Renowned Wall Street ceremony is a ‘symbol of our company’s transformation’
Nearly 17 years ago, we wanted to answer the bell—as a North American energy leader, as a can’t-miss investment.
Today, within the halls of the New York Stock Exchange (NYSE), the verdict came loud and clear.
This morning, Enbridge’s leaders rang the NYSE’s fabled Opening Bell in celebration of our recently completed merger with Spectra Energy Corp—a move that cemented Enbridge Inc. as North America’s premier energy infrastructure company.
Much has happened since Oct. 30, 2001, when Enbridge first rang the NYSE’s Opening Bell to mark our listing (“ENB”) on the NYSE, the world’s leading stock exchange, and begin expanding our U.S. shareholder base.
“Today’s bell ringing at the NYSE is a symbol of our company’s transformation,” says Enbridge Inc. President and CEO Al Monaco. “We’ve grown significantly from what was once a primarily crude oil and liquids pipeline business into the largest diversified energy infrastructure company in North America. And for current and potential shareholders, we are a global, ‘must-own’ investment.”
From 2001 to 2017, from one Opening Bell to the next, Enbridge has authored a striking then-and-now story:
- Our enterprise value has grown from C$13 billion to C$166 billion;
- Our NYSE trading volume has skyrocketed from about 26,500 to 2.7 million shares a day;
- U.S. shareholder percentage of ENB shares outstanding has moved from 1.5% to 43%; and
- We’ve gone from a primarily Canadian company to one with a roughly even split, in terms of both assets and employees, between U.S. and Canada.
Along the way, Enbridge has brought about C$43 billion worth of capital projects into service, with another C$27 billion in secured projects scheduled to enter service by the end of the decade—the largest growth opportunity set in the business.
“We’ve capitalized on explosive growth in Canada’s oil sands, and we built a gas business from scratch,” says Mr. Monaco. “We’ve grown rapidly within a strong value proposition, and our investors have benefited nicely along the way.”
Today, Enbridge has first-and-last-mile connectivity to key supply basins and demand markets across North America. We have six strategic, diversified growth platforms—crude oil and liquids pipelines, gas pipelines, U.S. midstream, Canadian midstream, utilities, and renewable power—for further development.
Since 2001, we’ve delivered 12.6% dividend-per-share compound annual growth, and 15.1% total annual compound shareholder return, for our investors. We’re among the top 10 publicly traded energy companies in the world.
And we’ve done it while making safety our top priority, and supporting the local communities where we do business.
“Our vision for the future,” says Mr. Monaco, “is to continue earning the trust of our stakeholders, offering a must-own investment for our shareholders, fielding a proud and energized team, and delivering the energy people want and need.”
