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enbridge q2 2020

As always, there is some tailwinds and headwinds to consider in the second half against our original guidance. ET (10:30 a.m. MT), Friday, August 2, 2019 7:00 a.m. MT (9:00 a.m. And we do that, Robert, for essentially every element of the risk profile of our project. I think we believe the worst is behind us, but we remain cautiously optimistic on mainline throughput over the rest of the year. I took the opportunity to look on the ISO website while I was talking. I think this area is going to develop further over the next little while, and we should be well positioned relative to the rest of the group. We also filed on Alliance, East Tennessee, and Maritimes, and settlement discussions with customers will follow later this year. This business segment continues to drive stable and predictable results, with virtually all of our cash flows coming from reservation-based revenue contracts. Is it all light door? He's been doing a lot of thinking about that. It's Vern. But again, we go through a pretty distinctive process there where we look at what the hurdle rates would need to be for international investments. On DAPL, prior with the downturn in Bakken volumes, we do have some space on our legacy North Dakota line that runs into Clearbrook, and we also have some space on our Bakken expansion project that runs up from the Bakken back into Canada at Cromer. The second driver is the contribution from assets placed into service last year, namely Stratton Ridge and Phase 2 of Atlantic Bridge. For us, what's most important is the regional picture, though. And in order to answer as many questions as possible we'll be limiting questions to one plus a single follow-up, as necessary. A couple of years ago now, we reached an agreement with the state to construct the tunnel. And maybe as a follow-up question. So in Q2, we added another 50,000 barrels per day on the mainline and the first phase of our express expansion at 25,000 barrels per day. But certainly, I suppose it could be an opportunity in the future, but you have to really make sure that the country risk and the other factors within the risk profile fit with the rest of the business model. These points and our first-half results provide confidence in our full-year outlook. Al Monaco -- President and Chief Executive Officer. Just wondering, overall, appetite for green investments and specifically those two avenues, if you see opportunities there over time. But as you can see, we're still below normal. So we want to make sure we're not messing with that. The in-corridor expansions, extensions, modernizations, executable projects. You can see it -- probably the simplest example is just our cost pursuit. Hi. I guess linked to that, which was the other part of your question, had to do with buybacks. At the same time, we're going to see conventional fuels growing as well, especially natural gas, so we think it makes sense strategically from the point of view of diversifying our capability to have a portion of the assets and renewables. As I mentioned in my remarks, that one is we got this other feature where the wind variability that you typically see in these projects is actually quite limited because there's a collar on it. So anyway, that's the broad answer to your question. As to the other part of your question around other parts of the value chain, I think our view is always extending the value chain whenever we can, is something that we always strive to do. Does capex potentially come down a little bit this year? We're watching it, obviously, Ben, but generally, we think we'll be in good shape. So just to confirm that. In terms of larger scale M&A, it's not on the priority list right now. And is that the priority going forward? I mentioned over $1 billion just in GDS, the utility, power has got some projects, liquids can optimize. I think it's probably a little too early to tell, honestly, Ben, what the policy implications will be and what it means to infrastructure. Of course, you're not seeing that reflected today yet, but that's what the fundamentals are telling us. We would certainly not hesitate if we saw something in the single asset category that made sense in either of those three businesses and in a lot of the power business in there. Hey, good morning, and thank you for your comments this morning. We also banked some proceeds in the quarter from our continuing asset sales program, where, again, the objective is to enhance returns by recycling capital. And as I said, we've built that slowly. But overall, the capex budget is declining as we go forward here, which should help us generate free cash flow. So it looks like Q2 played out a little bit better than we expected, yet you did keep your H2 outlook. Certainly, on the face of it, what we do and the capabilities we have could be exported, if you want to look at it that way. Ben Pham -- BMO Capital Markets -- Analyst. Our next question comes from the line of Shneur Gershuni from UBS. I think hydrogen is very interesting. Jul. Hi, Rob. You could quadruple the amount of wind as they're projecting. Importantly, management has reaffirmed Enbridge’s DCF per share guidance for 2020 of $ 4.50 to $ 4.80. So I think on Line 3, I alluded to this in my remarks. We're going to look at that pretty carefully. On the next slide, we'll wrap up the business review with renewables. And once we've done that, we'll be able to meet the wishes of the tribe and remove the pipeline from the reservation. We'll look at other things to do with capital as well in case we can't find the opportunities that we've been focused on and pretty good at. Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 first-quarter results. You've got a -- there's certainly energy transition in play here. July 2020. This reflects higher index distribution rates, more synergies, as Al mentioned, and stronger utilization from colder spring weather. IMPORTANT NOTICE: Enbridge Gas Distribution and Union Gas have merged into one company, Enbridge Gas Inc. We are working to serve our customers better by combining our websites.If you are unsure which website you need, use our postal code lookup tool to get to the right information. I'll start off, and then maybe Bill -- I'd like Bill to comment, too, on this because the reality is that the renewable side of things in terms of power generation really does link up with natural gas, so maybe he can address that part. I know at first glance, it looks like an analogous fact pattern. I know you're not in the driver seat there, but can you clarify when you expect the core decision on pipe being shut down or not, is clarity by next week before that initial August 5 deadline reasonable? It's serving us well, and I think it's a point of differentiation. Does it go up next year? While there are headwinds in the second half, and Colin will take you through that, we expect to be within the guidance range and the cost savings we talked about last quarter were enabled in late Q2. That program should give us $2.5 billion or so in incremental EBITDA. So I think to the extent that we can see value and how it enhances the existing franchise on single assets, I think that's probably the prime area. As always, our investor relations team is available for any detailed follow-up questions after the call. John has taken a lot of pride in developing people. You heard Bill's comment about how that might work through the gas transmission side. Just given your allocation of capital, as well as how Enbridge's shares have performed versus the U.S. peers, have you reevaluated your view on M&A, whether that's on the corporate side or using this as an opportunity to acquire single assets that could be contiguous with your system? Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. It's true that the midstream valuations are, I guess, attractive relative to where they were. And as a reminder, the 401 covers construction methods and scope of work rather than whether the project is needed or the route, and the PUC, of course, as I said, has approved those items. Your question, please. Enbridge Inc. (NYSE:ENB) Q2 2020 Earnings Conference Call July 29, 2020 9:00 am ET Company Participants Al Monaco - President, Chief Executive Officer Colin Gruending - … We had good utilization in gas transmission and distribution and higher rates kicked in on the Texas Eastern System. Good morning, guys. That's going to limit throughput a little during the summer shoulder months so we can focus on getting back to full capacity by the winter heating season. Thank you. However, we do expect these capital expenditures to ramp up in the second half of the year, in line with our full-year guidance. Thank you. Finally, we continue to secure new growth for the future. 75% of the legislature, Democrats and Republicans like voted for it last month. Shneur, it's Colin. There's no viable alternative for Line 5. Your question, please. Well, it's not much of a secret that the energy space is going through a challenging time. Most of this improvement is from lower cost as we began to realize enterprisewide cost reductions. Then I think we can see ourselves getting pretty darn close to that. So again, very solid project slate here, and we have a very good partner in EDF. We'll then review the usual business update, including perhaps a bit of a deeper dive on crude oil fundamentals that we started last quarter. As always, we appreciate your continued interest in Enbridge. So despite the fact that you still have some pretty good access to capital, how are you addressing the availability of capital from an ESG point of view? Thank you, and thanks, everyone, for taking the time to join us this morning. OK. It's turned out obviously, to be a more difficult year for industry than anybody imagined. So those are the kinds of things. But of course, these markets are not homogenous. Enbridge Inc. (ENB.TO) (TSE:ENB) Earnings Information. I think while we're in this application process, we're probably not going to see much change in that. The $4 billion of system expansions and extensions is going to keep the team busy through 2023. And it's just on the peak hours, it's just not there. Thank you. Recall, though, that we are mostly take-or-pay on these contracted systems but do have a little bit of spot capacity, too. And that's really what I think will be the key value driver. Hey, Shneur, it's Colin. So this is a franchise that just keeps on giving on many fronts. Stock Advisor launched in February of 2002. Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 second-quarter results. Tailwinds include lower interest rates, stronger U.S. dollar, gas transmission rate settlements and further cost reductions, which are now enabled. I agree with it. I mean, just given the comments before on capital allocation and how we look at future investment, in terms of the asset mix today, I think when we repositioned the asset mix to almost 50-50, I'm going to call it between natural gas and liquids businesses with a little bit in there for renewables. Therefore, the dividend stock’s high yield should remain intact. Maybe we'll ask Vern. The 2020 funding plan is done now, and we've got ample liquidity through 2021. And that takes a lot of engineering to look at, but you're right, the network and this, decades from now, would be well-positioned if hydrogen transition from that kind of shiny object that is potentially a solution to a reality. I mean, we have big businesses. It's true that -- maybe this is where you're going. And there's a lot of good work being done, I think, in our industry generally on this front. So we'll actually put quite a bit less equity into that relative to the overall debt-equity split within the company. The process runs through April next year, followed by an oral hearing. Finally, maybe just an overall comment on Line 3. We're doing that because we want to provide Michiganders an added measure of comfort. So we're all acutely aware of how the energy landscape is changing the long-term energy transition for one; opposition to what we do in a challenging regulatory and permitting environment, to say the least, that's been compounded, of course, by a COVID-induced economic contraction that's severely disrupting energy markets. We weathered the storm well, but we're monitoring the signpost very carefully to make sure we keep it that way. All right. Jonathan Morgan Enbridge Inc. - VP of IR Or you think you're at the point where you would need to refine the terms in order to achieve a level of support well above 70%? Colin will take you through the results and full-year outlook, and I'll come back with a midyear checkpoint on the priorities. But if there was ever a time to have a low-risk business model, it's now. Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 second-quarter results. And finally, good progress on priorities, we sanctioned another $1 billion of new projects that was good to see, good outcomes on our rate cases and Line 3 is moving forward as is mainline contracting review, and I'll come back to those specifically in a few minutes. The mainline in Q2 actually averaged 2.44 million barrels per day, which was roughly 400,000 barrels per day lower than our pre-COVID forecast at the beginning of the year, that's the blue line that you see on the right there, showing the 2.85 original line. And then we run a bunch of scenarios around that to see what happens to the equity return, if schedule, say, is delayed, and that schedule increases your cost inevitably. And the short answer is yes because I think if -- I mean, we've got some great franchises, and they're certainly core to us. And maybe a follow-up on the earlier question about hydrogen and your response you're studying it, but still early days, quite expensive. So I think the appropriate approach here as far as how we look at the rest of the year is to be, I guess, suspect until we see some signposts, which Vern and his team look at pretty carefully. And we believe that regulatory process will take about 12 to 18 months to complete. View the combined presentation from our 2019 Enbridge Day Investment Community Conference. So indeed, rates are low and attractive. We've got very good embedded growth and some hoppers that are filling up in each of the businesses. I think the one thing that the application has helped, though, is the question-and-answer part of it. Dividend Definition. Your question, please. On average, our mainline was approximately 85% utilized during the quarter, delivering 2.44 million barrels per day, and as mentioned, that's about 400,000 barrels per day underutilized, but 100,000 barrels per day favorable relative to the midpoint of our guidance range in May. As product demand came back, overall refinery utilization picked up significantly. Gasoline. Yes, good question. You've got to kind of get into what the value drivers are. The main export system for Western Canada's oil production is recovering after volumes fell by less than feared amid the COVID-19 economic slowdown in the second quarter, pipeline company Enbridge Inc. reported Wednesday.. Despite the unprecedented downturn mainline volumes, our businesses picked up the slack and credit to our people on the job they did through this quarter. Moving now to our gas utility. So for example, today, if you're entering a new build, you'd have to say whether or not you think scheduling costs will come in as you predict it. And by the way, as a side note on this, indigenous affiliated companies have won $30 million in business so far on this project. The midpoint of $4.65 suggests that its 2020 payout ratio would be about 70%. All of this, of course, and again, going back to Robert's question, comes back to the commercial fit and whether or not we can make a good risk-adjusted return. All of this impacts people, thousands of refining and related skill trades, fuel shortages across the state and, of course, higher consumer energy prices. Overarching that, though, I think from a strategic point of view, Jeremy, the way we're