Midcoast Energy Partners (MEP) Tops Q2 EPS by 4c
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Midcoast Energy Partners, L.P. Declares Distribution Increase and Reports Earnings for Second Quarter 2015
July 29, 2015 7:23 PM EDTHOUSTON, TX -- (Marketwired) -- 07/29/15 -- Midcoast Energy Partners, L.P. (NYSE: MEP)
SECOND QUARTER HIGHLIGHTS
Reported second quarter adjusted EBITDA and distributable cash flow of $24.5 and $19.4 million, respectively; distribution coverage of 1.19x. Announced fifth consecutive quarterly cash distribution increase, representing an 8.5 percent increase compared to the second quarter of 2014. Plan to reduce annual operating and administrative costs by over $50 million progressing ahead of schedule and complemented by additional actions. Enbridge Energy... More