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    ENB   CA29250N1050

ENBRIDGE INC.

(ENB)
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Enbridge : completes Acquisition of North America's Premier Crude Export Facility

10/12/2021 | 12:01pm EST

CALGARY, AB and INGLESIDE, Texas, Oct. 12, 2021 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today announced the closing of the acquisition of Moda Midstream Operating from Encap Flatrock Midstream for US$3.0 billion. The acquisition significantly advances the Company's U.S. Gulf Coast export strategy and connectivity to low-cost and long-lived reserves in the Permian and Eagle Ford basins.

The transaction provides Enbridge with a 100 percent operating interest in the Ingleside Energy Center, and related pipeline and logistics infrastructure, located near Corpus Christi, Texas, along with a 20 percent interest in the 670-thousand-barrel-per-day Cactus II Pipeline.

About Enbridge Inc.

Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,766 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.

FOR FURTHER INFORMATION PLEASE CONTACT:                                     

Media
Michael Barnes
Toll Free: (888) 992-0997
Email: media@enbridge.com

Investment Community
Jonathan Morgan
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com

Cision
View original content:https://www.prnewswire.com/news-releases/enbridge-completes-acquisition-of-north-americas-premier-crude-export-facility-301398311.html

SOURCE Enbridge Inc.

© Canada Newswire, source Canada Newswire English

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Analyst Recommendations on ENBRIDGE INC.
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Financials
Sales 2021 44 915 M 35 470 M 35 470 M
Net income 2021 5 458 M 4 310 M 4 310 M
Net Debt 2021 75 160 M 59 354 M 59 354 M
P/E ratio 2021 18,0x
Yield 2021 6,82%
Capitalization 99 191 M 78 414 M 78 332 M
EV / Sales 2021 3,88x
EV / Sales 2022 3,52x
Nbr of Employees 11 200
Free-Float 86,4%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 48,96 CAD
Average target price 55,68 CAD
Spread / Average Target 13,7%
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Managers and Directors
Albert Monaco President, CEO & Non-Independent Director
Vern D. Yu Chief Financial Officer & Executive Vice President
Gregory Lorne Ebel Non-Executive Chairman
Bhushan Ivaturi Chief Information Officer & Senior Vice President
Tyler W. Robinson Chief Compliance Officer & VP-Enterprise Security
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