Oxbow Advisors LLC purchased a new position in Spectra Egy Ptr (NYSE:SEP) during the third quarter, Holdings Channel reports. The fund purchased 20,945 shares of the company’s stock, valued at approximately $914,000.
Several other hedge funds also recently made changes to their positions in SEP. American Century Companies Inc. boosted its stake in shares of Spectra Egy Ptr by 37.6% in the second quarter. American Century Companies Inc. now owns 3,334,416 shares of the company’s stock worth $157,318,000 after buying an additional 910,672 shares during the last quarter. Hamlin Capital Management LLC bought a new stake in shares of Spectra Egy Ptr during the second quarter worth $39,802,000. Allianz Asset Management AG bought a new stake in shares of Spectra Egy Ptr during the second quarter worth $38,885,000. Bank of Montreal Can bought a new stake in shares of Spectra Egy Ptr during the second quarter worth $34,434,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Spectra Egy Ptr by 10.0% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,189,800 shares of the company’s stock worth $150,480,000 after buying an additional 289,400 shares during the last quarter. Institutional investors and hedge funds own 18.97% of the company’s stock.
Spectra Egy Ptr (NYSE:SEP) traded down 1.41% during midday trading on Thursday, hitting $45.46. The stock had a trading volume of 289,531 shares. The stock’s 50-day moving average is $45.36 and its 200-day moving average is $44.93. The company has a market cap of $13.91 billion, a P/E ratio of 15.37 and a beta of 0.65. Spectra Egy Ptr has a one year low of $39.53 and a one year high of $50.48.
Spectra Egy Ptr (NYSE:SEP) last posted its earnings results 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. Spectra Egy Ptr had a net margin of 46.49% and a return on equity of 10.00%. The firm earned $628 million during the quarter, compared to the consensus estimate of $665.42 million. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Spectra Egy Ptr will post $2.93 EPS for the current fiscal year.
SEP has been the topic of a number of research reports. Wolfe Research initiated coverage on Spectra Egy Ptr in a research report on Friday, October 7th. They set a “hold” rating and a $44.00 price target on the stock. Zacks Investment Research cut Spectra Egy Ptr from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. US Capital Advisors upgraded Spectra Egy Ptr from a “hold” rating to a “buy” rating in a research report on Friday, November 18th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Spectra Egy Ptr in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $52.85.
In other news, CEO Gregory L. Ebel bought 8,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was bought at an average price of $41.58 per share, for a total transaction of $332,640.00. Following the completion of the purchase, the chief executive officer now owns 22,295 shares of the company’s stock, valued at approximately $927,026.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J D. Woodward bought 2,500 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was purchased at an average price of $42.27 per share, with a total value of $105,675.00. Following the purchase, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $1,902,150. The disclosure for this purchase can be found here. Insiders bought 19,029 shares of company stock valued at $793,718 in the last quarter.
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.
Want to see what other hedge funds are holding SEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spectra Egy Ptr (NYSE:SEP).