Suncoast Equity Management adds Spectra Energy Partners LP (SEP) to its portfolio

Spectra Energy Partners LP (SEP) : Suncoast Equity Management added new position in Spectra Energy Partners LP during the most recent quarter end. The investment management firm now holds 9,685 shares of Spectra Energy Partners LP which is valued at $451,805 , the company said in a statement filed on Aug 11, 2016 with the SEC.Spectra Energy Partners LP makes up approximately 0.14% of Suncoast Equity Management’s portfolio.

Other Hedge Funds, Including , Cbre Clarion Securities reduced its stake in SEP by selling 35,950 shares or 31.26% in the most recent quarter. The Hedge Fund company now holds 79,042 shares of SEP which is valued at $3,687,309. Spectra Energy Partners LP makes up approx 0.03% of Cbre Clarion Securities’s portfolio.Columbia Asset Management reduced its stake in SEP by selling 5,144 shares or 35.03% in the most recent quarter. The Hedge Fund company now holds 9,541 shares of SEP which is valued at $447,568. Spectra Energy Partners LP makes up approx 0.15% of Columbia Asset Management’s portfolio.Provise Management Group boosted its stake in SEP in the latest quarter, The investment management firm added 2,394 additional shares and now holds a total of 12,114 shares of Spectra Energy Partners LP which is valued at $582,683. Spectra Energy Partners LP makes up approx 0.10% of Provise Management Group’s portfolio.Alps Advisors Inc reduced its stake in SEP by selling 163,668 shares or 3.8% in the most recent quarter. The Hedge Fund company now holds 4,144,229 shares of SEP which is valued at $199,088,761. Spectra Energy Partners LP makes up approx 1.76% of Alps Advisors Inc’s portfolio.Miller Howard Investments Inc Ny reduced its stake in SEP by selling 14,831 shares or 1.72% in the most recent quarter. The Hedge Fund company now holds 848,557 shares of SEP which is valued at $41,375,639. Spectra Energy Partners LP makes up approx 0.72% of Miller Howard Investments Inc Ny’s portfolio.

Spectra Energy Partners LP closed down -0.18 points or -0.39% at $46.1 with 3,39,768 shares getting traded on Tuesday. Post opening the session at $46.33, the shares hit an intraday low of $46.1 and an intraday high of $46.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Spectra Energy Partners LP reported $0.73 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.81. The company had revenue of $618.00 million for the quarter, compared to analysts expectations of $640.63 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Spectra Energy Partners LP. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Simmons Initiated Spectra Energy Partners LP on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $60.Stifel Initiated Spectra Energy Partners LP on May 31, 2016 to “Buy”, Price Target of the shares are set at $50.

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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