In a report released yesterday, Selman Akyol from Stifel Nicolaus reiterated a Hold rating on Spectra Energy Partners (NYSE: SEP), with a price target of $36. The company’s shares closed on Friday at $37.53.
According to TipRanks.com, Akyol is a 4-star analyst with an average return of 3.0% and a 61.1% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Dcp Midstream Partners Lp, and Compressco Partners LP.
The word on The Street in general, suggests a Hold analyst consensus rating for Spectra Energy Partners with a $37 average price target, a -1.4% downside from current levels. In a report issued on August 2, Barclays also maintained a Hold rating on the stock with a $40 price target.
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Based on Spectra Energy Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $726 million and net profit of $381 million. In comparison, last year the company earned revenue of $695 million and had a net profit of $234 million.
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Spectra Energy Partners LP engages in the transmission, storage, and gathering of natural gas. The company also transports and stores crude oil through the interstate pipeline systems. It operates through the following segments: U.S. Transmission, and Liquids.
