Veritable buys $7,970,852 stake in Spectra Energy Partners LP (SEP)

Spectra Energy Partners LP (SEP) : Veritable scooped up 23,613 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 15, 2016. The investment management firm now holds a total of 170,865 shares of Spectra Energy Partners LP which is valued at $7,970,852.Spectra Energy Partners LP makes up approximately 0.20% of Veritable’s portfolio.

Other Hedge Funds, Including , Lpl Financial reduced its stake in SEP by selling 20,586 shares or 54.52% in the most recent quarter. The Hedge Fund company now holds 17,176 shares of SEP which is valued at $801,260. Spectra Energy Partners LP makes up approx 0.01% of Lpl Financial’s portfolio.Alliancebernstein boosted its stake in SEP in the latest quarter, The investment management firm added 228 additional shares and now holds a total of 9,650 shares of Spectra Energy Partners LP which is valued at $450,173.St. James Investment Company boosted its stake in SEP in the latest quarter, The investment management firm added 2,960 additional shares and 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 approx 0.08% of St. James Investment Company’s portfolio. Sanders Morris Harris sold out all of its stake in SEP during the most recent quarter. The investment firm sold 5,890 shares of SEP which is valued $282,956.

Spectra Energy Partners LP closed down -0.21 points or -0.46% at $45.42 with 3,85,943 shares getting traded on Thursday. Post opening the session at $45.54, the shares hit an intraday low of $44.944 and an intraday high of $45.67 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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