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Enbridge Sees Its Profit Increase During 3Q13

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November 6, 2013

Enbridge Inc. (NYSE: ENB), the largest transporter of Canadian crude to the U.S., said third-quarter profit increased as demand to move oil on its pipeline network exceeded its capacity.

Net income rose to C $421 million ($403 million), or 51 cents a share, from C $189 million, or 24 cents, a year earlier, the Calgary-based company said in a statement on Marketwired on Nov. 6. Excluding one-time items, per-share profit missed the 36- cent average of 14 analysts’ estimates compiled by Bloomberg.

Rising production from Alberta’s oil sands has increased ...

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