Spectra Energy Partners, LP (SEP) Sees Large Volume Increase
Spectra Energy Partners, LP (NYSE:SEP) shares saw an uptick in trading volume on Wednesday . 995,687 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 436,551 shares.The stock last traded at $45.68 and had previously closed at $46.34.
A number of equities analysts recently issued reports on SEP shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Spectra Energy Partners, in a research report on Sunday, May 29th. Stifel Nicolaus lifted their price target on shares of Spectra Energy Partners, from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Spectra Energy Partners, from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Thursday, April 21st. Piper Jaffray Cos. assumed coverage on shares of Spectra Energy Partners, in a research report on Monday, August 1st. They set an “overweight” rating for the company. Finally, Simmons assumed coverage on shares of Spectra Energy Partners, in a research report on Monday, August 1st. They set an “overweight” rating and a $60.00 price target for the company. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $54.62.
The firm has a 50 day moving average of $47.45 and a 200-day moving average of $46.91. The firm has a market cap of $13.99 billion and a PE ratio of 14.56.
Spectra Energy Partners, (NYSE:SEP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.10. The firm had revenue of $618 million for the quarter, compared to analyst estimates of $645.60 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that Spectra Energy Partners, LP will post $3.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 15th will be paid a $0.6638 dividend. The ex-dividend date is Thursday, August 11th. This represents a $2.66 annualized dividend and a dividend yield of 5.66%. This is a positive change from Spectra Energy Partners,’s previous quarterly dividend of $0.65.
An institutional investor recently raised its position in Spectra Energy Partners, stock. Kayne Anderson Capital Advisors LP increased its stake in Spectra Energy Partners, LP (NYSE:SEP) by 172.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,603,000 shares of the company’s stock after buying an additional 1,646,400 shares during the period. Spectra Energy Partners, accounts for 1.4% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 19th largest position. Kayne Anderson Capital Advisors LP owned approximately 0.90% of Spectra Energy Partners, worth $124,149,000 as of its most recent filing with the SEC.
Spectra Energy Partners, L.P., through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids (NGLs). The Company’s segments include U.S. Transmission, Liquids and Other.
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