Argus Research Downgrades Spectra Energy Corp. to Hold

Brokerage firm Argus Research Downgrades its rating on Spectra Energy Corp.(NYSE:SE). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Argus Research was issued on Sep 26, 2016.

In a different note, On Sep 12, 2016, UBS said it Downgrades its rating on Spectra Energy Corp.. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Neutral’ by the firm. On Sep 12, 2016, Goldman Sachs said it Downgrades its rating on Spectra Energy Corp.. The shares have been rated ‘Not Rated’ by the firm. On Sep 8, 2016, Goldman Sachs said it Downgrades its rating on Spectra Energy Corp.. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Neutral’ by the firm. On Sep 8, 2016, Barclays said it Terminates its rating on Spectra Energy Corp.. The shares have been rated ‘Equal-weight’ by the firm. On Sep 8, 2016, CIBC said it Upgrades its rating on Spectra Energy Corp.. The shares have been rated ‘Sector Outperformer’ by the firm. On Sep 7, 2016, Raymond James said it Downgrades its rating on Spectra Energy Corp.. The shares have been rated ‘Outperform’ by the firm.

Spectra Energy Corp. (SE) shares turned negative on Thursdays trading session with the shares closing down -0.19 points or -0.45% at a volume of 39,96,938. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.27. The peak price level was also seen at $43.27 while the days lowest was $42.46. Finally the shares closed at $42.48. The 52-week high of the shares is $44 while the 52-week low is $21.43. According to the latest information available, the market cap of the company is $29,778 M.

Spectra Energy Corp.(SE) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.16B. Analysts had an estimated revenue of $1.26B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On Aug 9, 2016, Dorothy M Ables (Chief Administrative Officer) sold 33,400 shares at $36.25 per share price.Also, 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.

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