Stack Financial Management Inc Lowers stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Stack Financial Management Inc reduced its stake in Spectra Energy Corp. by 0.02% during the most recent quarter end. The investment management company now holds a total of 432,587 shares of Spectra Energy Corp. which is valued at $15,633,694 after selling 76 shares in Spectra Energy Corp. , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Spectra Energy Corp. makes up approximately 1.92% of Stack Financial Management Inc’s portfolio.

Other Hedge Funds, Including , Ashfield Capital Partners boosted its stake in SE in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 37,844 shares of Spectra Energy Corp. which is valued at $1,367,682. Spectra Energy Corp. makes up approx 0.10% of Ashfield Capital Partners’s portfolio.Calvert Investment Management boosted its stake in SE in the latest quarter, The investment management firm added 239,665 additional shares and now holds a total of 435,963 shares of Spectra Energy Corp. which is valued at $15,951,886. Spectra Energy Corp. makes up approx 0.80% of Calvert Investment Management’s portfolio. Hanlon Investment Management added SE to its portfolio by purchasing 153,907 company shares during the most recent quarter which is valued at $5,611,449. Spectra Energy Corp. makes up approx 0.48% of Hanlon Investment Management’s portfolio.Carroll Financial Associates boosted its stake in SE in the latest quarter, The investment management firm added 1,835 additional shares and now holds a total of 78,864 shares of Spectra Energy Corp. which is valued at $2,910,082. Spectra Energy Corp. makes up approx 0.47% of Carroll Financial Associates’s portfolio.

Spectra Energy Corp. closed down -0.29 points or -0.80% at $36.07 with 31,14,026 shares getting traded on Monday. Post opening the session at $36.43, the shares hit an intraday low of $36.045 and an intraday high of $36.6499 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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