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Market Update: Spectra Energy Corp (NYSE:SE) – Spectra Energy Awarded $1.5 Billion Nueces-to-Brownsville Pipeline Project to Meet Critical Need for Natural Gas in Mexico

[PR Newswire] – HOUSTON, June 13, 2016 /PRNewswire/ — Spectra Energy Corp (NYSE: SE) today announced that its subsidiary, Valley Crossing Pipeline, LLC, has been awarded a 168-mile intrastate natural gas pipeline project … Read more on this. Spectra Energy Corp. (SE) , with a current market cap of $23.17B, began trading this morning at $33.29. Today, shares have traded between $33.08 and $33.53 per share and has traded between $21.43 and $33.85 over the past year. Spectra Energy (SE) shares are currently priced at 27.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -10.62x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.62 per share annually in dividends, yielding 4.85%. Consensus earnings for the current quarter by the 8 sell-side analysts covering the stock is an estimate of $0.25 per share, which would be $0.02 better than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.20, which would be a $0.05 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.23 Billion. If realized, that would be a 3.36% increase over the year-ago quarter. Recently, Raymond James upgraded SE from Outperform to Strong Buy (Jan 4, 2016). Previously, Wells Fargo Initiated SE at to Market Perform. When considering if perhaps the stock is under or overvalued, the average price target is $32.43, which is 2.58% below where the stock opened this morning. See more in (NYSE:SE) Similar Articles: Stock Update: Spectra Energy Corp (NYSE:SE) – Spectra Energy Selects 2016 Scholarship Recipients Market Update: Spectra Energy Corp (NYSE:SE) – Spectra Energy Partners Announces 34th Consecutive Quarterly Cash Distribution Increase Company Update: Spectra Energy Corp (NYSE:SE) – Spectra Energy and Spectra Energy Partners Schedule First Quarter 2016 Earnings Conference Call
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