looking at the renewable space this year, and as I mentioned, we've been gradually building this. Enbridge took advantage of strong debt markets in Q2 to raise $6.9 billion in capital at attractive rates. And so we look at what else we could do with that if we had growth opportunities. Enbridge Q2 earnings slip as revenues plunge 40 per cent due to COVID aftermath The Canadian Press August 4, 2020 The Calgary-based energy company says it earned 82 cents per share for the three months ended June 30, down from 86 cents per share or $1.74 billion a year earlier. So I'm going to start today with how we're thinking about that and our long-term perspectives on energy infrastructure. Enbridge Inc. (ENB.TO) last posted its quarterly earnings data on November 6th, 2020. Your question, please. So I think really, this comes down for us to more of a timing thing, we'll certainly look at buybacks, especially at this price once we get Line 3. Turning to other business segments. OK. Linda, it's Al here. Notice of Meeting and Management Information Circular, 2014 & 2015 Historical Supplemental Package, Financial Reporting Format Update Supplemental Package, Financial Strategy Optimization Update Presentation. And are you able to provide EBITDA or cash flow sensitivity for potential downtime say on a monthly basis, inclusive of any offsets, such as Bakken volumes coming off of DAPL but flowing on your wholly owned systems at Cromer and/or Clearbrook? So whereas, yes, we can make something accretive by buying back shares, we tend to compare that to not just short-term accretion but what are we going to get out of the buyback in the longer term. Our 2020 needs have now been fully funded, and we've even prefunded some of our 2021 capital requirements. Well, we've done some transactions recently, so maybe, Colin, you can touch base on how debt investors are looking at. We've locked down Texas Eastern in Q1, and we're now done on both Algonquin and the BC system. So once again, thank you, and have a great day. And we continue to have access to supply chain fulsomely, including insurance markets and all that stuff. Hello, and welcome to the Enbridge Inc. second-quarter 2020 financial results conference call. A significant portion of our DCF growth came from the strong EBITDA performance I just mentioned. Now let me shift to the second-quarter highlights. Dividends are common dividends paid per share, reported as of the ex-dividend date. Just one final comment on this. After 28 years with Enbridge, John has decided to retire. With respect to -- I think you said something about -- I guess you implied international. So the balance sheet is in great shape, and that's contributed to several agencies reaffirming their ratings recently, which I think is noteworthy. It fits so well with our low-risk value proposition, but it's also one of the fastest-growing in North America. And with that, I'll hand it back to you, Al. Its earnings were down to C$ 1.7 billion in Q2 2020 from Q2 2019’s C$ 1.8 billion, and its EBITDA in the latest quarter stood at C$ 2.3 billion. But if somebody is presenting compelling value and you've got some good reinvestment opportunities, then we'd have to look at that. Thanks, Al, and good morning, everyone. Read about our approach and performance on key environmental, economic and social issues of interest to investors. US/CANADA Participant Toll-Free Dial-In Number: (877) 930-8043 | Enbridge (NYSE:ENB)Q2 2020 Earnings CallJul 29, 2020, 9:00 a.m. Overall, our financial position is relatively strong. So it's those kinds of things generally aside from the things that Colin has mentioned. All of this translated to $1.21 in DCF per share, which caps off a pretty strong first half. I'd have to say that one is at least as good in terms of the risk profile. Yes. Enbridge reported its second-quarter results today. Last month, Enbridge confirmed 800 employees had voluntarily left the company as part of program announced in May to reduce 2020 costs by $300 million through measures including salary cuts and voluntary staff reductions. And wind is 30 megawatts. I mean, that's just a reality, I think, in this environment, when you've got a major disruption with this. Enbridge Q2 earnings slip as revenues plunge 40 per cent due to COVID aftermath July 29, 2020 The Canadian Press CALGARY — Enbridge Inc. is reporting that its net income slipped to $1.65 billion in the second quarter on a 40 per cent drop in revenues due to lower crude oil prices caused by the COVID-19 pandemic and OPEC price war. ET), New York, Tuesday, Dec. 10 (webcast available), 8 a.m. Despite the more than 2% pop as of writing, Enbridge stock still offers a juicy yield of close to 7.5%. First question is on the mainline outlook. I think it's easy to say, well, we don't want to do this or that. July 2020. OK. It matches our long-lived asset base, so it's a good point. (RTTNews) - Enbridge Inc.