Spectra Energy leads S&P 500, shares up 11%
Published June 12, 2013
Energy News: Shares of Spectra Energy SE +10.04% led gains among stocks in the S&P 500 Index on Wednesday, up 11%. At least three firms upgraded the company’s stock after Spectra Energy on Tuesday said it would drop its last pipeline and storage assets to a master limited partnership by the end of the year,” reported Market Watch. Upgrades to “buy” included those from Morgan Stanley, Deutsche Bank, and Tudor Pickering Holt.
Spectra’s natural gas pipeline into the U.S projected $50 Billion move promising roll-out growth for others. Spectra “going to make it one of the largest MLP’s in the United States. We will increase the distribution to a penny a quarter that will put it into the top range, and that will help Spectra Energy shareholder as well, because it will take the dividend at SE from 8 cents to 12 cents a year starting next year,” reported from Cramer’s Mad Money.
- Hedge Funds Are Buying Spectra Energy Corp. (SE) (insidermonkey.com)
- Bulls Charge Spectra Energy Options Pits (minyanville.com)
- Map, details emerge about proposed $1.5 billion gas pipeline that would cross swaths of area counties (ohio.com)
- Cramer’s ‘Mad Money’ Recap: Profiting From Panic (thestreet.com)