Trading Report: Today: Rikoon Group LLC Buys Shares of 4,940 Spectra Energy Partners, LP (SEP)

Today: Rikoon Group LLC Buys Shares of 4,940 Spectra Energy Partners, LP (SEP)

Rikoon Group LLC bought a new stake in Spectra Energy Partners, LP (NYSE:SEP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,940 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hamlin Capital Management LLC bought a new stake in Spectra Energy Partners, during the second quarter worth about $39,802,000. Bank of Montreal Can bought a new stake in Spectra Energy Partners, during the second quarter worth about $34,434,000. Pointe Capital Management LLC bought a new stake in Spectra Energy Partners, during the second quarter worth about $311,000. Beach Investment Counsel Inc. PA raised its stake in Spectra Energy Partners, by 14.6% in the second quarter. Beach Investment Counsel Inc. PA now owns 249,886 shares of the company’s stock worth $11,790,000 after buying an additional 31,780 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Spectra Energy Partners, by 310.2% in the second quarter. BNP Paribas Arbitrage SA now owns 37,661 shares of the company’s stock worth $1,777,000 after buying an additional 28,479 shares during the period.

Shares of Spectra Energy Partners, LP (NYSE:SEP) opened at 43.72 on Monday. The firm has a market cap of $13.38 billion, a P/E ratio of 14.79 and a beta of 0.66. Spectra Energy Partners, LP has a 52 week low of $36.21 and a 52 week high of $50.48. The stock has a 50 day moving average of $42.78 and a 200 day moving average of $45.15.

Spectra Energy Partners, (NYSE:SEP) last released its earnings results on Wednesday, November 2nd. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The business earned $628 million during the quarter, compared to analysts’ expectations of $665.42 million. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Spectra Energy Partners, LP will post $3.10 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th will be paid a $0.6763 dividend. This is a boost from Spectra Energy Partners,’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $2.71 annualized dividend and a yield of 6.19%.

SEP has been the subject of a number of research analyst reports. DA Davidson reissued a “buy” rating on shares of Spectra Energy Partners, in a research report on Friday, September 9th. Jefferies Group reaffirmed a “buy” rating on shares of Spectra Energy Partners, in a research report on Thursday, September 8th. Tudor Pickering raised shares of Spectra Energy Partners, from a “hold” rating to a “buy” rating in a research report on Wednesday, September 7th. Stifel Nicolaus raised their price objective on shares of Spectra Energy Partners, from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, US Capital Advisors raised shares of Spectra Energy Partners, from a “hold” rating to a “buy” rating in a research report on Friday, November 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $53.21.

In other news, CEO Gregory L. Ebel bought 8,529 shares of the business’s stock in a transaction on Monday, November 7th. The shares were purchased at an average price of $41.67 per share, for a total transaction of $355,403.43. Following the purchase, the chief executive officer now owns 12,895 shares of the company’s stock, valued at approximately $537,334.65. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Ebel bought 8,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was purchased at an average price of $41.58 per share, for a total transaction of $332,640.00. Following the purchase, the chief executive officer now directly owns 22,295 shares in the company, valued at approximately $927,026.10. The disclosure for this purchase can be found here.

Spectra Energy Partners, Company Profile

Spectra Energy Partners, L.P., through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids (NGLs). The Company’s segments include U.S. Transmission, Liquids and Other.

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