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Spectra Energy Corp. (SE - Free Report) , through its subsidiaries and equity affiliates, engages in the ownership and operation of a portfolio of complementary natural gas-related energy assets. The company operates in four segments: U.S. Transmission, Distribution, Western Canada Transmission & Processing, and Field Services. The company also has 50% ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the U.S.
Currently, Spectra Energy has a Zacks Rank #2 (Buy) but that could change following its fourth quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Spectra Energy’s earnings lag the estimates. Earnings per share from continuing operations (excluding special items) came in at 29 cents below the Zacks Consensus Estimate of 33 cents.
Revenue: Revenues of $1,298 million came below the Zacks Consensus Estimate of $1,426 million.
Key Stats: The company produced NGLs of 371 thousand barrels per day (MBbl/d), down from the year-ago quarter level of 409 MBbl/d. Price of NGLs increased 31% and averaged 55 cents per gallon, while crude oil costs increased 16.5% and averaged approximately $49.15 per barrel, both on a year-over-year basis. Natural gas was sold at $2.98 per million British thermal units (MMBtu) as against $2.27 per MMBtu in the fourth quarter of 2015.
Check back later for our full write up on this Spectra Energy earnings report later!
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Spectra Energy (SE) Q4 Earnings, Revenues Lag
Spectra Energy Corp. (SE - Free Report) , through its subsidiaries and equity affiliates, engages in the ownership and operation of a portfolio of complementary natural gas-related energy assets. The company operates in four segments: U.S. Transmission, Distribution, Western Canada Transmission & Processing, and Field Services. The company also has 50% ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the U.S.
Currently, Spectra Energy has a Zacks Rank #2 (Buy) but that could change following its fourth quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Spectra Energy Corp Price and EPS Surprise
Spectra Energy Corp Price and EPS Surprise | Spectra Energy Corp Quote
Earnings: Spectra Energy’s earnings lag the estimates. Earnings per share from continuing operations (excluding special items) came in at 29 cents below the Zacks Consensus Estimate of 33 cents.
Revenue: Revenues of $1,298 million came below the Zacks Consensus Estimate of $1,426 million.
Key Stats: The company produced NGLs of 371 thousand barrels per day (MBbl/d), down from the year-ago quarter level of 409 MBbl/d. Price of NGLs increased 31% and averaged 55 cents per gallon, while crude oil costs increased 16.5% and averaged approximately $49.15 per barrel, both on a year-over-year basis. Natural gas was sold at $2.98 per million British thermal units (MMBtu) as against $2.27 per MMBtu in the fourth quarter of 2015.
Check back later for our full write up on this Spectra Energy earnings report later!
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>