St. James Investment Company buys $615,632 stake in Spectra Energy Partners LP (SEP)

Spectra Energy Partners LP (SEP) : St. James Investment Company scooped up 2,960 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 Aug 1, 2016. The investment management firm now holds a total of 12,799 shares of Spectra Energy Partners LP which is valued at $615,632.Spectra Energy Partners LP makes up approximately 0.08% of St. James Investment Company’s portfolio.

Other Hedge Funds, Including , Agf Investments reduced its stake in SEP by selling 67 shares or 27.35% in the most recent quarter. The Hedge Fund company now holds 178 shares of SEP which is valued at $8,562. Hamlin Capital Management added SEP to its portfolio by purchasing 843,610 company shares during the most recent quarter which is valued at $40,527,024. Spectra Energy Partners LP makes up approx 1.86% of Hamlin Capital Management’s portfolio.Alps Advisors Inc reduced its stake in SEP by selling 163,668 shares or 3.8% in the most recent quarter. The Hedge Fund company now holds 4,144,229 shares of SEP which is valued at $199,088,761. Spectra Energy Partners LP makes up approx 1.76% of Alps Advisors Inc’s portfolio.Country Club Trust Company N.a. reduced its stake in SEP by selling 2,478 shares or 19.66% in the most recent quarter. The Hedge Fund company now holds 10,129 shares of SEP which is valued at $493,890. Spectra Energy Partners LP makes up approx 0.07% of Country Club Trust Company N.a.’s portfolio. Donald L. Hagan sold out all of its stake in SEP during the most recent quarter. The investment firm sold 200 shares of SEP which is valued $9,752.

Spectra Energy Partners LP opened for trading at $47.94 and hit $49.39 on the upside on Thursday, eventually ending the session at $48.89, with a gain of 1.64% or 0.79 points. The heightened volatility saw the trading volume jump to 4,33,434 shares. Company has a market cap of $14,025 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. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Simmons Initiated Spectra Energy Partners LP on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $60.Stifel Initiated Spectra Energy Partners LP on May 31, 2016 to “Buy”, Price Target of the shares are set at $50.

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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