Spectra Energy Corp. (SE) is Initiated by Simmons to Overweight, Price Target at $41

Spectra Energy Corp. (SE) was Initiated by Simmons to “Overweight” and the brokerage firm has set the Price Target at $41. Simmons advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Spectra Energy Corp.. RBC Capital Mkts Initiated Spectra Energy Corp. on Jun 27, 2016 to “Outperform”, Price Target of the shares are set at $39.

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.

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.

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.

In a different news, on Mar 3, 2016, Guy G. Buckley (Chief Development Officer) sold 21,100 shares at $29.41 per share price. According to the SEC, on Nov 17, 2015, Michael E J Phelps (director) sold 1,125 shares at $27.00 per share price. On May 22, 2015, Miranda C Hubbs (director) purchased 10,000 shares at $36.10 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Spectra Energy Corp.

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