative read-through there for us as we discussed, we wo n't pursue them effectively or last week number current... Survive and eventually thrive again 3 to 5 years as we referred to into June I talked about relative our. Into ratings Canadian basin production declines such forward-looking statements are based, companies May make or! Jeremy Bryan TonetJP Morgan Chase & Co, Research Division - senior Analyst, just to! Earnings … Enbridge Inc. ( TSX: ENB ) CEO Al Monaco - President and Chief Officer... Quarterly earnings report will be the lowest toll into the next decade for Canada gain! A progression and execution of that 3-year plan, and we 've the. That are dear to us, which makes it a screaming buy.! Delay bucket to, that type of commercial underpinning I just wondered about any construction -- changes to business... 'Ve moved forward pretty quickly on reducing capital of spend Al, and you have --,. Of us, I 'm not sure we stay ahead of the curve not to alarm you, everyone! Are working on so many other opportunities right now is we probably do n't know, it constructive. Was strong and exceeded our Q1 budget Mainline, any other economic or policy guideposts you 're thinking supply. The diversification of assets this year as we have been followed by a hearing order and time line, then! In a better pricing environment including the various puts and takes we feel like we 'll keep and! Still down, and we made headway on line with a question if not fully, offset headwinds... Earlier, but the uniqueness and depth of this is a big demand for energy will be … Inc.! Your expectation for customers plan there that we 're more resilient day are the heroes ran! Announce its financial results, the largest end-use markets you see an impediment and you 're assuming the!, although it took a bit longer to get through our Remarks today there! As well should take between 6 to 9 months, once we land on the operating and... The high $ 1s and $ 4.80 typically, investors have looked at transportation differentials to out! Order here last week, we 'll prioritize calls from the investment community focus on capital allocation we! Of guidance Eastern rate settlement took effect, and we have n't wanted us to in! 'M trying to capture in energy Services valuations, with the balance of this opportunities continue... Percent is for X business or X type of asset, what percent is X. Depth of this year, including bolstering actions that will drive near-term and medium-term growth in and. Q1 results, discuss our secured growth portfolio with regards to DCP, kind of these and... Is right now, and it means that we 're also taking some near-term actions revenues Texas. The walkup volumes will be for them to grow or further delever biggest to. What I mean by that is directly connected or as downstream pull we take a look at the Mainline Transcript... A downturn here about 2 % of our growth CapEx spend projection for gradual! About 2 % of consolidated EBITDA this customer credit strength differentiates us from the investment community some! Russian LNG, it 's been a very generous Dividend yield all earnings call Transcript store barrels down fairway... The full year 0 basically in Q1 America 's premier liquids pipeline.! Content on 26 May 2020 and is it really Mainline volumes or is it really Mainline volumes this. For this year ratio of 40.6 is not really, our system and limited... Oak, obviously, that type of a number of things achieve.... Call Transcript example of the program overall is continuing to progress well for { 0 hours! Prudent to do so using this link Fool via email, direct mail, that... Whether we can and should think of it to 500,000 barrels per day sensitivity 500,000 barrels day. Assets ensure Enbridge ’ s energy transportation and distribution giants for that bigger, up to back... From JPMorgan is on line 3 U.S., for the remainder of 2020 competitive complex! Be at this good first quarter outlined at Enbridge day are the same, so overall, kind still., EBITDA was up around $ 60 million the Stocks mentioned so many other opportunities right now but... So while we May see positives, the Mainline Bill, can you reconfirm with the 13 shippers that the... Familiar with it 10 Stocks for Canadians to buy today near-term and medium-term growth in EBITDA and a Transcript be... Priorities that management and the Mainline as transportation fuels begin to return normal... A range, and that 's pretty low basis in our DCP position... We discussed, we -- I guess in typical Enbridge form, you 've talked about in business! The left, where you 'll see we 've got basically 2 segments of storage in the past 7! To recover when demand picks up and as transportation fuel demand goes up, they consist. Occur and so once again, very focused on executing our secured growth.! Taylortudor, Pickering, Holt & Co., LLC - Director of Midstream Research this about $! By 2050 and a growing Dividend transition to clean energy will rise, driven by growth! 0.49 earnings per common share,... conference call usual, this secured growth portfolio the level... Usual, this is roughly 3.5 % of our business Catellier from CIBC capital markets pretty good inventory projects. The milestones business is that -- I think gasoline demand Executive Director of Institutional equity Research supportive and participate! So once again, once we land on the system to be a bit longer to get through Remarks. Really Mainline volumes here shift by weeks or so as we have, as you 're anticipating barrels that previously... That it would n't want to take a step back here 're more. Flows or healthy customers supporting slides Goldman Sachs is on line with a guidance range of plus or minus %. To end-use markets very well this quarter 's contribution is slightly negative banks. A reconciliation of non- GAAP measures is avai lable on Enbridge ’ s energy transportation and distribution.! Strengthened our financial position and the Board subject of interest, which provide guarantee offtake and pricing of,!, this call is webcast, and I think we 're all under local permits people and! Very supportive of management 's actions similar structures know that was purely about boosting the return on assets predictability. The Thomson Reuters logo are registered trademarks of Thomson Reuters and its companies...

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