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Company Update (NYSE:SE): Spectra Energy Announces New Quarterly Dividend of $0.405 per Share

[PR Newswire] – HOUSTON, Jan. 5, 2016 /PRNewswire/ — Spectra Energy Corp (SE) has announced a 14-cent increase in its annual dividend to $1.62 per share, or $0.405 on a quarterly basis. This increase reflects our continued ability to deliver strong and reliable cash flows from our solid fee-based businesses and portfolio of secured expansion projects,” said Greg Ebel, chief executive officer, Spectra Energy. This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Read more on this. Spectra Energy Corp. (SE) , valued at $16.84B, ended trading at $24.74. A quick look at the market, the company’s stock traded between $24.80 and $25.17 and has traded between $21.43 and $38.47 over the past year. SE shares are currently priced at 21.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.53x earnings multiple for the same period. The company pays shareholders $1.48 per share in dividend income per year, for a current yield of 6.18%. In a review of the consensus earnings estimate this quarter, 10 sell-side analysts are looking at $0.33 per share, which would be $0.14 worse than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $1.17 is a $0.45 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.53 Billion. If reported, that would be a 4.38% decrease over the year-ago quarter. In terms of ratings, Raymond James upgraded SE from Outperform to Strong Buy (Jan 4, 2016). Previously, Wells Fargo Initiated SE at to Market Perform. Given all the information above, we should disclose to readers that the average price target is $32.83, which is 32.70% above than it opened this morning. See more in (NYSE:SE) Similar Articles: Company Update: Spectra Energy Corp (NYSE:SE) – Spectra Energy Partners Announces 32nd Consecutive Quarterly Cash Distribution Increase Market Update (NYSE:SE): Spectra Energy Announces Quarterly Dividend of $0.37 per Share Company Update (NYSE:SE): Spectra Energy Corp Announces Quarterly Dividend of $0.37 per Share
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