UPDATE: Enbridge Posts Higher Q2 Earnings

Enbridge

reported better-than-expected second-quarter earnings. The Calgary, Canada-based company posted quarterly earnings of 756 million Canadian dollars ($693 million), or 91 Canadian cents per share, compared to 42 million Canadian dollars, or 5 Canadian cents per share, in the year-ago period. Excluding certain items, Enbridge's earnings rose to C$0.40 per share versus C$0.38 per share. Analysts were expecting earnings of C$0.39 per share. "Earnings for the first half of this year are in line with our expectations and our full year adjusted earnings per share guidance of $1.84 to $2.04 per share," said Al Monaco, President and Chief Executive Officer. Enbridge also reaffirmed its EPS forecast for FY14. Enbridge shares declined 2.55% to close at $48.98 yesterday.