We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Spectra Energy (SE) Increases First-Quarter 2017 Dividend
Read MoreHide Full Article
Leading pipeline and midstream playerSpectra Energy Corp (SE - Free Report) has declared a cash dividend for the first quarter of 2017.
The new dividend of 44 cents represents an increase of almost 9% from the prior dividend of 40.5 cents. The increased dividend will likely be paid on Mar 1, 2017, to shareholders of record as of Feb 15, 2017. Based on closing price of $42.27 per share on Jan 5, 2017, the stock is reflecting a dividend yield of 4.2%.
Management believes that the company’s dividend growth projection will get much more strengthened once the merger with midstream energy company Enbridge Inc. (ENB) gets completed by first quarter of this year. In 2017, the combined company’s investors will get benefit by the 15% yearly dividend hike. Through 2024, Spectra Energy is expected to witness 10 to 12% annual increase.
Houston, Texas-based Spectra Energy through its subsidiaries and equity affiliates, engages in the ownership and operation of a portfolio of complementary natural gas-related energy assets.
Although oil and gas prices have started improving, the commodity prices are way below than it was during the beginning of 2014. The persistently weak oil and natural gas prices have led to a decreased production in 2016 as against the massive 2015 volumes. This has decreased the demand for oil and gas pipeline facilities which might hurt future cash generation abilities of Spectra Energy.
As a result, Spectra Energy carries a Zacks Rank #4 (Sell).
Better-ranked players in the energy sector are Imperial Oil Limited (IMO - Free Report) , Suncor Energy Inc. (SU - Free Report) and Newfield Exploration Company . Imperial Oil and Suncor sport a Zacks Rank #1 (Strong Buy) while Newfield carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Imperial Oil is undervalued, as revealed by its forward PE ratio of 18.21 as compared to 143.7 for broader industry.
McDermott beat the Zacks Consensus Estimate in each of the last four quarters with an average earnings surprise of 474.04%.
Suncor posted an average earnings surprise of 40.55% for the last four quarters.
Newfield surpassed the Zacks Consensus Estimate in three of the last four quarters with an average earnings surprise of 754.83%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Spectra Energy (SE) Increases First-Quarter 2017 Dividend
Leading pipeline and midstream playerSpectra Energy Corp (SE - Free Report) has declared a cash dividend for the first quarter of 2017.
The new dividend of 44 cents represents an increase of almost 9% from the prior dividend of 40.5 cents. The increased dividend will likely be paid on Mar 1, 2017, to shareholders of record as of Feb 15, 2017. Based on closing price of $42.27 per share on Jan 5, 2017, the stock is reflecting a dividend yield of 4.2%.
Management believes that the company’s dividend growth projection will get much more strengthened once the merger with midstream energy company Enbridge Inc. (ENB) gets completed by first quarter of this year. In 2017, the combined company’s investors will get benefit by the 15% yearly dividend hike. Through 2024, Spectra Energy is expected to witness 10 to 12% annual increase.
Houston, Texas-based Spectra Energy through its subsidiaries and equity affiliates, engages in the ownership and operation of a portfolio of complementary natural gas-related energy assets.
Although oil and gas prices have started improving, the commodity prices are way below than it was during the beginning of 2014. The persistently weak oil and natural gas prices have led to a decreased production in 2016 as against the massive 2015 volumes. This has decreased the demand for oil and gas pipeline facilities which might hurt future cash generation abilities of Spectra Energy.
As a result, Spectra Energy carries a Zacks Rank #4 (Sell).
Better-ranked players in the energy sector are Imperial Oil Limited (IMO - Free Report) , Suncor Energy Inc. (SU - Free Report) and Newfield Exploration Company . Imperial Oil and Suncor sport a Zacks Rank #1 (Strong Buy) while Newfield carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Imperial Oil is undervalued, as revealed by its forward PE ratio of 18.21 as compared to 143.7 for broader industry.
McDermott beat the Zacks Consensus Estimate in each of the last four quarters with an average earnings surprise of 474.04%.
Suncor posted an average earnings surprise of 40.55% for the last four quarters.
Newfield surpassed the Zacks Consensus Estimate in three of the last four quarters with an average earnings surprise of 754.83%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>