Argyle Capital Management Lowers stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Argyle Capital Management reduced its stake in Spectra Energy Corp. by 0.17% during the most recent quarter end. The investment management company now holds a total of 100,374 shares of Spectra Energy Corp. which is valued at $3,614,468 after selling 175 shares in Spectra Energy Corp. , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Spectra Energy Corp. makes up approximately 1.50% of Argyle Capital Management’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in SE in the latest quarter, The investment management firm added 2,716 additional shares and now holds a total of 348,819 shares of Spectra Energy Corp. which is valued at $12,560,972. Spectra Energy Corp. makes up approx 0.07% of Retirement Systems Of Alabama’s portfolio.Meeder Asset Management Inc reduced its stake in SE by selling 2,884 shares or 11.7% in the most recent quarter. The Hedge Fund company now holds 21,770 shares of SE which is valued at $796,347. Spectra Energy Corp. makes up approx 0.07% of Meeder Asset Management Inc’s portfolio.Capital City Trust Cofl boosted its stake in SE in the latest quarter, The investment management firm added 2,673 additional shares and now holds a total of 21,065 shares of Spectra Energy Corp. which is valued at $770,558. Spectra Energy Corp. makes up approx 0.30% of Capital City Trust Cofl’s portfolio.Nisa Investment Advisors boosted its stake in SE in the latest quarter, The investment management firm added 26,615 additional shares and now holds a total of 303,444 shares of Spectra Energy Corp. which is valued at $11,148,533. Spectra Energy Corp. makes up approx 0.15% of Nisa Investment Advisors’s portfolio.

Spectra Energy Corp. closed down -0.12 points or -0.33% at $35.97 with 95,50,986 shares getting traded on Friday. Post opening the session at $35.82, the shares hit an intraday low of $35.73 and an intraday high of $36.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Spectra Energy Corp. reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.38. The company had revenue of $1384.00 million for the quarter, compared to analysts expectations of $1574.86 million. The company’s revenue was down -14.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Investors should note that on Jul 5, 2016, Spectra Energy Corp. announced a cash dividend of $0.4050. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 7, 2016.

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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