Tig Advisors adds Spectra Energy Corp. (SE) to its portfolio

Spectra Energy Corp. (SE) : Tig Advisors added new position in Spectra Energy Corp. during the most recent quarter end. The investment management firm now holds 1,103,208 shares of Spectra Energy Corp. which is valued at $42,892,727 , the company said in a statement filed on Nov 14, 2016 with the SEC.Spectra Energy Corp. makes up approximately 5.24% of Tig Advisors’s portfolio.

Other Hedge Funds, Including , Edmond De Rothschild Asset Management (luxembourg) boosted its stake in SE in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 5,949 shares of Spectra Energy Corp. which is valued at $231,297. Spectra Energy Corp. makes up approx 0.26% of Edmond De Rothschild Asset Management (luxembourg)’s portfolio.Baird Financial Group reduced its stake in SE by selling 36,690 shares or 13.82% in the most recent quarter. The Hedge Fund company now holds 228,721 shares of SE which is valued at $9,384,423. Spectra Energy Corp. makes up approx 0.08% of Baird Financial Group’s portfolio.Saratoga Research Investment Management reduced its stake in SE by selling 400 shares or 5.04% in the most recent quarter. The Hedge Fund company now holds 7,535 shares of SE which is valued at $304,263. Spectra Energy Corp. makes up approx 0.03% of Saratoga Research Investment Management’s portfolio.Old Second National Bank Of Aurora reduced its stake in SE by selling 599 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 49,495 shares of SE which is valued at $2,078,790. Spectra Energy Corp. makes up approx 0.97% of Old Second National Bank Of Aurora’s portfolio.Howe Rusling Inc reduced its stake in SE by selling 703 shares or 81.37% in the most recent quarter. The Hedge Fund company now holds 161 shares of SE which is valued at $6,851.

Spectra Energy Corp. opened for trading at $40.81 and hit $41.16 on the upside on Monday, eventually ending the session at $41.16, with a gain of 0.88% or 0.36 points. The heightened volatility saw the trading volume jump to 23,63,313 shares. Company has a market cap of $28,873 M.

On the company’s financial health, Spectra Energy Corp. reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.25. The company had revenue of $1075.00 million for the quarter, compared to analysts expectations of $1161.34 million. The company’s revenue was down -2.5 % 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.. Spectra Energy Corp. was Downgraded by Argus to ” Hold” on Sep 26, 2016. Company shares were Downgraded by UBS on Sep 12, 2016 to ” Neutral”, Firm has raised the Price Target to $ 44 from a previous price target of $39 .Spectra Energy Corp. was Downgraded by Goldman to ” Neutral” on Sep 8, 2016.

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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