Revenue Update on Spectra Energy Partners LP(NYSE:SEP)

Spectra Energy Partners LP(NYSE:SEP) 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 $618.00M. Analysts estimated a revenue of $649.73M. Earnings per share were $0.73. Analysts had estimated an EPS of $0.82.

In a different note, On Jul 25, 2016, Jefferies said it Maintains its rating on Spectra Energy Partners LP. In the research note, the firm Raises the price-target to $53.00 per share. The shares have been rated ‘Buy’ by the firm. Mitsubishi UFJ said it Initiates Coverage on Spectra Energy Partners LP, according to a research note issued on Jul 22, 2016. The shares have been rated ‘Neutral’ by the firm. Stifel Nicolaus said it Initiates Coverage on Spectra Energy Partners LP, according to a research note issued on May 31, 2016. The shares have been rated ‘Buy’ by the firm. On May 27, 2016, JP Morgan said it Maintains its rating on Spectra Energy Partners LP. In the research note, the firm Lowers the price-target to $61.00 per share. The shares have been rated ‘Overweight’ by the firm. Bernstein said it Initiates Coverage on Spectra Energy Partners LP, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm.

Spectra Energy Partners LP (SEP) shares turned negative on Fridays trading session with the shares closing down -0.26 points or -0.55% at a volume of 4,35,203. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $47.5012. The peak price level was also seen at $47.5012 while the days lowest was $46.65. Finally the shares closed at $46.65. The 52-week high of the shares is $52.49 while the 52-week low is $36.21. According to the latest information available, the market cap of the company is $14,403 M.

Several Insider Transactions has been reported to the SEC. On Dec 4, 2015, J D Woodward (director) purchased 1,500 shares at $39.30 per share price.

Spectra Energy Partners LP is engaged in the transmission storage and gathering of natural gas the transportation and storage of crude oil and the transportation of natural gas liquids (NGLs. The Company owns and operates natural gas transmission gathering and storage assets and crude oil transportation and storage assets in central southern and eastern United States as well as western Canada. The Company operates two segments: U.S. Transmission and Liquids. The Company’s U.S. Transmission business provides transmission storage and gathering of natural gas for customers in various regions of the northeastern and southeastern United States. The Company’s Liquids business provides transportation and storage of crude oil and transportation of NGLs for customers in central and southern United States and Canada.

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