Spectra Energy Corp. (SE) : Bourne Lent Asset Management Inc reduced its stake in Spectra Energy Corp. by 2.74% during the most recent quarter end. The investment management company now holds a total of 28,400 shares of Spectra Energy Corp. which is valued at $1,022,684 after selling 800 shares in Spectra Energy Corp. , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Spectra Energy Corp. makes up approximately 0.76% of Bourne Lent Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Home Federal Bank Of Tennessee boosted its stake in SE in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 73,430 shares of Spectra Energy Corp. which is valued at $2,644,214. Spectra Energy Corp. makes up approx 1.56% of Home Federal Bank Of Tennessee’s portfolio.Ibm Retirement Fund boosted its stake in SE in the latest quarter, The investment management firm added 3,961 additional shares and now holds a total of 91,492 shares of Spectra Energy Corp. which is valued at $3,346,777. Spectra Energy Corp. makes up approx 0.12% of Ibm Retirement Fund’s portfolio.Charter Trust Co reduced its stake in SE by selling 50 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 62,731 shares of SE which is valued at $2,314,774. Spectra Energy Corp. makes up approx 0.26% of Charter Trust Co’s portfolio.Next Financial Group Inc reduced its stake in SE by selling 44 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 3,300 shares of SE which is valued at $119,988. Spectra Energy Corp. makes up approx 0.04% of Next Financial Group Inc’s portfolio.
Spectra Energy Corp. closed down -0.12 points or -0.33% at $35.97 with 95,50,986 shares getting traded on Friday. Post opening the session at $35.82, the shares hit an intraday low of $35.73 and an intraday high of $36.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Spectra Energy Corp. reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.38. The company had revenue of $1384.00 million for the quarter, compared to analysts expectations of $1574.86 million. The company’s revenue was down -14.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.
Investors should note that on Jul 5, 2016, Spectra Energy Corp. announced a cash dividend of $0.4050. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 7, 2016.
Many Wall Street Analysts have commented on Spectra Energy Corp.. Simmons Initiated Spectra Energy Corp. on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $41.RBC Capital Mkts Initiated Spectra Energy Corp. on Jun 27, 2016 to “Outperform”, Price Target of the shares are set at $39.
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.