Pipeline used to carry crude oil sits at the Superior, Wis., terminal of Enbridge Energy, June 29, 2018. THE CANADIAN PRESS/AP/Jim Mone

CALGARY — Enbridge Inc. says its most recent quarter delivered a profit of $500 million as it announced the acquisition of three U.S. gas utilities.

The Calgary-based pipeline giant says its second-quarter profit compared with $1.3 billion a year earlier.

Enbridge’s third-quarter profit amounted to 26 cents per share for the quarter ended September 30 compared with 63 cents per share in the same quarter a year earlier.

On an adjusted basis, Enbridge said it earned 62 cents per share, up from an adjusted profit of 67 cents per share a year earlier.

The results cover the period when Enbridge entered into three agreements with Dominion Energy, Inc. to acquire The East Ohio Gas Company, Questar Gas Company and its related Wexpro companies, and Public Service Company of North Carolina for US$14.0 billion.

Enbridge says the acquisitions are still subject to closing conditions and regulatory approvals but are expected to close in 2024.

This report by The Canadian Press was first published Nov. 3, 2023.

Companies in this story: (TSX:ENB)

The Canadian Press

News from © The Canadian Press, 2023. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0071 Pride Upkeep 2024 Packages
    0071 Pride Upkeep 2024 Packages
  • 0070 Sask Oil Show 2024 pre-register
    0070 Sask Oil Show 2024 pre-register
  • 0068 Sask Oil Show 2024 booth
    0068 Sask Oil Show 2024 booth
  • 0067 PFM SaskWorks Payroll Investment Plan
    0067 PFM SaskWorks Payroll Investment Plan
  • 0066 WBPC Promo video 30 seconds
    0066 WBPC Promo video 30 seconds
  • 0065 Anova Resources field operator Oxbow
    0065 Anova Resources field operator Oxbow
  • 0064 Estevan OTS
    0064 Estevan OTS
  • 0063 Turnbull Excavating hiring crusher
    0063 Turnbull Excavating hiring crusher
  • 0062 TED_EPAC_Technology_30
    0062 TED_EPAC_Technology_30
  • 0061 SIMSA 2024 For Sask Buy Sask
    0061 SIMSA 2024 For Sask Buy Sask
  • 0060 Arizona Lithium Lease building
    0060 Arizona Lithium Lease building
  • 0059 Southeast College Heavy Equipment Operator
    0059 Southeast College Heavy Equipment Operator
  • 0058 Royal Helium Steveville opens anonymous rocket
    0058 Royal Helium Steveville opens anonymous rocket
  • 0055 Smart Power Be Smart with your Power office
    0055 Smart Power Be Smart with your Power office
  • 0053 Kingston Midstream Westspur Alameda Click Before You Dig large text
    0053 Kingston Midstream Westspur Alameda Click Before You Dig large text
  • 0052 Predator Inspections
    0052 Predator Inspections
  • 0051 JML Hiring Pumpjack assembly
    0051 JML Hiring Pumpjack assembly
  • 0049 Scotsburn Dental soft guitar
    0049 Scotsburn Dental soft guitar
  • 0046 City of Estevan This is Estevan
    0046 City of Estevan This is Estevan
  • 0041 DEEP Since 2018 now we are going to build
    0041 DEEP Since 2018 now we are going to build
  • 0032 IWS Summer hiring rock trailer music
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0018 IWS Hiring Royal Summer
  • 0015 Latus Viro
    0015 Latus Viro
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0002 gilliss casing services
    0002 gilliss casing services
  • 9002 Pipeline Online 30 sec EBEX
    9002 Pipeline Online 30 sec EBEX
  • 9001