Enbridge Energy Partners LP said it would sell a 12.6 percent interest in its natural gas midstream business to partner Midcoast Energy Partners LP for $350 million.The deal will immediately add to the earnings of Midcoast Energy (MEP), which said it would finance it with debt.Enbridge Energy (EEP), a master limited partnership (MLP) of Canada's No. 1 pipeline company Enbridge Inc , said it would use the proceeds to help fund its pipeline expansion program."EEP's drop-down plans for MEP are pivotal components of its funding program," EEP President Mark Maki said in a statement on Thursday.
Enbridge Energy Partners, L.P. (the Partnership) owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. Shares of EEP fell by 1.81% or $-0.57/share to $30.94. In the past year, the shares have traded as low as $26.00 and as high as $33.49. On average, 740352 shares of EEP exchange hands on a given day and today's volume is recorded at 625537.
Enbridge Inc. (Enbridge) transports and distributes energy across North America. Shares of ENB fell by 0.94% or $-0.45/share to $47.35. In the past year, the shares have traded as low as $39.69 and as high as $49.25. On average, 695146 shares of ENB exchange hands on a given day and today's volume is recorded at 867733.
Enbridge Inc. (Enbridge) transports and distributes energy across North America. Shares of ENB fell by 1.12% or $-0.58/share to $51.38. In the past year, the shares have traded as low as $41.74 and as high as $53.73. On average, 988915 shares of ENB.TO exchange hands on a given day and today's volume is recorded at 1305479.
Minotaur Exploration Limited is an Australia-based company. Shares of MEP fell by 0.29% or $-0.06/share to $20.90. In the past year, the shares have traded as low as $16.96 and as high as $22.93. On average, 126764 shares of MEP exchange hands on a given day and today's volume is recorded at 41312.
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