Spectra Energy Corp. PT Raised to $41.00 at Argus (SE)
Equities research analysts at Argus boosted their price objective on shares of Spectra Energy Corp. (NYSE:SE) from $38.00 to $41.00 in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Argus’ price objective would indicate a potential upside of 10.75% from the stock’s previous close.
Shares of Spectra Energy Corp. (NYSE:SE) traded up 1.92% during mid-day trading on Tuesday, hitting $37.73. 2,825,328 shares of the company’s stock traded hands. Spectra Energy Corp. has a one year low of $28.54 and a one year high of $37.37. 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 $25.279 billion and a P/E ratio of 23.88.
Spectra Energy Corp. (NYSE:SE) last released its 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. Shareholders 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 a positive change from Spectra Energy Corp.’s previous quarterly dividend of $0.31.
A number of other analysts have also recently weighed in on SE. Analysts at CIBC raised their price target on shares of Spectra Energy Corp. from $36.00 to $37.00 in a research note on Friday. Separately, analysts at BMO Capital Markets upgraded shares of Spectra Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Morgan Stanley downgraded shares of Spectra Energy Corp. from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.
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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