Spectra Energy Partners, Reaches New 1-Year High at $57.69 (SEP)
Spectra Energy Partners, (NYSE:SEP) hit a new 52-week high during mid-day trading on Wednesday , Stock Ratings News reports. The company traded as high as $57.69 and last traded at $56.39, with a volume of 130,269 shares traded. The stock had previously closed at $57.31.
A number of analysts have recently weighed in on SEP shares. Analysts at Zacks upgraded shares of Spectra Energy Partners, from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 21st. They now have a $56.30 price target on the stock. Finally, 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 issued a buy rating to the stock. Spectra Energy Partners, presently has a consensus rating of “Hold” and an average price target of $51.48.
The stock has a 50-day moving average of $53.79 and a 200-day moving average of $51.66. The company has a market cap of $16.214 billion and a P/E ratio of 12.74.
Spectra Energy Partners, (NYSE:SEP) last released its earnings data on Wednesday, August 6th. The company reported $0.59 earnings per share for the quarter, missing the analysts’ 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. On average, analysts predict that Spectra Energy Partners, will post $2.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 3.95%. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change 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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