Enbridge Energy Partners Beats; Shares Bid Higher (EEP)

Enbridge Energy Partners EEP reports Q2 EPS $0.85 vs consensus of $0.71. Enbridge Energy Partners reports Q2 revenue $1.75 billion vs consensus of $1.61 billion. The company also raised their FY 2010 view to Net $410 to $430 million. "The Partnership's record earnings for the second quarter were primarily driven by strong performance in our Liquids segment and the continued benefits of our cost containment measures implemented in 2009. As a result of strong year-to-date results and our confidence in the continued strength of both our Liquids and Natural Gas segments we are increasing our full year earnings guidance to a range between $410 million and $430 million," said Terrance L. McGill, president of the Partnership's management company and of its general partner. Shares of EEP are bid higher on the after-hours. Enbridge Energy Partners, L.P. is engaged in owning and operating crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States.