Enbridge Energy Partners, L.P. Announces Conclusion of Strategic Review and Declares Distribution for First Quarter 2017
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
Company Research
Source: Marketwire
HOUSTON, TX -- (Marketwired) -- 04/28/17 -- Enbridge Energy Partners, L.P. (NYSE: EEP) (EEP or the Partnership) announced today that it has concluded its strategic review and taken several comprehensive actions to strengthen the Partnership's financial position and outlook. The actions, taken together with its general partner, Enbridge Energy Company, Inc. (EECI or the General Partner), a subsidiary of Enbridge Inc. (NYSE: ENB) (Enbridge), position the Partnership as a pure-play, liquids pipeline MLP with a low-risk commercial profile, stable cash flows, a strong balance sheet, healthy distribution coverage, visible growth and very limited external capital needs. Summary of the Actions Quarterly distributions are reduced from $0.583 per unit to $0.350 per unit or from $2.332 per unit to $1.40 per unit on an annualized basis. Pro forma 2017 annualized total distribution coverage and cash distribution coverage are expected to approximate 1.2x and 1.5x, respect
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