Beacon Financial Group Lowers stake in Spectra Energy Partners LP (SEP)

Spectra Energy Partners LP (SEP) : Beacon Financial Group reduced its stake in Spectra Energy Partners LP by 7.7% during the most recent quarter end. The investment management company now holds a total of 44,225 shares of Spectra Energy Partners LP which is valued at $2.1 Million after selling 3,689 shares in Spectra Energy Partners LP according to a report filed by the company on Apr 1, 2016 with the SEC.Spectra Energy Partners LP makes up approximately 0.45% of Beacon Financial Group’s portfolio.

Many Wall Street Analysts have commented on Spectra Energy Partners LP. Spectra Energy Partners LP was Downgraded by Credit Suisse to ” Neutral” on Mar 17, 2016. Spectra Energy Partners LP was Upgraded by Morgan Stanley to ” Equal-Weight” on Jan 20, 2016. RBC Capital Mkts Upgraded Spectra Energy Partners LP on Jan 15, 2016 to ” Outperform”, Price Target of the shares are set at $58.

Spectra Energy Partners LP opened for trading at $47.54 and hit $47.87 on the upside on Monday, eventually ending the session at $47.32, with a gain of 0.08% or 0.04 points. The heightened volatility saw the trading volume jump to 3,25,027 shares. Company has a market cap of $13,493 M.

Spectra Energy Partners LP 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 owns and operates natural gas transmission gathering and storage assets and crude oil transportation and storage assets in central southern and eastern United States as well as western Canada. The Company operates two segments: U.S. Transmission and Liquids. The Company’s U.S. Transmission business provides transmission storage and gathering of natural gas for customers in various regions of the northeastern and southeastern United States. The Company’s Liquids business provides transportation and storage of crude oil and transportation of NGLs for customers in central and southern United States and Canada.

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