Insider Buying: Gregory L. Ebel Acquires 6,200 Shares of Spectra Energy Corp. Stock (SE)
Spectra Energy Corp. (NYSE:SE) CEO Gregory L. Ebel acquired 6,200 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $40.42 per share, with a total value of $250,604.00. Following the transaction, the chief executive officer now directly owns 223,875 shares of the company’s stock, valued at approximately $9,049,028. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SE has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Spectra Energy Corp. in a research note on Monday, August 11th. 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. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.11.
Shares of Spectra Energy Corp. (NYSE:SE) opened at 40.96 on Thursday. 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 $41.59 and its 200-day moving average is $39.55. The company has a market cap of $27.480 billion and a P/E ratio of 25.69.
Spectra Energy Corp. (NYSE:SE) last posted its quarterly earnings results 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. Investors 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 3.28%. 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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