Spectra Energy Partners Reports in Line Results; Will Be Major Growth Engine After Enbridge Merger
While its general partner will change once Spectra Energy consummates its merger with Enbridge, the operations and outlook for Spectra Energy Partners will not. The Partnership reported full-year 2016 results in line with expectations. The company generated $1.87 billion of adjusted EBITDA versus consensus expectation of $1.86 billion. The Partnership’s US Transmission business was a bright spot, with increased earnings from expansion projects placed into service in the second half driving 13% i...Spectra Energy Partners is a partnership holding company. Through its subsidiaries and equity affiliates, the company is engaged in the transmission, storage and gathering of natural gas, and the transportation and storage of crude oil, through interstate pipeline systems in the U.S. and Canada. The company's operations and activities are managed by its general partner, Spectra Energy Partners (DE) GP, LP. The company manages its business in two reportable segments: U.S. Transmission, which provides transmission, storage, and gathering of natural gas in northeastern and southeastern U.S.; and Liquids, which provides transportation and storage of crude oil in central U.S. and Canada.
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