08:09:11 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 848,767,814
Close 2014-11-05 C$ 52.04
Market Cap C$ 44,169,877,041
Recent Sedar Documents

FP/wire say Enbridge Q3 profit better than expected

2014-11-06 09:05 ET - In the News

The Financial Post reports in its Thursday, Nov. 6, edition that Enbridge posted stronger-than-expected third quarter profit on Wednesday. A Reuters dispatch to the Post reports that Enbridge is well on its way to achieve its full-year earnings forecast, although delays in restarting its newly reversed Line 9 pipeline dampened some of the positive impact of the increase in volumes. Enbridge said last month that work on Line 9 would be delayed after Canada's National Energy Board requested information on valve placement. Chief executive officer Al Monaco says Enbridge is still unable to estimate when Line 9 will be in service. Mr. Monaco says: "It's clear from our second look that we should have done a much better job of explaining our approach to the placement of valves along the route. And the NEB, I think, was right to question us on it." Enbridge says linefill on its new Flanagan South pipeline between Illinois and Cushing, Okla., is currently taking place with first barrels of Canadian heavy crude on track to reach the U.S. Gulf Coast via Flanagan and the Seaway pipeline by early December. Enbridge posted adjusted quarter profit of $345-million or 41 cents a share. Expectations were for a profit of 34 cents.

© 2024 Canjex Publishing Ltd. All rights reserved.