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Enbridge Energy (EEP) Q2 Earnings Beat, Revenues Decline Y/Y


Oil and natural gas transporter, Enbridge Energy Partners L.P. EEP, 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.


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, Braskem S.A. BAK and TransCanada Corp. TRP. 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%.

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