Traders Buy Shares of Spectra Energy Partners, LP (SEP) on Weakness
Investors purchased shares of Spectra Energy Partners, LP (NYSE:SEP) on weakness during trading hours on Wednesday. $43.29 million flowed into the stock on the tick-up and $6.69 million flowed out of the stock on the tick-down, for a money net flow of $36.60 million into the stock. Of all companies tracked, Spectra Energy Partners, had the 7th highest net in-flow for the day. Spectra Energy Partners, traded down ($0.18) for the day and closed at $46.16
A number of research firms have recently weighed in on SEP. JPMorgan Chase & Co. reissued a “buy” rating on shares of Spectra Energy Partners, in a report on Sunday, May 29th. Stifel Nicolaus boosted their price target on Spectra Energy Partners, from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research raised Spectra Energy Partners, from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Thursday, April 21st. Piper Jaffray Cos. began coverage on Spectra Energy Partners, in a research note on Monday, August 1st. They issued an “overweight” rating for the company. Finally, Simmons began coverage on Spectra Energy Partners, in a research note on Monday, August 1st. They issued an “overweight” rating and a $60.00 price target for the company. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.62.
The stock has a market cap of $13.97 billion and a P/E ratio of 14.53. The firm has a 50 day moving average of $47.45 and a 200-day moving average of $46.91.
Spectra Energy Partners, (NYSE:SEP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.10. The firm earned $618 million during the quarter, compared to the consensus estimate of $645.60 million. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. On average, equities analysts anticipate that Spectra Energy Partners, LP will post $3.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.6638 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $2.66 annualized dividend and a dividend yield of 5.75%. This is a boost from Spectra Energy Partners,’s previous quarterly dividend of $0.65.
Several hedge funds and institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Spectra Energy Partners, by 101.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 274,640 shares of the company’s stock valued at $13,100,000 after buying an additional 137,972 shares during the last quarter. River Road Asset Management LLC purchased a new position in Spectra Energy Partners, during the fourth quarter valued at $24,818,000. Finally, Kayne Anderson Capital Advisors LP increased its position in Spectra Energy Partners, by 172.1% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,603,000 shares of the company’s stock valued at $124,149,000 after buying an additional 1,646,400 shares during the last quarter.
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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