Insider Selling: Alan N. Harris Unloads 10,000 Shares of Spectra Energy Corp. Stock (SE)
Spectra Energy Corp. (NYSE:SE) Insider Alan N. Harris sold 10,000 shares of Spectra Energy Corp. stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $40.93, for a total transaction of $409,300.00. Following the transaction, the insider now directly owns 75,161 shares in the company, valued at approximately $3,076,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Spectra Energy Corp. (NYSE:SE) traded up 0.83% during mid-day trading on Thursday, hitting $41.48. 2,053,751 shares of the company’s stock traded hands. 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 $41.42 and a 200-day moving average of $39.7. The company has a market cap of $27.829 billion and a P/E ratio of 25.91.
Spectra Energy Corp. (NYSE:SE) last announced its earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that Spectra Energy Corp. will post $1.55 earnings per share 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 3.23%. The ex-dividend date of this dividend is Friday, August 8th.
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, August 11th. They now have a $42.00 price target on the stock. Separately, analysts at Scotiabank 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.
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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