Jefferies Raises Price Target on Spectra Energy (SE), Details 2011 Estimates
Tweet
Share
E-mailGet Alerts SE Hot Sheet
Price: $118.38 +0.97%
Rating Summary:
31 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
31 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies is reiterating its Buy rating on shares of Spectra Energy (NYSE: SE) as it raising its price target by $1 to $30.
The firms current 2011 EPS estimate of $1.75 is based off of an oil price of $94/Bbl and is above the company's guidance of $1.65 as it is based off an oil price of $85/Bbl.
Jefferies reports that it no longer sees a need for equity in 2011 and is anticipating a dividend of $1.04 with a C$1.05/$1.00 USD exchange rate. The firm notes that management is forecasting $600 million of net interest expense, an expected tax rate of 29% and 652 million fully diluted shares outstanding. All of Jefferies estimates are roughly inline with SE's forecast.
Maintenance CAPEX has risen this year by $50 million to $700 million and is due to longwall coal mining projects that require the company to relocate some of its transmission pipe.
Jefferies is setting its Q1-Q4 EPS estimates at $0.50, $0.30, $0.40, and $0.50. The firm is also maintaining its 2012 EPS estimate of $2.00.
For more ratings news on Spectra Energy click here and for the rating history of Spectra Energy click here.
Shares of Spectra Energy closed at $27.01 yesterday.
The firms current 2011 EPS estimate of $1.75 is based off of an oil price of $94/Bbl and is above the company's guidance of $1.65 as it is based off an oil price of $85/Bbl.
Jefferies reports that it no longer sees a need for equity in 2011 and is anticipating a dividend of $1.04 with a C$1.05/$1.00 USD exchange rate. The firm notes that management is forecasting $600 million of net interest expense, an expected tax rate of 29% and 652 million fully diluted shares outstanding. All of Jefferies estimates are roughly inline with SE's forecast.
Maintenance CAPEX has risen this year by $50 million to $700 million and is due to longwall coal mining projects that require the company to relocate some of its transmission pipe.
Jefferies is setting its Q1-Q4 EPS estimates at $0.50, $0.30, $0.40, and $0.50. The firm is also maintaining its 2012 EPS estimate of $2.00.
For more ratings news on Spectra Energy click here and for the rating history of Spectra Energy click here.
Shares of Spectra Energy closed at $27.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Phillip Securities Reiterates Buy Rating on Sea Ltd. (SE)
- Clear Street Reiterates Buy Rating on Anterix Inc. (ATEX)
- Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
