Spectra Energy Partners, LP (SEP) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “SPECTRA ENERGY PERTNERS LP is a growth oriented, Delaware master limited partnership recently formed by Spectra Energy Corp, headquartered in Houston, Texas, to own and operate natural gas transportation and storage assets. The company is one of the largest operators of natural gas pipelines and storage facilities in North America. “
Several other brokerages have also issued reports on SEP. Jefferies Group boosted their price objective on shares of Spectra Energy Partners, from $53.00 to $54.00 and gave the company a buy rating in a report on Monday, July 25th. Simmons assumed coverage on shares of Spectra Energy Partners, in a report on Monday, August 1st. They issued an overweight rating and a $60.00 price objective on the stock. Piper Jaffray Cos. assumed coverage on shares of Spectra Energy Partners, in a report on Monday, August 1st. They issued an overweight rating on the stock. Mitsubishi UFJ Financial Group assumed coverage on shares of Spectra Energy Partners, in a research note on Thursday, July 21st. They set a neutral rating and a $55.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Spectra Energy Partners, from $50.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Spectra Energy Partners, has an average rating of Buy and an average target price of $53.92.
Spectra Energy Partners, (NYSE:SEP) traded up 0.271% during mid-day trading on Thursday, hitting $42.585. 159,125 shares of the stock were exchanged. The firm has a market cap of $12.89 billion, a P/E ratio of 13.404 and a beta of 0.66. The company has a 50 day moving average of $44.42 and a 200 day moving average of $46.49. Spectra Energy Partners, has a 12-month low of $36.21 and a 12-month high of $50.48.
Spectra Energy Partners, (NYSE:SEP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.10. The company had revenue of $618 million for the quarter, compared to analysts’ expectations of $645.60 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. On average, equities analysts anticipate that Spectra Energy Partners, will post $3.15 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of SEP. Cantab Capital Partners LLP boosted its position in Spectra Energy Partners, by 16.7% in the second quarter. Cantab Capital Partners LLP now owns 2,386 shares of the company’s stock valued at $113,000 after buying an additional 342 shares in the last quarter. Archford Capital Strategies LLC boosted its position in Spectra Energy Partners, by 2,111.3% in the second quarter. Archford Capital Strategies LLC now owns 3,516 shares of the company’s stock valued at $166,000 after buying an additional 3,357 shares in the last quarter. Balentine LLC acquired a new position in Spectra Energy Partners, during the second quarter valued at $224,000. Cedar Wealth Management LLC acquired a new position in Spectra Energy Partners, during the second quarter valued at $247,000. Finally, Rafferty Asset Management LLC acquired a new position in Spectra Energy Partners, during the first quarter valued at $254,000.
About Spectra Energy Partners,
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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