Enbridge Inc (USA) (ENB) Releases Earnings Results, Beats Expectations By $0.13 EPS

Enbridge Inc (USA) (ENB) reported quarterly earnings results on Thursday, May-12-2016. The company said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $0.63. The company posted revenue of $8795.00 million in the period, compared to analysts expectations of $12977.32 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Enbridge Inc (USA) opened for trading at $39.01 and hit $40.24 on the upside on Tuesday, eventually ending the session at $40, with a gain of 3.84% or 1.48 points. The heightened volatility saw the trading volume jump to 7,83,817 shares. Company has a market cap of $37,144 M.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines Processing and Energy Services; Sponsored Investments and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Company’s natural gas utility operations. Gas Pipelines Processing and Energy Services segment consists of investments in natural gas pipelines gathering and processing facilities and the Company’s energy services businesses along with renewable energy and transmission facilities. Sponsored Investments includes the Company’s 33.7% economic interest in Enbridge Energy Partners L.P. (EEP) and Enbridge’s interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

Enbridge Inc (USA)

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