Enbridge Energy Partners, L.P. Soars After Updating Its Outlook
Shares of Enbridge Energy Partners (NYSE: EEP) jumped on Thursday and were up as much as 10.3% by 2:45 p.m. EST. Driving the surge was the master limited partnership's outlook for 2018 and beyond.
Enbridge Energy Partners announced that it expects to generate between $775 million to $825 million in distributable cash flow in 2018. That would provide it with enough money to cover its 9.5%-yielding distribution by 1.2 times at the midpoint of the guidance range.
Image source: Getty Images.
Source: Fool.com
