Spectra Energy Partners, LP Rating Lowered to Equal Weight at Morgan Stanley (SEP)
Spectra Energy Partners, LP (NYSE:SEP) was downgraded by analysts at Morgan Stanley to an “equal weight” rating in a research report issued to clients and investors on Wednesday, StockRatingsNetwork.com reports.
Several other analysts have also recently commented on the stock. Analysts at CIBC initiated coverage on shares of Spectra Energy Partners, LP in a research note to investors on Tuesday, December 10th. They set a “sector performer” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Spectra Energy Partners, LP from $47.00 to $48.00 in a research note to investors on Tuesday, November 5th. They now have a “neutral” rating on the stock. Finally, analysts at Tudor Pickering downgraded shares of Spectra Energy Partners, LP to a “hold” rating in a research note to investors on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Spectra Energy Partners, LP presently has a consensus rating of “Hold” and an average price target of $41.17.
Spectra Energy Partners, LP (NYSE:SEP) last announced its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.04. The company had revenue of $133.10 million for the quarter, compared to the consensus estimate of $63.51 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 132.7% on a year-over-year basis.
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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