Spectra Energy Corp. (SE) Releases Quarterly Earnings, Misses Expectations By $0.08 EPS
Spectra Energy Corp. (NYSE:SE) announced its earnings results on Wednesday. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.08, AmericanBankingNews.com reports. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.29 billion.
A number of research firms have recently commented on SE. Analysts at Argus raised their price target on shares of Spectra Energy Corp. from $41.00 to $45.00 in a research note on Monday, June 16th. They now have a “buy” rating on the stock. On the ratings front, analysts at Jefferies Group raised their price target on shares of Spectra Energy Corp. from $36.00 to $38.00 in a research note on Thursday, June 5th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Spectra Energy Corp. in a research note on Thursday, May 15th. They now have a $42.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.67.
Shares of Spectra Energy Corp. (NYSE:SE) opened at 40.22 on Wednesday. Spectra Energy Corp. has a 52 week low of $32.57 and a 52 week high of $43.12. The stock’s 50-day moving average is $42.2 and its 200-day moving average is $39.2. The company has a market cap of $26.975 billion and a P/E ratio of 24.62.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 9th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, August 8th.
Spectra Energy Corp (NYSE:SE) 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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