FERC changes to hit Enbridge Energy 2018 revenue by $100M, DCF by $60M [Seeking Alpha]
ENBRIDGE ENERGY PARTNERS (EEP)
Last enbridge energy partners earnings: 11/1 04:22 pm
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US:NYSE Investor Relations:
enbridgepartners.com/investor-relations/eep/events-and-presentations.aspx
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Source: Seeking Alpha
FERC changes to hit Enbridge Energy 2018 revenue by $100M, DCF by $60MEnbridge Energy Partners (EEP-3.8%) is sharply lower for a second straight day after the FERC said it wouldno longer permit entities organized as MLPs to recover an income tax allowance in their cost of service rates.EEP says the policy changes, if approved as announced, would reduce 2018 revenues by $100M and distributable cash flow by $60M; as a result, EEP lowers its 2018 DCF guidance range to $650M-$700M from its previous outlook of $720M-$770M and total distribution coverage to ~1x from 1.15x.Ladenburg Thalmann downgrades both EEP and Enbridge Energy Management (EEQ-5.4%) to Neutral from BuySee all stocks on the move »Now read:Enbridge Energy Partners: Income Investor Delight, With Caveats »
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