Morgan Stanley Reiterates “Underweight” Rating for Spectra Energy Partners, LP (SEP)

Morgan Stanley reissued their underweight rating on shares of Spectra Energy Partners, LP (NYSE:SEP) in a report issued on Saturday morning. They currently have a $46.00 target price on the pipeline company’s stock.

A number of other equities research analysts have also issued reports on SEP. Citigroup Inc reissued a neutral rating on shares of Spectra Energy Partners, in a report on Wednesday, January 18th. Royal Bank of Canada reissued an outperform rating and issued a $56.00 price objective (down previously from $58.00) on shares of Spectra Energy Partners, in a report on Friday, January 20th. Finally, Zacks Investment Research raised shares of Spectra Energy Partners, from a sell rating to a hold rating in a report on Tuesday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Spectra Energy Partners, presently has an average rating of Hold and a consensus price target of $52.33.

Shares of Spectra Energy Partners, (NYSE:SEP) traded up 0.68% on Friday, reaching $44.13. 469,237 shares of the company traded hands. Spectra Energy Partners, has a 1-year low of $40.19 and a 1-year high of $50.43. The stock has a 50-day moving average price of $43.30 and a 200 day moving average price of $44.06. The firm has a market capitalization of $13.63 billion, a P/E ratio of 15.52 and a beta of 0.66.

Spectra Energy Partners, (NYSE:SEP) last issued its earnings results on Friday, February 17th. The pipeline company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.01. Spectra Energy Partners, had a net margin of 46.49% and a return on equity of 10.00%. The business earned $663 million during the quarter, compared to analyst estimates of $692.08 million. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that Spectra Energy Partners, will post $3.34 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SEP. Naples Global Advisors LLC acquired a new position in Spectra Energy Partners, during the first quarter valued at approximately $462,000. Round Table Services LLC acquired a new position in Spectra Energy Partners, during the first quarter valued at approximately $243,000. Bollard Group LLC raised its position in Spectra Energy Partners, by 11.8% in the first quarter. Bollard Group LLC now owns 135,551 shares of the pipeline company’s stock valued at $5,918,000 after buying an additional 14,360 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Spectra Energy Partners, by 58.0% in the first quarter. Duff & Phelps Investment Management Co. now owns 395,000 shares of the pipeline company’s stock valued at $17,246,000 after buying an additional 145,000 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Spectra Energy Partners, by 37.9% in the first quarter. Capital Investment Advisors LLC now owns 16,036 shares of the pipeline company’s stock valued at $700,000 after buying an additional 4,411 shares during the last quarter. 19.38% of the stock is owned by institutional investors and hedge funds.

Spectra Energy Partners, Company Profile

Spectra Energy Partners, L.P. through its subsidiaries and equity affiliates, 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. Its segments include U.S. Transmission, Liquids and Other. The U.S.

5 Day Chart for NYSE:SEP

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