Spectra Energy Reported Mixed Q2 Results, Top Line Up Over 11%

- Spectra Energy Reported Mixed Q2 Results, Top Line Up Over 11%



Aug 3, 2011

Spectra Energy (NYSE:SE) reported Q2 EPS of $0.42, ahead of consensus estimates of $0.40 per share. Revenues for the quarter rose 11.8% year-over-year to $1.19 billion, missing consensus estimates of $1.23 billion.

The company expects 2011 EPS to exceed the stated target of $1.65, vs. consensus estimates of $1.76 per share.

Spectra Energy has a potential upside of 13.4% based on a current price of $26.45 and an average consensus analyst price target of $30.

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UBS Upgrades Spectra Energy to Buy, Maintains $34 Target Price

- UBS Upgrades Spectra Energy to Buy, Maintains $34 Target Price



Jun 28, 2011

UBS upgraded Spectra Energy Partners LP (NYSE:SE) to buy from neutral today and maintained its $34 target price for the stock.

The bank cited valuation, as a 6% slide year-to-date provides an attractive entry point. The slide is due in part to a recent equity raise to fund its Big Sandy Pipeline purchase.

The company has a proven strategy and visible distribution growth, with ample distribution coverage, and a track record of successful acquisitions as well as organic growth initiatives, according to UBS.

Spectra Energy has a potential upside of 12.9% based on a current price of $26.68 and an average consensus analyst price target of $30.11.

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