Spectra Energy Partners (SEP) Target Cut at Wunderlich

Spectra Energy Partners (SEP) received a “hold” reiteration today from securities research analysts at investment firm Wunderlich.  The firm also cut their performance outlook for SEP  by adjusting their price target from $37 to $35 dollars.  Wunderlich said that their price cut was based on diminished distribution growth outlook.

SEP made its very first gain of this week of trading, on the last day of trading.  SEP is still reeling from the 52-week low of $29.64 which was set on June 17th, 2011.  It had made good headway until it began a slide recently which has seen more days of loss outweighing days of gain.  Spectra Energy Partners has yet to post earnings within 2011 so far that has enabled investors to find much positivity in accumulating shares, rather than make plays on them.

Spectra Energy Partners is slated to release their next earnings report on August 4th, 2011, and is estimated to post EPS of 39 cents.  Their last earnings report was released on May 4th, 2011, and announced EPS of 50 cents with revenue totaling $51.2 million dollars which was up 1.4% year to year.  SEP is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.

Spectra Energy Partners, LP, through its subsidiaries and equity affiliates, is engaged in the transportation and gathering of natural gas through interstate pipeline systems with over 3,100 miles of pipelines that serve the southeastern quadrant of the United States and the storage of natural gas in underground facilities with aggregate working gas storage capacity of approximately 49 billion cubic feet (Bcf).  The company has market capitalization of $2,758,956,000 and 89,200,000 shares outstanding.  SEP has a 52-week high of $36.31 with the low being $29.64 dollars.