Spectra Energy Partners Reports Third Quarter 2018 Results and Announces Quarterly Cash Distribution Increase
SPECTRA ENERGY PARTNERS (SEP)
Last spectra energy partners earnings: 11/1 04:15 pm
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US:NYSE Investor Relations:
spectraenergypartners.com/investors
Company Research
Source: PR Newswire
HOUSTON, Nov. 1, 2018 /PRNewswire/ - Spectra Energy Partners, LP (NYSE: SEP) today reported net income of $377 million, of which $366 million is attributable to SEP's controlling interests, for the third quarter ended September 30, 2018, with earnings per limited partner unit of $0.75.THIRD QUARTER HIGHLIGHTS:NEXUS and TEAL projects placed into service Entered into definitive agreement with Enbridge and Enbridge (U.S.) Inc. on August 24, 2018, under which Enbridge will acquire all of the outstanding SEP public common units in an all stock-for-unit transaction at a ratio of 1.111 Enbridge common shares per SEP common unit Announced quarterly distribution increase, representing an approximate 7 percent increase over the distribution declared in November 2017 FINANCIAL RESULTSFor the quarter, ongoing earnings before interest, taxes, depreciation and amortization (EBITDA) were $561 million, compared with $554 million in the prior-year quarter. Ongoing net income from controlling interests
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