Spectra Energy Corp. Rating Reiterated by Barclays (SE)
Spectra Energy Corp. (NYSE:SE)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Barclays in a research note issued to investors on Tuesday. They currently have a $41.00 price objective on the stock, up from their previous price objective of $36.00. Barclays’ target price indicates a potential downside of 1.58% from the stock’s previous close.
SE has been the subject of a number of other 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 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. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Spectra Energy Corp. currently has a consensus rating of “Hold” and a consensus price target of $41.50.
In other Spectra Energy Corp. news, Insider Alan N. Harris unloaded 10,000 shares of the stock on the open market in a transaction dated Thursday, August 28th. The stock was sold at an average price of $40.93, for a total transaction of $409,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Spectra Energy Corp. (NYSE:SE) traded down 0.67% during mid-day trading on Tuesday, hitting $41.38. 244,401 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’s 50-day moving average is $41.36 and its 200-day moving average is $39.76. The company has a market cap of $27.762 billion and a price-to-earnings ratio of 26.23.
Spectra Energy Corp. (NYSE:SE) last issued its quarterly 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 $1.55 EPS for the current fiscal year.
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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