Spectra Energy Partners, Receives Average Recommendation of “Hold” from Analysts (NYSE:SEP)
Shares of Spectra Energy Partners, (NYSE:SEP) have been given an average rating of “Hold” by the thirteen ratings firms that are currently covering the company, AnalystRatings.Net reports. Eight investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $51.70.
A number of research firms have recently commented on SEP. Analysts at Barclays reiterated an “equal weight” rating on shares of Spectra Energy Partners, in a research note on Tuesday. They now have a $55.00 price target on the stock, up previously from $53.00. Separately, 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 Zacks downgraded shares of Spectra Energy Partners, from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 23rd. They now have a $52.50 price target on the stock.
Spectra Energy Partners, (NYSE:SEP) opened at 56.52 on Wednesday. Spectra Energy Partners, has a 52 week low of $40.70 and a 52 week high of $57.69. The stock’s 50-day moving average is $54.27 and its 200-day moving average is $52.00. The company has a market cap of $16.274 billion and a P/E ratio of 12.57.
Spectra Energy Partners, (NYSE:SEP) last issued its quarterly earnings data 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. Analysts expect that Spectra Energy Partners, will post $2.45 EPS for the current fiscal year.
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.