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Spectra Energy Stock Rose by 11% in January 2016


Jan. 31 2016, Updated 4:06 p.m. ET

Spectra Energy increased its dividends

On January 5, 2016, Spectra Energy (SE) increased its quarterly dividends from $0.37 per share to $0.41 per share. This represents a quarter-over-quarter rise of 9.5%. The company hadn’t increased its dividends for the last four quarters. The stock closed 1.7% higher on the day of the announcement.

Spectra Energy rose by 11% since the beginning of 2016. In comparison, other midstream energy companies including ONEOK (OKE), Enbridge Energy Partners (EEP), and Energy Transfer Partners (ETP) fell by 6%, 29%, and 16%, respectively, in the same period. The Alerian MLP ETF (AMLP) fell by 19% since the beginning of 2016. A 9.5% rise in quarterly dividends possibly supported Spectra Energy’s stock price in 2016 when the energy midstream sector fell broadly.

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Historic price performance

As the above graph shows, Spectra Energy fell 19% over the past year. Its first and second quarter results in May and August 2015, respectively, didn’t stop its downward slide. It continued to follow energy commodity prices. A flat dividend announcement for the third quarter on October 8 also contributed to its fall.

Combined with falling oil prices, Spectra Energy’s third quarter results brought the stock down. It announced the results on November 4, 2015. The company announced a 10% fall in its year-over-year EBITDA for the quarter.

Next, we’ll discuss Wall Street analysts’ recommendations and price targets for Spectra Energy before to its 4Q15 earnings release.


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