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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 #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) Q3 Earnings Beat
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 #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:
SPECTRA ENERGY Price and EPS Surprise
SPECTRA ENERGY Price and EPS Surprise | SPECTRA ENERGY Quote
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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>