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SEP

Spectra Energy Partners

$32.90

-0.5 (-1.50%)

08:17
04/09/18
04/09
08:17
04/09/18
08:17

Spectra Energy Partners cut to Sector Perform at RBC Capital on cash flows

As reported earlier, RBC Capital analyst Eviro Scotto downgraded Spectra Energy Partners to Sector Perform from Outperform and cut her price target to $35 from $51. Scotto says the expectations over the company's long-term cash flows are put in question following the latest FERC ruling regarding tax allowance for MLPs. While the analyst remains positive on Spectra Energy's "premier asset footprint", she sees the FERC ruling as a "multi-year overhang".

SEP Spectra Energy Partners
$32.90

-0.5 (-1.50%)

03/06/18
03/06/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Spectra Energy Partners (SEP) downgraded to Hold from Buy at Stifel with analyst Selman Akyol saying he believes the company's cash flow growth will be on the low end relative to its large cap peers. 2. GrubHub (GRUB) downgraded to Neutral from Buy at BofA/Merrill with analyst Nat Schindler. citing valuation. 3. Canadian National (CNI) downgraded to Underperform from Neutral at BofA/Merrill with analyst Ken Hoexter saying CEO Luc Jabin stepped down at a time when the company's pace of growth is set to stagnate as rising costs to maintain service levels offset volume and pricing gains. 4. General Mills (GIS) downgraded to Hold from Buy at Gabelli. 5. Fate Therapeutics (FATE) was downgraded to Market Perform from Outperform at Raymond James and to Neutral from Buy at H.C. Wainwright. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/18
WELS
03/22/18
NO CHANGE
Target $36
WELS
Market Perform
Spectra Energy Partners price target lowered to $36 from $46 at Wells Fargo
Wells Fargo analyst Michael Blum lowered his price target for Spectra Energy Partners to $36 from $46 to capture the impact of the recent FERC ruling on cost of service pipelines. The analyst reiterates a Market Perform rating on the shares.
04/06/18
USCA
04/06/18
DOWNGRADE
USCA
Hold
Spectra Energy downgraded to Hold from Overeight at US Capital Advisors
04/09/18
RBCM
04/09/18
DOWNGRADE
RBCM
Sector Perform
Spectra Energy downgraded to Sector Perform from Outperform at RBC Capital

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