Spectra Energy Partners LP (SEP) is Downgraded by Piper Jaffray to Neutral

Spectra Energy Partners LP (SEP) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Sep 7, 2016.

Many Wall Street Analysts have commented on Spectra Energy Partners LP. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Simmons Initiated Spectra Energy Partners LP on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $60.

On the company’s financial health, Spectra Energy Partners LP reported $0.73 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.81. The company had revenue of $618.00 million for the quarter, 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.

Spectra Energy Partners LP closed down -0.21 points or -0.46% at $45.42 with 3,85,943 shares getting traded on Thursday. Post opening the session at $45.54, the shares hit an intraday low of $44.944 and an intraday high of $45.67 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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