Trading Report: Today, Wells Fargo & Company MN invests in 80,091 by buying Spectra Energy Partners, LP (SEP) shares

Today, Wells Fargo & Company MN invests in 80,091 by buying Spectra Energy Partners, LP (SEP) shares

Wells Fargo & Company MN increased its stake in Spectra Energy Partners, LP (NYSE:SEP) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351,315 shares of the company’s stock after buying an additional 80,091 shares during the period. Wells Fargo & Company MN owned approximately 0.12% of Spectra Energy Partners, worth $15,349,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SEP. Concorde Asset Management LLC bought a new stake in shares of Spectra Energy Partners, during the second quarter valued at about $303,000. Capital One National Association bought a new stake in shares of Spectra Energy Partners, during the second quarter valued at about $292,000. Fox Run Management L.L.C. bought a new stake in shares of Spectra Energy Partners, during the second quarter valued at about $811,000. GWM Advisors LLC bought a new stake in shares of Spectra Energy Partners, during the second quarter valued at about $679,000. Finally, First Western Capital Management Co bought a new stake in shares of Spectra Energy Partners, during the second quarter valued at about $1,648,000.

Spectra Energy Partners, LP (NYSE:SEP) traded down 1.02% during mid-day trading on Friday, hitting $43.72. The company’s stock had a trading volume of 95,004 shares. Spectra Energy Partners, LP has a 52-week low of $36.21 and a 52-week high of $50.48. The stock has a market cap of $13.38 billion, a P/E ratio of 14.79 and a beta of 0.66. The company’s 50 day moving average is $42.78 and its 200-day moving average is $45.15.

Spectra Energy Partners, (NYSE:SEP) last posted its earnings results on Wednesday, November 2nd. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.04. The business earned $628 million during the quarter, compared to analyst estimates of $665.42 million. Spectra Energy Partners,’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that Spectra Energy Partners, LP will post $3.10 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th will be issued a $0.6763 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 6.19%.

Several brokerages recently issued reports on SEP. Piper Jaffray Cos. assumed coverage on Spectra Energy Partners, in a report on Monday, August 1st. They set an “overweight” rating for the company. Simmons assumed coverage on Spectra Energy Partners, in a research note on Monday, August 1st. They issued an “overweight” rating and a $60.00 price objective for the company. Stifel Nicolaus upped their price objective on Spectra Energy Partners, from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research upgraded Spectra Energy Partners, from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Tudor Pickering upgraded Spectra Energy Partners, from a “hold” rating to a “buy” rating in a research note on Wednesday, September 7th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.21.

In other news, Director J D. Woodward acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was bought at an average price of $42.27 per share, with a total value of $105,675.00. Following the completion of the acquisition, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $1,902,150. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Ebel acquired 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average cost of $41.58 per share, with a total value of $332,640.00. Following the acquisition, the chief executive officer now directly owns 22,295 shares of the company’s stock, valued at $927,026.10. The disclosure for this purchase can be found here.

Spectra Energy Partners, Company Profile

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