01:38:21 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 924,352,708
Close 2016-05-02 C$ 51.76
Market Cap C$ 47,844,496,166
Recent Sedar Documents

Globe/CP say Enbridge rethinks U.S. nat gas business

2016-05-03 08:02 ET - In the News

The Globe and Mail reports in its Tuesday, May 3, edition that Enbridge Energy Partners LP is looking at a possible sale of its main natural gas business in the United States, which has experienced a 51-per-cent decline in first quarter revenue and a higher operating loss compared with last year. A Canadian Press dispatch to The Globe reports that the Enbridge-run limited partnership, which is primarily involved in transporting oil from Western Canada and North Dakota, says it is reviewing its holdings in Midcoast Energy Partners and Midcoast Operating LP -- its main natural gas holdings. Enbridge Energy Partners also announced a 43-per-cent decline in profit and a 26-per-cent decline in revenue in the first quarter, mainly attributed to weakness in natural gas. Total revenue was $1.06-billion, including $431.9-million from natural gas (all figures U.S.). That is down from $1.43-billion, including $873.5-million from natural gas, in the first quarter of 2015. Net income dropped to $80-million or seven cents per unit from $140.1-million or 26 cents. Adjusted net income dropped 20 per cent to $113.8-million or 17 cents from $142.8-million or 26 cents.

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