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Last $33.28 USD
Change Today -0.61 / -1.80%
Volume 436.3K
As of 8:04 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).

enbridge energy partners lp (EEP) Key Developments

Enbridge Energy Partners, L.P. Presents at Credit Suisse 2015 MLP and Energy Logistics Conference, Jun-23-2015 02:30 PM

Enbridge Energy Partners, L.P. Presents at Credit Suisse 2015 MLP and Energy Logistics Conference, Jun-23-2015 02:30 PM. Venue: Credit Suisse Offices, One Madison Avenue, 12th Floor, New York, New York, United States. Speakers: Mark Andrew Maki, Principal Executive Officer of Enbridge Energy Company Inc, President of Enbridge Energy Company Inc, President of Enbridge Management and Director of Enbridge Energy Company Inc, Stephen J. Neyland, Vice President of Finance of Enbridge Energy Company Inc and Vice President of Finance - Enbridge Management.

Enbridge Energy Partners, L.P. Provides Capital Expenditure Guidance for the Year 2015

Enbridge Energy Partners, L.P. announced that expects capital expenditures for 2015 is to be approximately $1.25 billion, which includes $97 million of maintenance capital. These expenditures are presented net of joint funding. And its 2015 capital expenditure forecast was modestly reduced due to refinements of its anticipated capital spend profile. The partnership's expected funding needs for its base capital program remain manageable.

Enbridge Energy Partners, L.P. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Declares Cash Distribution, Payable on May 15, 2015

Enbridge Energy Partners, L.P. reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating revenue of USD 1,428.6 million compared to USD 2,079.6 million a year ago. Operating income was USD 239.6 million compared to USD 214.7 million a year ago. Income before income tax expense was USD 220.2 million compared to USD 157.7 million a year ago. Net income was USD 217.8 million compared to USD 155.7 million a year ago. Net income allocable to common units and i-units was USD 85.9 million compared to USD 58.9 million a year ago. Basic and diluted income per common unit and i-unit was USD 0.26 compared to USD 0.18 a year ago. Adjusted operating income was USD 275.5 million compared to USD 212.2 million a year ago. Adjusted net income was USD 142.8 million compared to USD 102.9 million a year ago. Adjusted net income allocable to common units and i- units was USD 88.5 million compared to USD 68.3 million a year ago. Adjusted net income per common unit and i-unit was USD 0.26 compared to USD 0.20 a year ago. Net cash provided by operating activities was USD 380.5 million compared to USD 210.8 million a year ago. Adjusted EBITDA was USD 432.2 million compared to USD 338.7 million a year ago. The company announced that the board of directors of the delegate of its general partner has declared a cash distribution of USD 0.57 per unit, or USD 2.28 per unit on an annualized basis, payable on May 15, 2015 to unit holders of record as of the close of business on May 8, 2015.

Enbridge Energy Partners, L.P., Q1 2015 Earnings Call, May 01, 2015

Enbridge Energy Partners, L.P., Q1 2015 Earnings Call, May 01, 2015

United Refining Company and Kiantone Pipeline Corporation, Enbridge Energy Partners, L.P. and Enbridge Inc. Enters into Letter Agreement

On March 27, 2015, United Refining Company and Kiantone Pipeline Corporation, on the one hand, and Enbridge Energy Partners, L.P. and Enbridge Inc. on the other hand, entered into an amendment to that certain letter agreement with respect to approximately 88.85 miles of pipeline owned by the Carriers, which transports crude oil from Canada to the company's Kiantone Pipeline in West Seneca, New York and serves the company's refinery in Warren, Pennsylvania. Pursuant to the Amendment, the date by which the company and the Carriers will negotiate the terms and conditions of a put and call option agreement for Line 10 has been changed from on or before March 27, 2015 to on or before April 1, 2015. Pursuant to the Put and Call Agreement, the company would have the right to purchase the Line 10 Pipeline from the Carriers at any time during the next approximately eleven years and the Carriers would have the right to require the company to purchase the Line 10 Pipeline over a two year period starting at the later of approximately nine years or when all of the replacements are completed.

 

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Industry Analysis

EEP

Industry Average

Valuation EEP Industry Range
Price/Earnings 45.5x
Price/Sales 1.5x
Price/Book 2.9x
Price/Cash Flow 11.4x
TEV/Sales NM Not Meaningful
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