Spectra Energy Corp. (SE) was Downgraded by UBS to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 44 from a previous price target of $39 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Sep 12, 2016.
Many Wall Street Analysts have commented on Spectra Energy Corp.. Spectra Energy Corp. was Downgraded by Goldman to ” Neutral” on Sep 8, 2016. Spectra Energy Corp. was Downgraded by Raymond James to ” Outperform” on Sep 7, 2016. Spectra Energy Corp. was Downgraded by Simmons to ” Neutral” on Sep 7, 2016.
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.
Spectra Energy Corp. opened for trading at $40.91 and hit $42.18 on the upside on Wednesday, eventually ending the session at $41.92, with a gain of 2.24% or 0.92 points. The heightened volatility saw the trading volume jump to 24,178,968 shares. Company has a market cap of $29,386 M.
In a different news, on Aug 9, 2016, Dorothy M Ables (Chief Administrative Officer) sold 33,400 shares at $36.25 per share price. According to the SEC, on Mar 3, 2016, Guy G. Buckley (Chief Development Officer) sold 21,100 shares at $29.41 per share price. On Nov 17, 2015, Michael E J Phelps (director) sold 1,125 shares at $27.00 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.