Enbridge Q4 profit beats estimates on record number of transports [Business News Network (BNN) Energy & Resources (Canada)]
Enbridge Inc (ENB)
Last enbridge inc earnings: 2/14 07:00 am
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Source: Business News Network
Enbridge Q4 profit beats estimates on record number of transports Canadian pipeline operator Enbridge Inc ( ENB.TO ) (ENB.N) posted a quarterly profit that beat analysts' estimate on Friday after transporting a record number of barrels of liquids including crude oil. The company's U.S.-listed shares were up 4.2 per cent at US$36 before the bell. Enbridge, North America's largest energy infrastructure company, said it transported 2.6 million barrels per day (bpd) of crude oil on its key Mainline system across Canada and the United States during the fourth quarter, up from 2.5 million bpd in the same quarter a year earlier. "Liquids pipelines volumes reached record levels in December and the demand outlook remains robust into 2018," Chief Executive Al Monaco said in a statement. The Calgary-based company's net income fell to $207 million, or 13 cents per share, in the fourth quarter ended Dec. 31, from $365 million, or 39 cents per share, a year earlier. Enbridge said it took a $4.55 bi
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