Spectra Energy Corp. Given Average Rating of “Hold” by Brokerages (NYSE:SE)
Spectra Energy Corp. (NYSE:SE) has received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, StockRatingsNetwork.com reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.11.
In other Spectra Energy Corp. news, VP Allen C. Capps sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $40.06, for a total transaction of $300,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SE shares. Analysts at Zacks reiterated a “neutral” rating on shares of Spectra Energy Corp. in a research note on Monday. They now have a $42.00 price target on the stock. Separately, analysts at Scotia Bank reiterated a “sector perform” rating on shares of Spectra Energy Corp. in a research note on Friday, August 8th. They now have a $42.00 price target on the stock, up previously from $41.00. Finally, 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.
Spectra Energy Corp. (NYSE:SE) opened at 40.02 on Monday. Spectra Energy Corp. has a one year low of $32.57 and a one year high of $43.12. The stock’s 50-day moving average is $41.80 and its 200-day moving average is $39.37. The company has a market cap of $26.849 billion and a P/E ratio of 25.21.
Spectra Energy Corp. (NYSE:SE) last released its earnings data on Wednesday, August 6th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters 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 in the prior 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 $1.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 9th. Shareholders 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 3.35%. 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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