Shamrock Asset Management buys $1,242,058 stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Shamrock Asset Management scooped up 762 additional shares in Spectra Energy Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 34,160 shares of Spectra Energy Corp. which is valued at $1,242,058.Spectra Energy Corp. makes up approximately 0.71% of Shamrock Asset Management’s portfolio.

Other Hedge Funds, Including , Douglas Lane Associates added SE to its portfolio by purchasing 8,372 company shares during the most recent quarter which is valued at $301,476. Spectra Energy Corp. makes up approx 0.01% of Douglas Lane Associates’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.

Spectra Energy Corp. opened for trading at $35.64 and hit $35.74 on the upside on Monday, eventually ending the session at $35.73, with a gain of 0.25% or 0.09 points. The heightened volatility saw the trading volume jump to 29,17,426 shares. Company has a market cap of $25,047 M.

On the company’s financial health, Spectra Energy Corp. reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.28. The company had revenue of $1159.00 million for the quarter, compared to analysts expectations of $1294.10 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.23 EPS.

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.

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