We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enbridge Energy (EEP) Q2 Earnings Beat, Revenues Decline Y/Y
Read MoreHide Full Article
Oil and natural gas transporter, Enbridge Energy Partners L.P. , reported second-quarter 2017 adjusted earnings of 14 cents per unit, which came above the Zacks Consensus Estimate of 13 cents. However, bottom line declined from the year-earlier profit of 22 cents.
Total revenue in the quarter fell to $596.5 million from the year-ago level of $621.3 million.
Enbridge Energy, L.P. Price, Consensus and EPS Surprise
The partnership has completed its restructuring and has now transitioned into a pure play liquids pipeline business.
Liquids: Adjusted operating income in the Liquids segment decreased to $268.3 million from $330.8 million over the comparable period in 2016. The downside was due to lower transportation rates attributable to sale of Ozark Pipeline system. Reduced short-haul transportation volumes due to the expiration of the Phase 5 and Phase 6 expansion surcharges of the Berthold rail loading facility on the North Dakota system was another factor behind the decline. This was partially offset by increased revenue on the Lakehead system.
Other: This unit reported adjusted loss of $4.8 million, wider than the loss of $2 million in the comparable period in 2016.
Distribution
Enbridge declared a quarterly cash distribution of 35 cents per unit, or $1.40 per unit on an annualized basis, for the quarter ended Jun 30, 2016. The distribution is payable on Aug 14 to unitholders of record at the close of business on Aug 7.
Global Partners delivered a positive earnings surprise of 1200.00% in the preceding quarter. The company beat estimates in three of the trailing four quarters with an average positive earnings surprise of 415.30%.
Braskem delivered a positive earnings surprise of 107.79% in the quarter ending September 2016.
TransCanada delivered a positive earnings surprise of 12.00% in the preceding quarter. It surpassed estimates in two of the trailing four quarters with an average positive earnings surprise of 4.06%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Enbridge Energy (EEP) Q2 Earnings Beat, Revenues Decline Y/Y
Oil and natural gas transporter, Enbridge Energy Partners L.P. , reported second-quarter 2017 adjusted earnings of 14 cents per unit, which came above the Zacks Consensus Estimate of 13 cents. However, bottom line declined from the year-earlier profit of 22 cents.
Total revenue in the quarter fell to $596.5 million from the year-ago level of $621.3 million.
Enbridge Energy, L.P. Price, Consensus and EPS Surprise
Enbridge Energy, L.P. Price, Consensus and EPS Surprise | Enbridge Energy, L.P. Quote
Segment Performance
The partnership has completed its restructuring and has now transitioned into a pure play liquids pipeline business.
Liquids: Adjusted operating income in the Liquids segment decreased to $268.3 million from $330.8 million over the comparable period in 2016. The downside was due to lower transportation rates attributable to sale of Ozark Pipeline system. Reduced short-haul transportation volumes due to the expiration of the Phase 5 and Phase 6 expansion surcharges of the Berthold rail loading facility on the North Dakota system was another factor behind the decline. This was partially offset by increased revenue on the Lakehead system.
Other: This unit reported adjusted loss of $4.8 million, wider than the loss of $2 million in the comparable period in 2016.
Distribution
Enbridge declared a quarterly cash distribution of 35 cents per unit, or $1.40 per unit on an annualized basis, for the quarter ended Jun 30, 2016. The distribution is payable on Aug 14 to unitholders of record at the close of business on Aug 7.
Zacks Rank & Other Stocks
Enbridge currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Global Partners LP (GLP - Free Report) , Braskem S.A. (BAK - Free Report) and TransCanada Corp. (TRP - Free Report) . All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Global Partners delivered a positive earnings surprise of 1200.00% in the preceding quarter. The company beat estimates in three of the trailing four quarters with an average positive earnings surprise of 415.30%.
Braskem delivered a positive earnings surprise of 107.79% in the quarter ending September 2016.
TransCanada delivered a positive earnings surprise of 12.00% in the preceding quarter. It surpassed estimates in two of the trailing four quarters with an average positive earnings surprise of 4.06%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>