Spectra Energy Corp. (SE) : Maple-brown Abbott Ltd reduced its stake in Spectra Energy Corp. by 11.93% during the most recent quarter end. The investment management company now holds a total of 453,400 shares of Spectra Energy Corp. which is valued at $16,385,876 after selling 61,400 shares in Spectra Energy Corp. , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Spectra Energy Corp. makes up approximately 5.03% of Maple-brown Abbott Ltd’s portfolio.
Other Hedge Funds, Including , Acrospire Investment Management sold out all of its stake in SE during the most recent quarter. The investment firm sold 1,000 shares of SE which is valued $36,680.Oppenheimer Co Inc reduced its stake in SE by selling 3,606 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 269,602 shares of SE which is valued at $9,743,416. Spectra Energy Corp. makes up approx 0.28% of Oppenheimer Co Inc’s portfolio.Cibc Asset Management Inc boosted its stake in SE in the latest quarter, The investment management firm added 957 additional shares and now holds a total of 66,754 shares of Spectra Energy Corp. which is valued at $2,433,851. Spectra Energy Corp. makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.1st Source Bank reduced its stake in SE by selling 1,136 shares or 1.91% in the most recent quarter. The Hedge Fund company now holds 58,460 shares of SE which is valued at $2,102,806. Spectra Energy Corp. makes up approx 0.23% of 1st Source Bank’s portfolio.Hartford Financial Management boosted its stake in SE in the latest quarter, The investment management firm added 3,341 additional shares and now holds a total of 38,379 shares of Spectra Energy Corp. which is valued at $1,421,942. Spectra Energy Corp. makes up approx 0.83% of Hartford Financial Management’s portfolio.
Spectra Energy Corp. opened for trading at $36.04 and hit $36.15 on the upside on Wednesday, eventually ending the session at $36.12, with a gain of 0.33% or 0.12 points. The heightened volatility saw the trading volume jump to 31,60,450 shares. Company has a market cap of $25,320 M.
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.. 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.