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News Breaks
January 14, 2013
08:09 EDTSEP, SESpectra Energy, Spectra Energy Partners announce agreement with Eastern Chemical
Spectra Energy (SE) and Spectra Energy Partners (SEP) announced that their East Tennessee Natural Gas pipeline has executed agreements with Eastman Chemical Company to provide an additional 86 million cubic feet per day of firm transportation capacity for 25 years to Eastman's Kingsport, Tennessee, facility. The projects have a combined capital cost of approximately $120M and include modifying existing ETNG facilities and building a new 6.4-mile pipeline extension. Coupled with Eastman's current contracts, ETNG will provide 121 Mmcf/d of firm capacity to the Kingsport facility when the projects are completed.
News For SE;SEP From The Last 14 Days
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February 8, 2016
10:00 EDTSEP, SEOn The Fly: Analyst Initiation Summary
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07:59 EDTSEPSpectra Energy Partners initiated with a Buy at Deutsche Bank
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07:58 EDTSESpectra Energy initiated with a Hold at Deutsche Bank
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February 4, 2016
08:41 EDTSEP, SESpectra Energy sees 2016 EBITDA $2.9B, DCF $1.31B
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07:12 EDTSEP, SESpectra Energy, Spectra Energy Partners provide assumptions for three-year plan
The company assumes: For all three years, natural gas liquids prices of 42 cents per gallon; natural gas prices of $2.50 per thousand cubic feet; and crude oil prices of $45 per barrel; Maintenance CapEx of $615 million in 2016, $625 million in 2017, and $640 million in 2018; Cash tax rates of 1.8% in 2016, 4.2% in 2017, and 14.8% in 2018; Investment of approximately $6 billion in expansion capital over the plan period, with $3.0 billion invested in 2016, $1.9 billion in 2017 and $1.2 billion in 2018; SEP's share of CapEx is about 61% in 2016, 68% in 2017, and 81% in 2018.
07:11 EDTSEPSpectra Energy Partners sees dividend increases of 1.25c each Q through 2018
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07:11 EDTSEPSpectra Energy Partners sees FY16 DCF of $1.3B, with CAGR of 15.6% through 2018
07:11 EDTSESpectra Energy expects dividend increase of 14c per share annually through 2018
Sees dividend coverage of 1.2x in 2016, 1.3x in 2017, and 1.1x in 2018.
07:10 EDTSESpectra Energy expects 2016 DCF up 6% to $1.4B
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February 3, 2016
14:31 EDTSEPNextEra subsidiary receives 'key' FERC approval for Florida project
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13:55 EDTSE, SEPSpectra Energy and Spectra Energy Partners to host analyst and investor meeting
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12:24 EDTSEOn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
11:02 EDTSEPSabal Trail Transmission project receives FERC certificate
Sabal Trail Transmission, LLC, a joint venture of Spectra Energy Partners (SEP), NextEra Energy (NEE) and Duke Energy (DUK), received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission to construct and operate the Sabal Trail interstate natural gas pipeline project. This approval authorizes Sabal Trail, subject to certain conditions, to proceed with final preparations to commence construction in the coming months to meet a May 1, 2017, in-service date. Once complete, the 516-mile pipeline would have the capacity to deliver approximately 1.1 billion cubic feet of natural gas per day to the Southeast U.S., including firm transportation services to Florida Power & Light Company and Duke Energy of Florida.
06:43 EDTSEPSpectra Energy Partners reports Q4 revenue $634M, consensus $636.94M
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06:39 EDTSESpectra Energy announces annual dividend increase of 14c per share for FY16
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06:32 EDTSESpectra Energy reports Q4 EPS 28c, consensus 32c
Reports Q4 operating revenue $1.32B, consensus $1.54B.
06:28 EDTSEPSpectra Energy Partners increases distribution 1.25c to 63.88c per share
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February 2, 2016
14:32 EDTSENotable companies reporting before tomorrow's open
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February 1, 2016
09:02 EDTSESpectra Energy management to meet with JPMorgan
Meetings to be held in Boston/Philadelphia on February 4 and in Boston on February 5 hosted by JPMorgan,

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