Spectra Energy Partners, LP (NYSE:SEP) Receives Average Recommendation of “Buy” from Analysts
Shares of Spectra Energy Partners, LP (NYSE:SEP) have received an average recommendation of “Buy” from the seventeen analysts that are currently covering the firm. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $53.30.
A number of brokerages have weighed in on SEP. JPMorgan Chase & Co. restated a “buy” rating on shares of Spectra Energy Partners, in a research note on Sunday, May 29th. Stifel Nicolaus increased their price objective on Spectra Energy Partners, from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. DA Davidson reiterated a “buy” rating on shares of Spectra Energy Partners, in a research report on Friday, September 9th. Piper Jaffray Cos. began coverage on Spectra Energy Partners, in a research report on Monday, August 1st. They set an “overweight” rating on the stock. Finally, Simmons began coverage on Spectra Energy Partners, in a research report on Monday, August 1st. They set an “overweight” rating and a $60.00 price objective on the stock.
Shares of Spectra Energy Partners, (NYSE:SEP) traded up 1.48% during midday trading on Wednesday, reaching $43.23. The company’s stock had a trading volume of 173,142 shares. The company’s 50-day moving average price is $45.77 and its 200 day moving average price is $46.82. The company has a market capitalization of $13.08 billion, a P/E ratio of 13.61 and a beta of 0.66. Spectra Energy Partners, has a 12-month low of $36.21 and a 12-month high of $50.48.
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Spectra Energy Partners, (NYSE:SEP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.10. The business earned $618 million during the quarter, compared to analyst estimates of $645.60 million. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities research analysts forecast that Spectra Energy Partners, will post $3.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 15th were issued a $0.6638 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.66 annualized dividend and a yield of 6.23%. This is a boost from Spectra Energy Partners,’s previous quarterly dividend of $0.65.
A number of large investors have recently added to or reduced their stakes in the company. Energy Income Partners LLC boosted its stake in Spectra Energy Partners, by 7.3% in the first quarter. Energy Income Partners LLC now owns 4,330,919 shares of the company’s stock valued at $208,404,000 after buying an additional 296,218 shares during the period. IFP Advisors Inc boosted its position in Spectra Energy Partners, by 234.6% in the first quarter. IFP Advisors Inc now owns 7,371 shares of the company’s stock worth $355,000 after buying an additional 5,168 shares during the last quarter. Forester Capital Management LTD boosted its position in Spectra Energy Partners, by 60.0% in the first quarter. Forester Capital Management LTD now owns 51,840 shares of the company’s stock worth $2,685,000 after buying an additional 19,450 shares during the last quarter. Prudential Financial Inc. purchased a new position in Spectra Energy Partners, during the first quarter worth approximately $335,000. Finally, BNP Paribas Arbitrage SA boosted its position in Spectra Energy Partners, by 310.2% in the second quarter. BNP Paribas Arbitrage SA now owns 37,661 shares of the company’s stock worth $1,777,000 after buying an additional 28,479 shares during the last quarter.
About Spectra Energy Partners,
Spectra Energy Partners, L.P., through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids (NGLs). The Company’s segments include U.S. Transmission, Liquids and Other.
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