Spirit Of America Management Corpny buys $17,831,520 stake in Spectra Energy Partners LP (SEP)

Spectra Energy Partners LP (SEP) : Spirit Of America Management Corpny scooped up 42,469 additional shares in Spectra Energy Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 407,764 shares of Spectra Energy Partners LP which is valued at $17,831,520.Spectra Energy Partners LP makes up approximately 2.36% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Country Club Trust Company N.a. reduced its stake in SEP by selling 408 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 9,721 shares of SEP which is valued at $425,099. Spectra Energy Partners LP makes up approx 0.06% of Country Club Trust Company N.a.’s portfolio.Msi Financial Services Inc boosted its stake in SEP in the latest quarter, The investment management firm added 598 additional shares and now holds a total of 7,779 shares of Spectra Energy Partners LP which is valued at $335,975. Spectra Energy Partners LP makes up approx 0.01% of Msi Financial Services Inc’s portfolio.Raymond James Trust N.a. boosted its stake in SEP in the latest quarter, The investment management firm added 1,999 additional shares and now holds a total of 9,631 shares of Spectra Energy Partners LP which is valued at $413,170. Spectra Energy Partners LP makes up approx 0.04% of Raymond James Trust N.a.’s portfolio.Carroll Financial Associates reduced its stake in SEP by selling 2,037 shares or 36.78% in the most recent quarter. The Hedge Fund company now holds 3,501 shares of SEP which is valued at $150,193. Spectra Energy Partners LP makes up approx 0.02% of Carroll Financial Associates’s portfolio.Beacon Financial Group reduced its stake in SEP by selling 4,746 shares or 11.31% in the most recent quarter. The Hedge Fund company now holds 37,209 shares of SEP which is valued at $1,567,243. Spectra Energy Partners LP makes up approx 0.33% of Beacon Financial Group’s portfolio.

Spectra Energy Partners LP opened for trading at $43.42 and hit $43.77 on the upside on Friday, eventually ending the session at $43.73, with a gain of 1.25% or 0.54 points. The heightened volatility saw the trading volume jump to 4,12,884 shares. Company has a market cap of $13,502 M.

On the company’s financial health, Spectra Energy Partners LP reported $0.73 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.81. The company had revenue of $618.00 million for the quarter, compared to analysts expectations of $640.63 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Many Wall Street Analysts have commented on Spectra Energy Partners LP. Spectra Energy Partners LP was Downgraded by Piper Jaffray to ” Neutral” on Sep 7, 2016. Spectra Energy Partners LP was Downgraded by Simmons to ” Neutral” on Sep 7, 2016. Spectra Energy Partners LP was Upgraded by Tudor Pickering to ” Buy” on Sep 7, 2016.

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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