- Enbridge (NYSE:ENB) reported adjusted Q4 earnings that fell short of expectations, but says it remains confident it can deliver 10%-12% average annual EPS growth over the next four years.
- ENB also says its revenue increase to nearly $8.8B from $8.29B was partly the result of new income from its call for line fill on its Flanagan South and Seaway Crude pipeline projects; the completion of the two projects allowed large quantities of heavy crude oil from Alberta to the U.S. Gulf coast for the first time.
- ENB says it expects to place another C$9B of pipeline projects into service this year after completing 15 projects worth C$10B in 2014; one project that has not been completed is the reversal of the Line 9 pipeline, and ENB says earnings from its mainline system were impacted by “the absence of revenues from Line 9B."