Spectra Energy (SE) Targets FY13 EPS of $1.50

January 16, 2013 8:12 AM EST
Spectra Energy Corp (NYSE: SE) today announced its financial plan for 2013, which includes the following:

*Ongoing 2013 diluted earnings per share (EPS) target of $1.50.

*Annual dividend of $1.22, consistent with previously announced 10-cent increase.

*Investment of approximately $1.4 billion in expansion capital in 2013, consistent with Spectra Energy's long-term growth plan of $1.5 billion average annual growth capital expenditures (CapEx).

(***Street estimates call for 2013 EPS of $1.64)

Key assumptions underlying Spectra Energy's 2013 financial plan include:

*An average natural gas liquids price of 80 cents per gallon; natural gas price of $3.75 per thousand cubic feet (Mcf); and crude averaging $90 per barrel.
Break-even earnings before interest and taxes (EBIT) at the Empress gas processing plant in Western Canada.

*Expansion CapEx of $1.4 billion.

*Maintenance CapEx of $790 million.

*A Canadian/U.S. dollar exchange rate at parity.

Excludes Express-Platte Pipeline System earnings, pending acquisition closing.
No SE equity issuance

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Related Entities

Dividend, Crude Oil, Earnings

Add Your Comment