Spectra Energy Corp. Price Target Raised to $37.00 at CIBC (SE)
Analysts at CIBC lifted their price objective on shares of Spectra Energy Corp. (NYSE:SE) from $36.00 to $37.00 in a research report issued to clients and investors on Friday, American Banking News reports. CIBC’s target price points to a potential upside of 0.57% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets upgraded shares of Spectra Energy Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, January 30th. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Morgan Stanley downgraded shares of Spectra Energy Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, January 8th. Finally, analysts at Argus reiterated a “buy” rating on shares of Spectra Energy Corp. in a research note to investors on Monday, December 30th. They now have a $34.92 price target on the stock, down previously from $38.00. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spectra Energy Corp. has a consensus rating of “Hold” and an average price target of $37.32.
Shares of Spectra Energy Corp. (NYSE:SE) traded up 0.66% on Friday, hitting $36.79. The stock had a trading volume of 3,285,034 shares. Spectra Energy Corp. has a 52-week low of $28.54 and a 52-week high of $37.11. The stock’s 50-day moving average is $35.1 and its 200-day moving average is $34.52. The company has a market cap of $24.651 billion and a price-to-earnings ratio of 24.03.
Spectra Energy Corp. (NYSE:SE) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $0.32 earnings per share. Spectra Energy Corp.’s revenue was up 16.2% compared to the same quarter last year. Analysts expect that Spectra Energy Corp. will post $1.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of 0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Spectra Energy Corp.’s previous quarterly dividend of $0.31.
Spectra Energy Corp (NYSE:SE), incorporated on July 28, 2006, through its subsidiaries and equity affiliates, owns and operates a portfolio of complementary natural gas-related energy assets and is a natural gas infrastructure company.
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