Tortoise Capital Advisors L.l.c. Lowers stake in Spectra Energy Partners LP (SEP)

Spectra Energy Partners LP (SEP) : Tortoise Capital Advisors L.l.c. reduced its stake in Spectra Energy Partners LP by 11.62% during the most recent quarter end. The investment management company now holds a total of 12,165,045 shares of Spectra Energy Partners LP which is valued at $567,499,349 after selling 1,599,254 shares in Spectra Energy Partners LP , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Spectra Energy Partners LP makes up approximately 3.96% of Tortoise Capital Advisors L.l.c.’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc sold out all of its stake in SEP during the most recent quarter. The investment firm sold 6,042 shares of SEP which is valued $281,859. Payden Rygel added SEP to its portfolio by purchasing 159,000 company shares during the most recent quarter which is valued at $7,703,550. Spectra Energy Partners LP makes up approx 0.86% of Payden Rygel’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in SEP in the latest quarter, The investment management firm added 31,100 additional shares and now holds a total of 62,500 shares of Spectra Energy Partners LP which is valued at $3,006,250. Spectra Energy Partners LP makes up approx 0.01% of State Of New Jersey Common Pension Fund D’s portfolio.Provise Management Group boosted its stake in SEP in the latest quarter, The investment management firm added 2,394 additional shares and now holds a total of 12,114 shares of Spectra Energy Partners LP which is valued at $582,683. Spectra Energy Partners LP makes up approx 0.10% of Provise Management Group’s portfolio.Leavell Investment Management reduced its stake in SEP by selling 500 shares or 4.18% in the most recent quarter. The Hedge Fund company now holds 11,452 shares of SEP which is valued at $551,070. Spectra Energy Partners LP makes up approx 0.08% of Leavell Investment Management’s portfolio.

Spectra Energy Partners LP closed down -0.18 points or -0.39% at $46.1 with 3,39,768 shares getting traded on Tuesday. Post opening the session at $46.33, the shares hit an intraday low of $46.1 and an intraday high of $46.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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