NEW YORK (TheStreet) -- Enbridge Energy Partners (EEP) shares are climbing, up 0.66% to $39.50, in early market trading on Friday following the release of the crude oil and petroleum transportation company's fourth quarter earnings results.
The Houston-based company reported fourth quarter earnings of 27 cents per diluted share, ahead of the 21 cents per share analysts were expecting, and more than double the 12 cents per share the company reported during the same period last year.
Exclusive Report:Jim Cramer's Best Stocks for 2015
Revenue for the period increased 9% to $2.07 billion from $1.9 billion the previous year, beating analysts $2 billion expectations for the period.
The company's liquids segment experienced the highest increase in sales during the period, jumping 65% to $306.4 million from $185.8 million during the same period last year. The company said that this was spurred by a 20% increase in total liquid transportation volumes thanks to strong supply growth in western Canada and the Bakken Formation.
Enbridge Energy Partners also guided current year adjusted operating income up 12% over the previous year to between $1.68 billion and $1.78 billion.
TheStreet Ratings team rates ENBRIDGE ENERGY PRTNRS -LP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENBRIDGE ENERGY PRTNRS -LP (EEP) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, solid stock price performance, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: EEP Ratings Report