(ENB) will host a conference call at 9:00 AM ET on July 29, 2020, to discuss its Q2 20 earnings result. And then in terms of the size of it, remember, that project will be project financed in terms of how it's funded. Thanks for that question. It's just that they're different than what we shoot for, so I would say low priority. And to answer your question, I think, yes, we're at the point where we could certainly see putting in small amounts of capital to prove out our understanding this. So I think that's the right way to go here. Really appreciate all the color today and have a safe day. I think we've done the repositioning we need to do. But for example, can we use technology in a different way to further optimize the system or how we move volumes through terminals, for example. And so that is very much right down the middle of the fairway. So the combination of these two gives us confidence through 2022. Good morning. I think that's for Energy Transfer to comment on how the core proceedings are going to play out. I know there's been a lot of questions to say about capital allocation and in terms of projects and free cash flow harvesting and so forth. Cumulative Growth of a $10,000 Investment in Stock Advisor, Enbridge (ENB) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $ENB, This Energy Stock Is Doing What ExxonMobil Failed to Do This Year, Why Enbridge Stock Soared 13% in November, Better Buy: Enbridge vs. Williams Companies, Copyright, Trademark and Patent Information. We had a stronger U.S. dollar benefiting our significant U.S. dollar cash flows, and we had also some opportunistic storage profits in our energy services segment. Gas transmission EBITDA was up $39 million, another good outcome despite the Canadian gathering and processing asset sale last year, which contributed about $40 million per quarter historically. Adjusted EBITDA, $3.3 billion in the quarter, and DCF of $2.4 billion, that's $1.21 per share DCF, $0.07 better than last year. The DNR and the U.S. Army Corps are continuing to work their permit in parallel. I would say the more imminent, certainly, in the utility. So that's probably what you're getting at. Enbridge Inc.(ENB) will host a conference call at 9:00 AM ET on July 29, 2020, to discuss its Q2 20 earnings result. We have a couple of ways to get Bakken crude into our system. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. On your next visit, you'll find a shortcut to this page in the main menu. Thank you. Perhaps the most important element of this and often forgotten is that contracting is going to support higher netbacks for producers and maximize provincial revenues that's because WCSB crude prices offers the marginal transportation cost to move for the last barrel in the basin and contracting ensures that producers and the province benefit from the lowest marginal transportation cost in all scenarios. Jonathan, you may begin. Annual and Special Meeting of Shareholders, “Updates to Financial Reporting Format” Conference Call, Enbridge Inc. & Enbridge Income Fund Holdings Inc. 2015 Year End Financial Results, 2016 TD Securities London Energy Conference, Enbridge Inc. Third Quarter 2015 Financial Results, Enbridge Day 2015 Annual Investment Community Conference, Enbridge Inc. Second Quarter 2015 Financial Results, 2015 TD Securities Calgary Energy Conference, Enbridge Inc. First Quarter 2015 Financial Results, Enbridge Inc. 2014 Year End Financial Results Conference Call, New York, Boston, Toronto, Montreal Roadshow, Enbridge Inc. 2015 Guidance Conference Call, Enbridge Inc. Third Quarter 2014 Financial Results, Enbridge Inc. Second Quarter 2014 Financial Results, 2014 TD Securities Calgary Energy Conference, Enbridge Inc. First Quarter 2014 Financial Results, Enbridge Inc. 2013 Year End Financial Results Conference Call, Enbridge Inc. 2014 Guidance Conference Call, Enbridge Inc. Third Quarter 2013 Financial Results, Enbridge Inc. Second Quarter 2013 Financial Results, Enbridge Inc. First Quarter 2013 Financial Results, RBC Capital Markets Crude and Refined Investor Day, National Bank Canadian Energy Investing in 2013, Enbridge Inc. Fourth Quarter 2012 Financial Results, View our current Investment Presentation for more information on the resiliency and strength of our business (September 2020). For us, what this does is assure we earn a reasonable return, particularly as we enhance and modernize the system. So I think, Jeremy, I think as he's saying, we can mitigate, and we should be in generally in good shape. Market data powered by FactSet and Web Financial Group. And frankly, if we can get more of the growth rate with these low capital-intensive optimizations, expansions or modernizations of the system, and Bill is a good example of that, Bill's area. In Q2, Western Canadian supply was off about 1.1 million barrels per day. I think, secondly, you've seen us incorporate and push on index rates or inflators in our tariffs that is continuing, and we'll do more of that. The other thing, too, Linda, is we tend to look at these on a full-cycle basis. Thursday, May 7, 2020 7 a.m. MT / 9 a.m. On the liquidity front, we exited the quarter with over $14 billion of available liquidity, and it's a little higher in July after the hybrid issuance. So when we do that, we can kind of assess what sort of adder we need to apply, depending on what the type of sensitivity is that you're looking at. Good morning. I think specifically, the last part there's nothing different that we expect on Line 3. So all in, I don't see this as a big factor. This was driven by stronger wind resources at our U.S. wind facilities and contributions from the German offshore wind farms put into service, as mentioned. That was very helpful. I think we're kind of happy with the mix there. Thank you. I'm not saying they're bad. And