Published On: Thu, Sep 8th, 2016

Spectra Energy Partners,’s (SEP) “Buy” Rating Reaffirmed at Jefferies Group

Spectra Energy Partners, LP (NYSE:SEP)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a report issued on Thursday.
Several other research analysts have also issued reports on the stock. Tudor Pickering raised shares of Spectra Energy Partners, from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Spectra Energy Partners, in a research report on Thursday, July 7th. Mitsubishi UFJ Financial Group started coverage on shares of Spectra Energy Partners, in a research report on Thursday, July 21st. They issued a “neutral” rating and a $55.00 price target for the company. Zacks Investment Research lowered shares of Spectra Energy Partners, from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Finally, Piper Jaffray Cos. lowered shares of Spectra Energy Partners, from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.92.
Shares of Spectra Energy Partners, (NYSE:SEP) opened at 44.97 on Thursday. The firm has a 50-day moving average price of $47.13 and a 200-day moving average price of $47.08. Spectra Energy Partners, has a 52-week low of $36.21 and a 52-week high of $50.48. The firm has a market capitalization of $13.61 billion and a P/E ratio of 14.15.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/08/spectra-energy-partnerss-sep-buy-rating-reaffirmed-at-jefferies-group.html

Spectra Energy Partners, (NYSE:SEP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.10. The firm had revenue of $618 million for the quarter, compared to analyst estimates of $645.60 million. During the same period in the prior year, the company earned $0.83 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Spectra Energy Partners, will post $3.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 15th were paid a dividend of $0.6638 per share. The ex-dividend date of this dividend was Thursday, August 11th. This is an increase from Spectra Energy Partners,’s previous quarterly dividend of $0.65. This represents a $2.66 annualized dividend and a dividend yield of 5.92%.
Several hedge funds recently added to or reduced their stakes in SEP. M&T Bank Corp boosted its stake in Spectra Energy Partners, by 14.1% in the first quarter. M&T Bank Corp now owns 18,187 shares of the company’s stock valued at $875,000 after buying an additional 2,254 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of Spectra Energy Partners, during the first quarter worth about $350,000. Aston Asset Management LLC boosted its position in shares of Spectra Energy Partners, by 64.5% in the first quarter. Aston Asset Management LLC now owns 26,958 shares of the company’s stock worth $1,297,000 after buying an additional 10,571 shares during the last quarter. Allegis Investment Advisors LLC boosted its position in shares of Spectra Energy Partners, by 37.8% in the first quarter. Allegis Investment Advisors LLC now owns 14,867 shares of the company’s stock worth $715,000 after buying an additional 4,075 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Spectra Energy Partners, during the first quarter worth about $335,000.
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.

Receive News & Ratings for Spectra Energy Partners LP Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Spectra Energy Partners LP and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>