Aug 1 (Reuters) - Enbridge ( ENB ) beat
second-quarter profit estimates on Friday, boosted by
contributions from recently acquired U.S. gas utilities, higher
margins in Ontario distribution, and strong earnings from its
gas transmission business.
Pipeline operators such as Enbridge ( ENB ) are benefiting from an
increase in demand for natural gas, primarily driven by LNG
exports, as well as rising electricity demand.
Enbridge ( ENB ) reported an adjusted core profit of C$1.38 billion
($995.02 million) from its gas transmission unit, up from C$1.08
billion a year earlier.
The company reported an adjusted profit of 65 Canadian cents
per share for the quarter ended June 30, beating analysts'
average expectation of 57 Canadian cents, according to data
complied by LSEG.
($1 = 1.3869 Canadian dollars)
(Reporting by Pooja Menon in Bengaluru; Editing by Shinjini
Ganguli)