Enbridge Energy Partners Beats on the Top Line

Seth Jayson, The Motley Fool
Updated

Enbridge Energy Partners (NYS: EEP) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Enbridge Energy Partners met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue dropped, and GAAP earnings per share increased.

Gross margins grew, operating margins dropped, and net margins grew.

Revenue details
Enbridge Energy Partners reported revenue of $2.08 billion. The four analysts polled by S&P Capital IQ expected revenue of $2.10 billion on the same basis. GAAP reported sales were 4.2% lower than the prior-year quarter's $2.17 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.32. The 13 earnings estimates compiled by S&P Capital IQ anticipated $0.35 per share on the same basis. GAAP EPS were $1.09 for Q4 against -$0.01 per share for the prior-year quarter.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 21%, 170 basis points better than the prior-year quarter. Operating margin was 19.1%, 1,060 basis points worse than the prior-year quarter. Net margin was 11%, 1,320 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $2.13 billion. On the bottom line, the average EPS estimate is $0.39.

Next year's average estimate for revenue is $9.35 billion. The average EPS estimate is $1.48.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enbridge Energy Partners is outperform, with an average price target of $32.86.

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At the time thisarticle was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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