Enbridge Energy Partners L.P. reported third-quarter 2017 adjusted earnings of 24 cents per unit, which missed the Zacks Consensus Estimate by a penny. The miss was mainly led by lower income from segments.
The bottom line, however, increased from the year-ago level of 9 cents.
Total revenues in the quarter were $616 million, down from the year-ago level of $1,120.6 million.
Segment Performance
Liquids: Adjusted operating income at the Liquids segment declined to $282.1 million from $304 million in the comparable period of 2016. The downside was due to reduced short-haul transportation volumes resulting from the expiration of the Phase 5 and Phase 6 expansion surcharges of the Berthold rail loading facility on the North Dakota system.
Other: The Natural Gas unit reported operating loss of $1.7 million compared with an operating loss of $2.3 million in the year-ago quarter.
Distribution
Enbridge Energy declared a quarterly cash distribution of 35 cents or $1.40 per unit on an annualized basis for the quarter ended Sep 30, 2017. The approved distribution remains unchanged from the previous quarter. The distribution is payable on Nov 14, to unitholders of record at the close of business as of Nov 7.
Q3 Price Performance
The pricing chart reveals that the company’s shares have outperformed the industry in the last three months. During this period, the company’s shares have lost 0.2% compared with the industry’s decline of 5.8%.
Zacks Rank & Key Picks
Enbridge Energy currently carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Braskem SA (BAK - Free Report) , ConocoPhillips (COP - Free Report) and SunCoke Energy Inc (SXC - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The largest petrochemical operator in Latin America, Braskem, delivered a positive earnings surprise of 68.54% in the preceding quarter.
ConocoPhillips, based in Houston, TX, is a major global exploration and production company. It delivered an average positive earnings surprise of 152.34% in the last four quarters.
SunCoke Energy produces metallurgical coke in the United States. The company delivered average positive earnings surprise of 113.52% in the last four quarters.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Enbridge Energy Partners L.P. reported third-quarter 2017 adjusted earnings of 24 cents per unit, which missed the Zacks Consensus Estimate by a penny. The miss was mainly led by lower income from segments.
The bottom line, however, increased from the year-ago level of 9 cents.
Total revenues in the quarter were $616 million, down from the year-ago level of $1,120.6 million.
Segment Performance
Liquids: Adjusted operating income at the Liquids segment declined to $282.1 million from $304 million in the comparable period of 2016. The downside was due to reduced short-haul transportation volumes resulting from the expiration of the Phase 5 and Phase 6 expansion surcharges of the Berthold rail loading facility on the North Dakota system.
Other: The Natural Gas unit reported operating loss of $1.7 million compared with an operating loss of $2.3 million in the year-ago quarter.
Distribution
Enbridge Energy declared a quarterly cash distribution of 35 cents or $1.40 per unit on an annualized basis for the quarter ended Sep 30, 2017. The approved distribution remains unchanged from the previous quarter. The distribution is payable on Nov 14, to unitholders of record at the close of business as of Nov 7.
Q3 Price Performance
The pricing chart reveals that the company’s shares have outperformed the industry in the last three months. During this period, the company’s shares have lost 0.2% compared with the industry’s decline of 5.8%.
Zacks Rank & Key Picks
Enbridge Energy currently carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Braskem SA (BAK - Free Report) , ConocoPhillips (COP - Free Report) and SunCoke Energy Inc (SXC - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The largest petrochemical operator in Latin America, Braskem, delivered a positive earnings surprise of 68.54% in the preceding quarter.
ConocoPhillips, based in Houston, TX, is a major global exploration and production company. It delivered an average positive earnings surprise of 152.34% in the last four quarters.
SunCoke Energy produces metallurgical coke in the United States. The company delivered average positive earnings surprise of 113.52% in the last four quarters.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on COP - FREE
Get the latest research report on BAK - FREE
Get the latest research report on SXC - FREE