Pipeline operator Enbridge beats quarterly profit estimates
Pipeline operators such as Enbridge are benefiting from an increase in demand for natural gas, primarily driven by LNG exports, as well as rising electricity demand.
Enbridge reported an adjusted core profit of C$1.38 billion ($995.02 million) from its gas transmission unit, up from C$1.08 billion a year earlier.
The company reported an adjusted profit of 65 Canadian cents per share for the quarter ended June 30, beating analysts' average expectation of 57 Canadian cents, according to data complied by LSEG.
($1 = 1.3869 Canadian dollars)
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