Enbridge Earnings: ENB Stock Pops 2% on Q3 Results

Enbridge (NYSE:ENB) earnings for the energy transportation company’s third quarter of 2019 have ENG stock up on Friday. This is due to its adjusted EPS of 42 cents on revenue of $6.64 billion. That EPS matches what Wall Street was estimating for the quarter.

Enbridge Earnings: ENB Stock Pops 2% on Q3 Results

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Let’s take a closer look at the most recent Enbridge earnings report.

  • Adjusted per-share earnings come roughly the same as in Q3 2018.
  • Revenue for the quarter is up 1.22% from $6.56 billion in the same period of the year prior.
  • The Enbridge earnings report also has income coming in at $717.39 million.
  • That’s better than losses reported during the same time last year.

Al Monaco, President and CEO of Enbridge, says this about the Q3 2019 ENB stock earnings.

“The continued strength of our operating performance reflects the quality and predictability of our business model. Once again, we saw strong throughput on our Mainline system during the quarter, with demand for crude volumes out of Western Canada and the Bakken through to U.S. Gulf Coast markets.”

The Enbridge earnings report has the company reaffirming its outlook for 2019. That includes its EPS range of $3.25 to $3.48. However, the company does note that it is expecting EPS to come in above the midpoint of its outlook.

ENB stock was up 2.01% as of Friday afternoon. The stock is also up 16.31% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/enbridge-earnings-boost-enb-stock/.

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