Enbridge Expects To Grow EPS & EBITDA By CAGR Of 4%-6% Through 2025

(RTTNews) - Enbridge Inc. (ENB, ENB.TO) said it expects to grow earnings per share and EBITDA by a compound annual growth rate or "CAGR" of 4%-6% through 2025.

Enbridge announced an $3.3 billion of new accretive investments, which includes expanding USGC footprint through investments in oil and gas storage and furthering NG strategy by investing in Divert Inc., a RNG infrastructure company.

In addition, Enbridge said it reached a definitive agreement with Brookfield Infrastructure Partners (BIP) and Crestwood Equity Partners LP (CEQP) to acquire Tres Palacios Holdings LLC for US$335 million. The transaction is expected to be accretive in its first full year of ownership.

The transaction is expected to close in the second quarter of 2023.

Additionally, Enbridge noted that it agreed to buy a 10% stake in Divert Inc, food waste management company expanding into RNG to help major food retailers manage their waste more sustainably, for US$80 million.

The agreement includes further investment opportunities to develop wasted-food-to-RNG projects across the US providing line of site to greater than $1 billion of new capital growth which will be underpinned by long-term take-or-pay contracts.

Enbridge expects to close the transaction in March 2023.

Meanwhile, Enbridge stated that it plans to build a 14km natural gas pipeline to support ArcelorMittal Dofasco's plan to change the way it makes steel, eliminating coal as a fuel for ironmaking.