Simmons Downgrades Spectra Energy (SE) to Neutral

September 7, 2016 6:48 AM EDT
Get Alerts SE Hot Sheet
Price: $42.66 +0.28%

Rating Summary:
    6 Buy, 13 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Simmons, a unit of Piper Jaffray, downgraded Spectra Energy (NYSE: SE) from Overweight to Neutral with a price target of $41.00.

Analyst Brian Gamble commented, "SE will be part of a pro-forma entity capable of benefiting from several growth avenues (Liquids and Nat Gas Pipes, Utilities, Renewables, other Midstream assets). While the stand-alone SE had options, this transaction opens up more options and lengthens the fairway for long term growth. We are downgrading SE shares to Neutral only as a read-through to the correlation with ENB shares from now until the transaction closes. Our price target for SE remains $41."

For an analyst ratings summary and ratings history on Spectra Energy click here. For more ratings news on Spectra Energy click here.

Shares of Spectra Energy closed at $41.00 yesterday.

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