Investment analysts at Credit Suisse upped their price objective on shares of Spectra Energy Partners, LP (NYSE:SEP) from $47.00 to $48.00 in a note issued to investors on Tuesday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s target price indicates a potential upside of 8.23% from the stock’s previous close.
Shares of Spectra Energy Partners, LP (NYSE:SEP) traded down 0.52% during mid-day trading on Tuesday, hitting $44.35. The stock had a trading volume of 59,594 shares. Spectra Energy Partners, LP has a one year low of $27.15 and a one year high of $47.73. The stock has a 50-day moving average of $43.80 and a 200-day moving average of $41.82. The company has a market cap of $4.826 billion and a price-to-earnings ratio of 27.67.
Spectra Energy Partners, LP (NYSE:SEP) last released its earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.04. The company had revenue of $133.10 million for the quarter, compared to the consensus estimate of $63.51 million. During the same quarter last year, the company posted $0.40 earnings per share. Spectra Energy Partners, LP’s revenue was up 132.7% compared to the same quarter last year. On average, analysts predict that Spectra Energy Partners, LP will post $1.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.52 per share. This represents a $2.07 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Tuesday, October 29th. This is a positive change from Spectra Energy Partners, LP’s previous quarterly dividend of $0.51.
SEP has been the subject of a number of other recent research reports. Analysts at Tudor Pickering downgraded shares of Spectra Energy Partners, LP to a “hold” rating in a research note to investors on Wednesday, October 23rd. Separately, analysts at Morgan Stanley downgraded shares of Spectra Energy Partners, LP from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday, October 23rd. They now have a $42.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Spectra Energy Partners, LP from $40.00 to $42.00 in a research note to investors on Tuesday, October 8th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Spectra Energy Partners, LP has a consensus rating of “Hold” and a consensus price target of $41.25.
Spectra Energy Partners, LP (NYSE:SEP), through its subsidiaries, is engaged in the transportation and gathering of natural gas through interstate pipeline systems.
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