Baker Avenue Asset Management Lp buys $2,239,849 stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Baker Avenue Asset Management Lp scooped up 39,031 additional shares in Spectra Energy Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 61,602 shares of Spectra Energy Corp. which is valued at $2,239,849.Spectra Energy Corp. makes up approximately 0.32% of Baker Avenue Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Veritable boosted its stake in SE in the latest quarter, The investment management firm added 958 additional shares and now holds a total of 26,011 shares of Spectra Energy Corp. which is valued at $945,760. Spectra Energy Corp. makes up approx 0.02% of Veritable’s portfolio. Montage Investments sold out all of its stake in SE during the most recent quarter. The investment firm sold 49,510 shares of SE which is valued $1,800,184.Sandy Spring Bank reduced its stake in SE by selling 194 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 70,313 shares of SE which is valued at $2,579,081. Spectra Energy Corp. makes up approx 0.29% of Sandy Spring Bank’s portfolio.Calvert Investment Management boosted its stake in SE in the latest quarter, The investment management firm added 239,665 additional shares and now holds a total of 435,963 shares of Spectra Energy Corp. which is valued at $15,951,886. Spectra Energy Corp. makes up approx 0.80% of Calvert Investment Management’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in SE in the latest quarter, The investment management firm added 3,033 additional shares and now holds a total of 100,793 shares of Spectra Energy Corp. which is valued at $3,674,913. Spectra Energy Corp. makes up approx 0.09% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Spectra Energy Corp. closed down -0.01 points or -0.03% at $35.61 with 26,05,207 shares getting traded on Thursday. Post opening the session at $35.54, the shares hit an intraday low of $35.275 and an intraday high of $35.69 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Many Wall Street Analysts have commented on Spectra Energy Corp.. 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. Spectra Energy Corp. was Downgraded by Piper Jaffray to ” Neutral” on Sep 7, 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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