Spectra Energy Partners,’s “Equal Weight” Rating Reaffirmed at Barclays (SEP)
Spectra Energy Partners, (NYSE:SEP)‘s stock had its “equal weight” rating restated by research analysts at Barclays in a report released on Tuesday. They currently have a $55.00 target price on the stock, up from their previous target price of $53.00. Barclays’ price target points to a potential downside of 3.49% from the company’s current price.
Shares of Spectra Energy Partners, (NYSE:SEP) traded down 0.47% during mid-day trading on Tuesday, hitting $56.72. 12,596 shares of the company’s stock traded hands. Spectra Energy Partners, has a 1-year low of $40.00 and a 1-year high of $57.69. The stock’s 50-day moving average is $54.18 and its 200-day moving average is $51.81. The company has a market cap of $16.331 billion and a price-to-earnings ratio of 12.67.
Spectra Energy Partners, (NYSE:SEP) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Spectra Energy Partners, will post $2.45 earnings per share for the current fiscal year.
SEP has been the subject of a number of other recent research reports. 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 given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.70.
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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