Energy delivery company CenterPoint Energy Inc. (CNP) today posted net earnings of 31 cents per share, in line with Zacks Consensus Estimate of 31 cents and lower than last year’s earnings of 39 cents. The company’s core regulated operations reported strong earnings results during the quarter despite the economic downturn. Net revenues in the quarter increased 60% over a year ago to $2,515 million, driven by revenue increases at the natural gas distribution and competitive natural gas sales & services businesses. Operating income reported in the quarter was down 15% year-over-year to $287 million, due to lower natural gas and natural gas liquids prices, a decline in natural gas throughput from the traditional basins and reduced basis differentials. Operating income at CenterPoint’s electric transmission & distribution segment improved 8% over last year to $218 million, consisting of $187 million from the regulated electric transmission & distribution ...

On Friday, Texas-based pipeline operator Enbridge Energy Partners LP (EEP) reported second-quarter financial results for the period ending June 30, 2009. Earnings per limited partner unit, excluding non-cash items, came in at $0.74, well above our estimate of $0.52 and the Street’s estimate of $0.51. The partnership’s better-than-expected profit was driven by contribution from a new oil pipeline, cost saving initiatives and better results in the natural gas segment.

However, on a year-over-year basis, Enbridge’s adjusted earnings per limited partner unit declined 21.3%, while revenue plunged 55.3% to $1.3 billion. The negative comparison from the year-ago quarter was due to less favorable natural gas and natural gas liquids prices.

Earnings per unit during the quarter were also adversely affected by increase in the number of weighted average units. The partnership declared an unchanged cash distribution of $0.99 per unit or $3.96 per unit annualized.

Volume in Enbridge’s

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