Beacon Financial Group buys $8.2 Million stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Beacon Financial Group scooped up 5,518 additional shares in Spectra Energy Corp. during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 270,997 shares of Spectra Energy Corp. which is valued at $8.2 Million.Spectra Energy Corp. makes up approximately 1.76% of Beacon Financial Group’s portfolio.

On the company’s financial health, Spectra Energy Corp. reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.30. The company had revenue of $1316.00 million for the quarter, compared to analysts expectations of $1510.67 million. The company’s revenue was down -17.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Spectra Energy Corp.. Spectra Energy Corp. was Upgraded by Raymond James to ” Strong Buy” on Jan 4, 2016.

Spectra Energy Corp. opened for trading at $30.11 and hit $30.3 on the upside on Monday, eventually ending the session at $30.02, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 45,47,352 shares. Company has a market cap of $20,158 M.

Spectra Energy Corp is a natural gas infrastructure company. The Company owns and operates natural gas-related energy assets and a crude oil pipeline system connecting Canadian and the United States producers to refineries in the United States Rocky Mountain and Midwest regions. It operates in three areas of the natural gas industry: gathering and processing transmission and storage and distribution. It conducts its business in four segments: Spectra Energy Partners Distribution Western Canada Transmission & Processing and Field Services. It provides transmission and storage of natural gas to customers in various regions of the northeastern and southeastern United States the Maritime Provinces in Canada the Pacific Northwest in the United States and Canada and in the province of Ontario Canada. It also provides natural gas sales and distribution services to retail customers in Ontario and natural gas gathering and processing services to customers in western Canada.

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