July 31 (Reuters) - Enbridge ( ENB ) beat estimates for
second-quarter adjusted profit on Friday, helped by higher
volumes of liquids transported on its Mainline system.
Pipeline operators such as Enbridge ( ENB ) are benefiting from
increasing demand for natural gas, utility infrastructure and
power supply for data centers, enabling the company to generate
steady growth even amid geopolitical tensions and commodity
price volatility.
Its Mainline system, which moves nearly half of the crude in
the United States, saw second-quarter adjusted core profit rise
to C$1.57 billion ($1.12 billion) from C$1.5 billion a year ago.
The pipeline system is the largest in North America and
transports light and heavy crude oil, natural gas liquids and
refined products from Edmonton, Alberta, to various markets in
Canada and the U.S. Midwest.
The company reported adjusted profit of 63 Canadian cents
per share for the quarter ended June 30, beating analysts'
average expectation of 59 Canadian cents, according to data
compiled by LSEG.
($1 = 1.4021 Canadian dollars)