Spectra Energy Corp. ( (NYSE:SE) ), 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 #3 (Hold) but that could change following its third 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 beat the estimates. Earnings per share from continuing operations (excluding special items) came in at 31 cents above the Zacks Consensus Estimate of 26 cents.
Revenue: Revenues of $1,075 million came below the Zacks Consensus Estimate of $1,140 million.
Key Stats: The company produced NGLs of 403 thousand barrels per day (MBbl/d), down from the yeara-ago quarter level of 421 MBbl/d. Price of NGLs increased 7.1% and averaged 45 cents per gallon, while crude oil costs declined 3.2% and averaged approximately $44.94 per barrel, both on a year-over-year basis. Natural gas was sold at $2.81 per million British thermal units (MMBtu) as against $2.77 per MMBtu in the third 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): Free Stock Analysis Report
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