Short Term Price Target on Spectra Energy Corp (SE)

Spectra Energy Corp (NYSE:SE) : The highest level Spectra Energy Corp (NYSE:SE) is projected to reach is $39 for the short term and the lowest estimate is at $30. The consolidated price target from 9 rating analysts who initiate coverage on the stock is $32.78 and the possibility the share price can swing is $2.73.

Shares of Spectra Energy Corp. rose by 4.48% in the last five trading days and 14.25% for the last 4 weeks. Spectra Energy Corp. is up 23.29% in the last 3-month period. Year-to-Date the stock performance stands at 57.19%. Also, Jefferies maintains its view on Spectra Energy Corp (NYSE:SE) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $27 per share to $30 per share on Spectra Energy Corp. The rating by the firm was issued on June 8, 2016.

Spectra Energy Corp (NYSE:SE) : Zacks Investment Research ranks Spectra Energy Corp (NYSE:SE) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 12 research analysts is 2.58, which indicates as a Hold.

Spectra Energy Corp (NYSE:SE): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $35.75 and $35.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $36.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.63, notching a gain of 2.18% for the day. The total traded volume was 5,109,261 . The stock had closed at $35.85 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Buckley Guy G., officer (Chief Development Officer) of Spectra Energy Corp., had unloaded 21,100 shares at an average price of $29.41 in a transaction dated on March 2, 2016. The total value of the transaction was worth $620,551.

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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