Enbridge Energy reports Q4 adjusted EPS 18c, consensus 26c Reports Q4 revenue $1.77B, consensus $1.65B. The company said Q4 adjusted net income of $87.2M was $29.2M lower than the same period from the prior year primarily due to lower natural gas liquids prices and increased operating and administrative expenses. The company said, "Adjusted earnings for 2012 are not reflective of our expectations primarily as a result of weak natural gas and NGL prices that impacted our performance. While we believe natural gas and NGL fundamentals will gradually improve, we remain focused on our objective of delivering sustainable and prudent growth to our unitholders."
News For EEP From The Last 14 Days
Check below for free stories on EEP the last two weeks.
Enbridge Energy upgraded at Credit Suisse As previously reported, Credit Suisse upgraded Enbridge Energy to Outperform from Neutral. The firm upgraded shares based on increased visibility into drop downs. Price target raised to $33 from $32.