Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Spectra Energy Partners Q1 Net Income Rises - Quick Facts

RELATED NEWS
Trade SEP now with 

Spectra Energy Partners, LP (SEP: Quote) Friday released the financial results for the first quarter ended 31 March 2012, reporting net income of $52.4 million for the quarter, higher than $48.9 million reported for the corresponding quarter last year. Net income per limited partner unit , however, declined to $0.48 from $0.50 in the year-ago quarter.

According to the company, the increase in net income and cash available for distribution reflects the addition of the Big Sandy Pipeline and East Tennessee's Northeastern Tennessee assets to the portfolio in July and September 2011, respectively. These increases were partially offset by lower revenues at Ozark.

Operating revenues for the quarter increased to $61.9 million from $51.20 million in the corresponding quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.47 per share on revenues of $64.61 million for the quarter. Analysts' estimates typically exclude special items.

Click here to receive FREE breaking news email alerts for Spectra Energy Partners LP and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.