Spectra Energy Corp (SE) : Money flow in the Spectra Energy Corp (SE) stock was negative (4.1 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $6.89 million, compared to $10.99 million on downticks. The total uptick to downtick ratio was 0.63, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($3.1 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $3.1 million, indicating persistent selling. Spectra Energy Corp (SE) traded $0.13 higher at $36.98 gaining 0.35% over the previous days close.
Also, RBC Capital initiates coverage on Spectra Energy Corp (NYSE:SE). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. The rating by the firm was issued on June 27, 2016.
Spectra Energy Corp (NYSE:SE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $36.84 and $36.54 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $37.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.90, notching a gain of 0.14% for the day. The total traded volume was 2,145,588 . The stock had closed at $36.85 on the previous day.
The stock has recorded a 20-day Moving Average of 2.49% and the 50-Day Moving Average is 9.54%. In a related news, Buckley Guy G., officer (Chief Development Officer) of Spectra Energy Corp., unloaded 21,100 shares at an average price of $29.41 on March 2, 2016. The total amount of the transaction was worth $620,551, according to the disclosed information with 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.