UPDATE - Barclays Downgraded Spectra Energy Partners (SEP) to Equalweight; Limited Expansion Opportunities
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Price: $35.40 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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UPDATE - Barclays downgraded Spectra Energy Partners (NYSE: SEP) from Overweight to Equalweight, maintains price target of $34.00.
Analyst, Richard Gross, said, "We are downgrading SEP given the partnership's limited organic expansion opportunities and its exposure to storage markets. The difficult backdrop for pipeline and storage markets in the last year has eroded SEP's ability to grow distributions in the low double digits as it did in 2009 and 2010."
Also, Gross estimated approx. $228 million for 2012 distributions (ex-items) vs. the company's $222 million.
Shares opened lower and have continued to trade in the red all session...current quote $31.68, down $0.56 (-1.73%)
To see more ratings on SEP, Click Here
Analyst, Richard Gross, said, "We are downgrading SEP given the partnership's limited organic expansion opportunities and its exposure to storage markets. The difficult backdrop for pipeline and storage markets in the last year has eroded SEP's ability to grow distributions in the low double digits as it did in 2009 and 2010."
Also, Gross estimated approx. $228 million for 2012 distributions (ex-items) vs. the company's $222 million.
Shares opened lower and have continued to trade in the red all session...current quote $31.68, down $0.56 (-1.73%)
To see more ratings on SEP, Click Here
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