Spectra Energy Partners, LP Receives Hold Rating from Barclays Capital (SEP)
Spectra Energy Partners, LP (NYSE:SEP)‘s stock had its “hold” rating restated by research analysts at Barclays Capital in a report released on Wednesday, StockRatingsNetwork.com reports. They currently have a $35.00 price target on the stock. Barclays Capital’s price objective indicates a potential downside of 17.67% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Scotiabank cut their price target on shares of Spectra Energy Partners, LP (NYSE:SEP) from $35.00 to $34.00 in a research note to investors on Wednesday. Separately, analysts at Jefferies Group initiated coverage on shares of Spectra Energy Partners, LP (NYSE:SEP) in a research note to investors on Wednesday, September 4th. They set a “hold” rating and a $45.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Spectra Energy Partners, LP (NYSE:SEP) from $46.00 to $47.00 in a research note to investors on Thursday, August 8th.
Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $40.75.
Spectra Energy Partners, LP (NYSE:SEP) traded down 2.83% during mid-day trading on Wednesday, hitting $42.51. 149,994 shares of the company’s stock traded hands. Spectra Energy Partners, LP has a 52-week low of $27.15 and a 52-week high of $47.73. The stock has a 50-day moving average of $42.81 and a 200-day moving average of $40.26. The company has a market cap of $4.625 billion and a price-to-earnings ratio of 27.16.
Spectra Energy Partners, LP (NYSE:SEP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01. The company had revenue of $56.90 million for the quarter, compared to the consensus estimate of $58.35 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Spectra Energy Partners, LP will post $1.57 earnings per share for the current fiscal year.
Spectra Energy Partners, LP (NYSE:SEP), through its subsidiaries, is engaged in the transportation and gathering of natural gas through interstate pipeline systems.
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