Spectra Energy Foresees Bright Future

Written By Brianna Panzica

Posted December 7, 2011

Spectra Energy (NYSE: SE) is optimistic for the coming year.

Even more optimistic than analysts.  According to the Financial Post, a poll by Thomson Reuters showed that analysts expect $1.86 per share for 2012.

But Spectra officials foresee an even better year.  The company estimated $1.90 per share in earnings.

Spectra Energy works mainly in operating natural gas pipelines.  Demand has risen lately as natural gas production skyrockets.

As CEO Greg Ebel told the Financial Post:

“We continue to see capital investment opportunities in the $1 billion-plus range per year for the foreseeable future.”

The company plans to surpass earnings for fiscal year 2011 by 15% in 2012, Nasdaq reports.  Since the target for 2011 is $1.65, it looks like Spectra is right on track.

A large portion of the growth, Spectra says, will likely come from the company’s joint venture with ConocoPhillips (NYSE: COP), DCP Midstream, as the Financial Post reports.

According to Nasdaq, the company expects a 7.7% increase in dividend, bringing the annual dividend for 2012 in at $1.12.

Spectra Energy was down 0.47% on Wednesday to $29.50.  The company, Financial Post reports, has increased 18% in value over the past year.

That’s all for now,


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