Spectra Energy Corp. Hits New 1-Year High on Analyst Upgrade (SE)
Spectra Energy Corp. (NYSE:SE)’s share price reached a new 52-week high on Monday after CIBC raised their price target on the stock from $36.00 to $37.00, Analyst Ratings.Net reports. The company traded as high as $40.73 and last traded at $36.99, with a volume of 3,596,457 shares traded. The stock had previously closed at $36.79.
SE has been the subject of a number of other recent research reports. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.32.
The stock has a 50-day moving average of $35.30 and a 200-day moving average of $34.51. The company has a market cap of $24.803 billion and a P/E ratio of 23.74.
Spectra Energy Corp. (NYSE:SE) last released its earnings data on Tuesday, February 4th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, analysts predict that Spectra Energy Corp. will post $1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors 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 3.62%. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase 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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