Revenue Update on Spectra Energy Corp.(NYSE:SE)

Spectra Energy Corp.(NYSE:SE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $1.16B. Analysts estimated a revenue of $1.26B. Earnings per share were $0.24. Analysts had estimated an EPS of $0.25.

In a different note, On Jul 25, 2016, Jefferies said it Maintains its rating on Spectra Energy Corp.. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Hold’ by the firm. RBC Capital said it Initiates Coverage on Spectra Energy Corp., according to a research note issued on Jun 27, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 8, 2016, Jefferies said it Maintains its rating on Spectra Energy Corp.. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Hold’ by the firm. Bernstein said it Initiates Coverage on Spectra Energy Corp., according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm.

Spectra Energy Corp. (SE) made into the market gainers list on Fridays trading session with the shares advancing 0.61% or 0.22 points. Due to strong positive momentum, the stock ended at $36.36, which is also near the day’s high of $36.665. The stock began the session at $36.2 and the volume stood at 25,13,904 shares. The 52-week high of the shares is $37.14 and the 52 week low is $21.43. The company has a current market capitalization of $25,488 M and it has 70,10,00,000 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Guy G. Buckley (Chief Development Officer) sold 21,100 shares at $29.41 per share price.Also, On Nov 17, 2015, Michael E J Phelps (director) sold 1,125 shares at $27.00 per share price.On May 22, 2015, Miranda C Hubbs (director) purchased 10,000 shares at $36.10 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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