Price Target Update on Spectra Energy Corp (NYSE:SE)

Spectra Energy Corp (NYSE:SE) stock is expected to deviate a maximum of $1.51 from the average target price of $32 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $34 and the most muted being $30.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Jefferies maintains its ratings on Spectra Energy Corp (NYSE:SE). In the latest research report, Jefferies raises the target price from $27 per share to $30 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on June 8, 2016.

Spectra Energy Corp (NYSE:SE): stock turned positive on Thursday. Though the stock opened at $34.91, the bulls momentum made the stock top out at $35.065 level for the day. The stock recorded a low of $34.6293 and closed the trading day at $35.06, in the green by 1.45%. The total traded volume for the day was 3,299,398. The stock had closed at $34.56 in the previous days trading.

The company shares have rallied 6.18% from its 1 Year high price. On Jun 22, 2016, the shares registered one year high at $34.86 and the one year low was seen on Dec 8, 2015. The 50-Day Moving Average price is $32.20 and the 200 Day Moving Average price is recorded at $28.96. On the companys insider trading activities, The officer (Chief Development Officer), of Spectra Energy Corp., Buckley Guy G. had unloaded 21,100 shares at $29.41 per share in a transaction on March 2, 2016. The total value of transaction was $620,551. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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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