Spectra Energy Partners LP (SEP) Releases Earnings Results, Misses Expectations By $-0.08 EPS

Spectra Energy Partners LP (SEP) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.73 earnings per share for the quarter, missing the analyst consensus estimate by $-0.08. Analysts had a consensus of $0.81. The company posted revenue of $618.00 million in the period, compared to analysts expectations of $640.63 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Spectra Energy Partners LP. Simmons Initiated Spectra Energy Partners LP on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $60.Stifel Initiated Spectra Energy Partners LP on May 31, 2016 to “Buy”, Price Target of the shares are set at $50.

Spectra Energy Partners LP closed down -0.05 points or -0.10% at $48.54 with 3,10,093 shares getting traded on Tusday. Post opening the session at $48.51, the shares hit an intraday low of $47.76 and an intraday high of $48.89 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Dec 4, 2015, J D Woodward (director) purchased 1,500 shares at $39.30 per share price.

Spectra Energy Partners LP is engaged in the transmission storage and gathering of natural gas the transportation and storage of crude oil and the transportation of natural gas liquids (NGLs. The Company owns and operates natural gas transmission gathering and storage assets and crude oil transportation and storage assets in central southern and eastern United States as well as western Canada. The Company operates two segments: U.S. Transmission and Liquids. The Company’s U.S. Transmission business provides transmission storage and gathering of natural gas for customers in various regions of the northeastern and southeastern United States. The Company’s Liquids business provides transportation and storage of crude oil and transportation of NGLs for customers in central and southern United States and Canada.

Spectra Energy Partners LP

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