SPECTRA EGY PTR (NYSE:SEP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “SPECTRA ENERGY PERTNERS LP is a growth oriented, Delaware master limited partnership recently formed by Spectra Energy Corp, headquartered in Houston, Texas, to own and operate natural gas transportation and storage assets. The company is one of the largest operators of natural gas pipelines and storage facilities in North America. “
A number of other analysts have also recently issued reports on SEP. Wolfe Research started coverage on SPECTRA EGY PTR in a research report on Friday, October 7th. They set a “hold” rating and a $44.00 price objective for the company. US Capital Advisors raised SPECTRA EGY PTR from a “hold” rating to a “buy” rating in a research report on Friday, November 18th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.85.
SPECTRA EGY PTR (NYSE:SEP) opened at 46.11 on Tuesday. The stock has a 50 day moving average price of $45.36 and a 200 day moving average price of $44.93. SPECTRA EGY PTR has a 12 month low of $39.53 and a 12 month high of $50.48. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 15.59 and a beta of 0.65.
SPECTRA EGY PTR (NYSE:SEP) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.04. The firm had revenue of $628 million for the quarter, compared to analyst estimates of $665.42 million. SPECTRA EGY PTR had a net margin of 46.49% and a return on equity of 10.00%. SPECTRA EGY PTR’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts expect that SPECTRA EGY PTR will post $2.93 earnings per share for the current fiscal year.
In other news, Director J D. Woodward purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $105,675.00. Following the completion of the purchase, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $1,902,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Ebel purchased 8,529 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $41.67 per share, for a total transaction of $355,403.43. Following the completion of the purchase, the chief executive officer now directly owns 12,895 shares of the company’s stock, valued at $537,334.65. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the stock. Plancorp LLC purchased a new position in shares of SPECTRA EGY PTR during the second quarter valued at about $1,996,000. Mariner Investment Group LLC bought a new stake in SPECTRA EGY PTR during the second quarter valued at $7,053,000. Investors Capital Advisory Services raised its stake in SPECTRA EGY PTR by 7.1% in the second quarter. Investors Capital Advisory Services now owns 10,550 shares of the company’s stock valued at $497,000 after buying an additional 700 shares in the last quarter. ProVise Management Group LLC raised its stake in SPECTRA EGY PTR by 24.6% in the second quarter. ProVise Management Group LLC now owns 12,114 shares of the company’s stock valued at $571,000 after buying an additional 2,394 shares in the last quarter. Finally, St. James Investment Company LLC raised its stake in SPECTRA EGY PTR by 30.1% in the second quarter. St. James Investment Company LLC now owns 12,799 shares of the company’s stock valued at $443,000 after buying an additional 2,960 shares in the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.
SPECTRA EGY PTR Company Profile
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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