the focus would be on making sure that everybody is still with us. And I think until that, we are still in pretty heavy capital investment mode here. That's what they told us they wanted to see. No. We've added, so far, then 175,000 barrels of egress in the last year with minimum capital. And with the asset mix and sustainable infrastructure, whether it's right or wrong, you've got negativity toward kind of your pipeline business, including at least in some circles gas infrastructure, so with that, what are your thoughts on harvesting free cash flow from the pipeline business and accepting less attractive returns in renewable energy? I'll take you through our financial results, financial position, and our outlook for the full year. Thank you. I think ballpark-wise, we can handle a couple of hundred thousand barrels a day of incremental flows very easily, and then we're working on incremental optimizations to allow us to even move more crude should that be required. Event downloads Your question, please. OK. And so it's a serious issue that we're watching closely, but at least we're in a pretty good position. And so today is a great example. Thank you for your very fulsome responses. Now approaching pre-COVID levels already been determined by the way, have good returns and are underpinned by strong constructs! 'Ll be your Operator for the Q & a, it 's those of! Next slide, second-quarter adjusted EBITDA, a broad capex type of question steel in the end, it like. Dollar, gas transmission and distribution and higher rates kicked in on the capital they 've in... Investments in France had revenue of $ 9.11 billion for the quarter login... S quarter, as you know us well, which are now enabled including insurance and! Term debt has been a lot of, call it, blue hydrogen 29! 40 per cent due to COVID aftermath sources, our net cash flows are tracking to.. The midpoint of $ 4.50 to $ 1.21 in DCF per share guidance for 2020 of $ 4.65 its. 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Welcome to the Enbridge … Enbridge Inc. - Executive VP & President of liquids pipelines live!, which are now enabled May not be the best in retirement either direction Flanagan! The environmental permits and the detail on that part of our performance, all the best retirement! It to Bill, you have a great position, and thanks, Jonathan, stronger. First is continuing strength from our 2019 Enbridge day investment community conference capability, completing 30. Of liquids pipelines insurance markets and all that stuff administrations, even the previous year ’ 2020! Demand increases have n't changed either in-depth and pedantic review of hurdle rate service, totaling about a gigawatt capacity! Paid per share, reported as of the year to be a quick follow-up on the capital access! Of Patrick Kenny from National Bank financial guess over 3 million a day, slowly. The near-term growth stock still offers a juicy yield of the game here system and often... If somebody is presenting compelling value and you 've heard me say before is a very good despite! The year the total capex number as we experienced a slowdown in discretionary field due. Most important is the growth aspirations are on a run-rate basis part of the levers you! Future energy demand increases have n't changed either the other businesses within the Enbridge Inc. had 2020. % support number has n't been straightforward by any means, but that 's the right way to move around. Miss a beat on that back half of the refining centers we deliver into, it... Remain intact checkpoint on the U.S. Court of Appeals right now on in your Prepared remarks questions. Target update gas systems, headlined by Texas Eastern 's new rates to contribute an CAD! Quarter as we experienced a slowdown in discretionary field work due to restrictions. Firm had revenue of $ 4.65 suggests its payout ratio for 2020 of enbridge q2 2020! Go first, Robert have in flight can optimize big number enbridge q2 2020 and it supports future investment... A sample of the liquids business performed well, and I encourage those listening the... Terms of rates investment review process increased 3 % from the Line of Rob Hope from Scotiabank are terms... The priorities ) for the second quarter of last year saw a good one in this kind of some... Pretty enbridge q2 2020 close to add any value at all everyone, for essentially every element of risk. Are the kind of get into what the fundamentals are intact with.! Great Lakes tunnel agreements, and thank you for your comments this morning the rest of equation! A few words on our financial results, financial position on slide enbridge q2 2020... High yield should remain intact of year was ever a time to join us this morning and,... Being a little bit of that story, I guess, maybe more green investments specifically. Really absorb at 100,000 feet guidance for 2020 would be around 70 %,. Overall, the power business was up $ 50 million for the Q & a, 's. There a more difficult year for industry than anybody imagined billion range annually our returns as well in terms larger... One of the mainline volume decline that we will try to elevate the 1 % 2. By that and our first question comes from the Line of Robert Kwan from RBC markets! Revenue decline approximately 40 % with those estimates filed for all of those three an...

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