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,