Tower Bridge Advisors buys $12,392,215 stake in Spectra Energy Corp. (SE)

Spectra Energy Corp. (SE) : Tower Bridge Advisors scooped up 77,753 additional shares in Spectra Energy Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 340,820 shares of Spectra Energy Corp. which is valued at $12,392,215.Spectra Energy Corp. makes up approximately 1.50% of Tower Bridge Advisors’s portfolio.

Other Hedge Funds, Including , Tetrem Capital Management Ltd. reduced its stake in SE by selling 11,814 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 1,611,196 shares of SE which is valued at $58,583,087. Spectra Energy Corp. makes up approx 2.17% of Tetrem Capital Management Ltd.’s portfolio. Engineers Gate Manager Lp sold out all of its stake in SE during the most recent quarter. The investment firm sold 16,501 shares of SE which is valued $599,976.Employees Retirement System Of Texas reduced its stake in SE by selling 2,000 shares or 5.0% in the most recent quarter. The Hedge Fund company now holds 38,000 shares of SE which is valued at $1,381,680. Spectra Energy Corp. makes up approx 0.02% of Employees Retirement System Of Texas’s portfolio.Schooner Investment Group. reduced its stake in SE by selling 4,000 shares or 57.14% in the most recent quarter. The Hedge Fund company now holds 3,000 shares of SE which is valued at $108,420. Spectra Energy Corp. makes up approx 0.26% of Schooner Investment Group.’s portfolio.

Spectra Energy Corp. opened for trading at $35.64 and hit $35.74 on the upside on Monday, eventually ending the session at $35.73, with a gain of 0.25% or 0.09 points. The heightened volatility saw the trading volume jump to 29,17,426 shares. Company has a market cap of $25,047 M.

On the company’s financial health, Spectra Energy Corp. reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.28. The company had revenue of $1159.00 million for the quarter, compared to analysts expectations of $1294.10 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Spectra Energy Corp.. Simmons Initiated Spectra Energy Corp. on Aug 1, 2016 to “Overweight”, Price Target of the shares are set at $41.RBC Capital Mkts Initiated Spectra Energy Corp. on Jun 27, 2016 to “Outperform”, Price Target of the shares are set at $39.

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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