Spectra Energy Corp

Companies in the midstream sector that are included in the XLE portfolio include Kinder Morgan, Oneok, the Williams Company, and Spectra Energy.

Spectra Energy Corp. (SE), headquartered in Houston, Texas, owns and operates a large and diversified portfolio of natural gas–related assets in North America.

Enterprise Products Partners (EPD) is the largest company by market capitalization and enterprise value, or EV, among its closest peers. By market cap, Williams Companies (WMB) follows next.

On January 27, 2017, Midcoast Energy Partners (MEP) announced an agreement with Enbridge Energy (EECI), an indirect wholly-owned subsidiary of Enbridge (ENB).

The API crude oil inventory rose for the fourth consecutive week. The rising crude oil inventory will continue to put pressure on crude oil prices.

Williams Companies (WMB) has $30 billion in total committed and potential capital investments in Williams Partners (or WPZ) and Access Midstream Partners (or ACMP).

Kinder Morgan Inc. (KMI) was formed in 1997 when current CEO Richard Kinder, and former vice chairman William Morgan acquired the general partner of a small limited partnership—Enron Liquids Pipeline L.P.

Williams Companies (WMB) released its 3Q14 earnings on October 29, 2014. Between 3Q12 and 3Q14, WMB’s adjusted earnings per share (or EPS) decreased ~40%.

Spectra Energy Corp. (SE) was borne out of Duke Energy Corporation (DUK), which is an energy utility firm, forming Spectra Energy Partners (SEP) in 2007.

Takeaway capacity in Appalachia As we’ve learned so far in this series, rising natural gas production in the Appalachian region has created the need for new midstream infrastructure, including natural gas processing plants (see the previous article) and pipelines. Several new pipeline projects are being developed to increase takeaway capacities from the Marcellus and Utica supply […]

Enbridge Energy Partners (EEP) expects 2017 adjusted EBITDA to be lower than its 2016 estimated adjusted EBITDA.

Oneok (OKE), the midstream C corporation GP (general partner) of Oneok Partners (OKS), was downgraded by Jefferies from “hold” to “underperform.”

Energy Transfer Partners (ETP) has agreed to merge into Sunoco Logistics Partners (SXL) in an all-stock deal.

Enbridge’s (ENB) acquisition of Spectra Energy (SE) offers diversification benefits to Enbridge by expanding into SE’s natural gas business.

On September 6, 2016, Enbridge (ENB) and Spectra Energy (SE) announced a stock-for-stock merger agreement, which values Spectra Energy common stock at $28 billion.

ONEOK (OKE) and ONEOK Partners (OKS) are scheduled to report their 2Q16 results on August 2. Here’s what you need to know.

The midstream Kinder Morgan trades 39% below its 100-day moving average. During the last rate hike in December 2015, KMI traded in the range of $15 to $16.

As of January 26, midstream giants Kinder Morgan and Williams Companies were trading 36.2% and 40.1%, respectively, below their 100-day moving averages.

About 46% of the analysts surveyed have rated Plains All American a “buy,” while 50% have rated it a “hold,” and 4% have rated it a “sell.”

Spectra Energy Partners manages its business through its US Transmission and Liquids segments. Its US Transmission segment contributes nearly 85% of EBITDA.

Despite an expected dividend growth close to the peer average, ONEOK has a higher forward yield compared to the average for its peers.

ONEOK’s cash flow available for dividends for the nine months ended September 30, 2015, is $474.7 million. So it’s on track to meet its guidance for cash flow available for dividends.

One factor impacting Spectra Energy’s stock price is the value of the Canadian dollar. Nearly 60% of SE’s 2014 revenues came from its Canadian operations.

SE carries out operations through four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing, and Field Services.

Spectra Energy has generally been trading below its 50-day moving average since mid-2014, when energy prices began falling.

Spectra Energy’s performance in 2015 up to the third quarter is in-line with the guidance for the year provided in the company’s February analyst meeting.

According to data from the U.S. Energy Information Administration, US crude production dropped to 9.4 million barrels per day in the week ended July 24.

The storage and transportation subsector within XLE rose by 0.66% during the week. Spectra Energy (SE) and Kinder Morgan (KMI) were the best and worst performers, respectively, in this subsector.

Spectra Energy 4Q14 adjusted earnings beat estimates by 46%. On average, adjusted EPS has exceeded consensus EPS by ~9% in the past ten quarters.

Williams Companies Inc. (WMB) is in the business of energy transport and processing infrastructure. Its diversified operations include interstate gas pipelines, local midstream operations, and olefins production.

Williams Companies’ (WMB) NGL & Petchem Services segment consists primarily of Canadian midstream operations and certain domestic olefins pipeline assets.