What Can Investors Expect From Spectra Energy (NYSE:SE) Shares After Wells Fargo’s New Coverage?


How Wells Fargo Currently Rates Spectra Energy (NYSE:SE)

In a recent research report shared with investors and clients today, Wells Fargo analysts began issuing Spectra Energy (NYSE:SE) coverage with “Market Perform” rating.

From a total of 13 analysts covering Spectra Energy Corp. (NYSE:SE) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $43 while the lowest target price is $27. The mean of all analyst targets is $33.46 with a 52.82% above today’s ($22.51) stock price. Spectra Energy Corp. was the topic of 9 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 24 with “Buy” rating. Raymond James initiated SE stock in a recent report from September 10 with “Outperform” rating. Finally, Howard Weil upgraded the stock to “Sector Perform” rating in a report issued on an August 8.

Approximately 3.85M shares of stock traded hands. Spectra Energy Corp. (NYSE:SE) has declined 37.24% since May 15, 2015 and is downtrending. It has underperformed by 33.43% the S&P500.

The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.03, from 0.99 in 2015Q2. The ratio turned negative, as 78 institutions have sold all the shares of Spectra Energy Corp. that they owned while 265 funds have taken shares off the table. 55 funds have purchased shares for the first time while 275 added to their positions. These institutions now hold 422.63 million shares or 9.88% less than the 468.96 million shares they owned in 2015Q2.

The Fund Cincinnati Casualty Co currently is holding shares equating to 10.55% of its total portfolio in Spectra Energy Corp. representing a total of 314,450 shares. Another fund,St. James Investment Company Llc, is holding a total of 2.66 million shares equating to 8.61% of their holdings. Additionally, Cincinnati Indemnity Co has a 50,000 share stake in Spectra Energy Corp. which represents 6.47% of their total portfolio. The Fund, Cincinnati Specialty Underwriters Insurance Co, based out of Ohio, has also built up a stake in the stock, which represents a total of 5.51% of their total portfolio. Finally Tsp Capital Management Group Llc, a fund which is based in the state of New Jersey reported a total holdings of 256,901 shares.

Spectra Energy Corp is a natural gas infrastructure company. The company has a market cap of $15.95 billion. The Firm owns and operates natural gas-related energy assets and a crude oil pipeline system connecting Canadian and the United States producers to refineries in the United States Rocky Mountain and Midwest regions. It has 19.53 P/E ratio. It operates in three areas of the natural gas industry: gathering and processing, transmission and storage, and distribution.

According to Zacks Investment Research, “SPECTRA ENERGY CORP is one of North America’s premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For close to a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets.”