Enbridge ENB reported better-than-expected second-quarter earnings.
The Calgary, Canada-based company posted quarterly earnings of 756 million Canadian dollars ($693 million), or 91 Canadian cents per share, compared to 42 million Canadian dollars, or 5 Canadian cents per share, in the year-ago period. Excluding certain items, Enbridge's earnings rose to C$0.40 per share versus C$0.38 per share.
Analysts were expecting earnings of C$0.39 per share.
"Earnings for the first half of this year are in line with our expectations and our full year adjusted earnings per share guidance of $1.84 to $2.04 per share," said Al Monaco, President and Chief Executive Officer.
Enbridge also reaffirmed its EPS forecast for FY14.
Enbridge shares declined 2.55% to close at $48.98 yesterday.
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