Spectra Energy Corp. Rating Reiterated by Scotia Bank (SE)
Spectra Energy Corp. (NYSE:SE)‘s stock had its “sector perform” rating reiterated by investment analysts at Scotia Bank in a note issued to investors on Friday. They currently have a $42.00 target price on the stock, up from their previous target price of $41.00. Scotia Bank’s target price would suggest a potential upside of 5.50% from the stock’s previous close.
A number of other firms have also 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. 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. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.13.
Shares of Spectra Energy Corp. (NYSE:SE) opened at 39.81 on Friday. Spectra Energy Corp. has a 52-week low of $32.57 and a 52-week high of $43.12. The stock has a 50-day moving average of $42.0 and a 200-day moving average of $39.23. The company has a market cap of $26.713 billion and a P/E ratio of 24.81.
Spectra Energy Corp. (NYSE:SE) last announced its earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Spectra Energy Corp. will post $1.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 9th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.37%. The ex-dividend date 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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