Enbridge Energy Q2 2012 Income Slips; Ups Cash Distribution by 2%

By MidnightTrader.com Staff,

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Enbridge Energy Partners, L.P. ( EEP ) reported adjusted net income of $96.8 million for the second quarter of 2012 on operating revenues of $1,551.1 million.

In the same period last year, adjusted net income was $107.7 million on operating revenues of $2,372 million.

The company has also declared a cash distribution of $0.5435 per unit payable August 14, 2012 to unitholders of record on August 7, 2012. This represents an increase of 2.1%, which is inline with the company's annual distribution growth target rate of 2% to 5%.

EEP fell 1.5% to $29.07 yesterday, moving closer to year low $24.66.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: EEP

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