Zacks Upgrades Spectra Energy Partners, to “Neutral” (SEP)
Spectra Energy Partners, (NYSE:SEP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Thursday. The firm currently has a $56.30 target price on the stock. Zacks‘s price target suggests a potential upside of 1.81% from the company’s current price.
Separately, analysts at Jefferies Group raised their price target on shares of Spectra Energy Partners, from $48.00 to $50.00 in a research note on Thursday, June 5th. They now have a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Spectra Energy Partners, presently has a consensus rating of “Hold” and an average price target of $51.48.
Shares of Spectra Energy Partners, (NYSE:SEP) traded up 0.25% on Thursday, hitting $55.44. 37,717 shares of the company’s stock traded hands. Spectra Energy Partners, has a one year low of $40.00 and a one year high of $57.56. The stock has a 50-day moving average of $53.41 and a 200-day moving average of $51.24. The company has a market cap of $15.963 billion and a price-to-earnings ratio of 12.30.
Spectra Energy Partners, (NYSE:SEP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.61 by $0.02. The company had revenue of $531.00 million for the quarter, compared to the consensus estimate of $560.12 million. During the same quarter last year, the company posted $0.36 earnings per share. Spectra Energy Partners,’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Spectra Energy Partners, will post $2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.5663 per share. This represents a $2.27 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Thursday, August 14th. This is an increase from Spectra Energy Partners,’s previous quarterly dividend of $0.56.
Spectra Energy Partners, LP, through its subsidiaries, is engaged in the transportation and gathering of natural gas through interstate pipeline systems with over 3,200 miles of pipelines that serve the southeastern quadrant of the United States and the storage of natural gas in underground facilities with aggregate working gas storage capacity of approximately 57 billion cubic feet that are located in southeast Texas, south central Louisiana and southwest Virginia.
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