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

Spectra Energy Corp. (SE) : Hengehold Capital Management reduced its stake in Spectra Energy Corp. by 1.2% during the most recent quarter end. The investment management company now holds a total of 51,083 shares of Spectra Energy Corp. which is valued at $1,884,963 after selling 618 shares in Spectra Energy Corp. , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Spectra Energy Corp. makes up approximately 0.60% of Hengehold Capital Management’s portfolio.

Other Hedge Funds, Including , Barrett Asset Management sold out all of its stake in SE during the most recent quarter. The investment firm sold 100 shares of SE which is valued $3,690.Trust Department Mb Financial Bank N A reduced its stake in SE by selling 864 shares or 65.6% in the most recent quarter. The Hedge Fund company now holds 453 shares of SE which is valued at $16,643.Patten Patten Inctn reduced its stake in SE by selling 2,607 shares or 13.59% in the most recent quarter. The Hedge Fund company now holds 16,574 shares of SE which is valued at $602,631. Spectra Energy Corp. makes up approx 0.08% of Patten Patten Inctn’s portfolio.

Spectra Energy Corp. opened for trading at $36.84 and hit $37.06 on the upside on Wednesday, eventually ending the session at $36.9, with a gain of 0.14% or 0.05 points. The heightened volatility saw the trading volume jump to 21,45,588 shares. Company has a market cap of $25,247 M.

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.. 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Spectra Energy Corp. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Spectra Energy Corp.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.