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Spectra Energy

Spectra Energy 1st-Quarter Net Up 2.1% on Distribution Revenue

Spectra Energy Corp.'s (SE) first-quarter earnings rose 2.1%, boosted by stronger distribution revenue though transmission revenue was down.Like its peers, the company, which operates natural-gas pipelines and storage facilities in North America, has faced strong headwinds from low commodity prices, which weighed on its bottom line in recent quarters.In December, Spectra said it would pay $1.25 billion in cash for the Express-Platte Pipeline System, an acquisition that will make it one of the major movers of crude oil from Canada to the U.S. Midwest.The company said the deal closed ahead of schedule in mid-March, adding it is seeing increased utilization on the Express pipeline, with the Platte pipeline already at full capacity.Spectra reported a profit of $340 million, versus $333 million a year ago. On a per-share basis, earnings were flat at 51 cents. Operating revenue was up 2.9% to $1.59 billion.Analysts polled by Thomson Reuters had most recently forecast earnings of 48 cents a s...

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  1. Market Digests Nearly $10 Billion of New Corporate Bonds

    The corporate bond market had its busiest session for new deals in more than a month Monday, as companies finish the earnings season and switch their focus to fundin...

  2. Spectra Energy's 4th-Quarter Net Off 26% on Lower Revenue

    Spectra Energy Corp.'s (SE) fourth-quarter earnings fell 26% as distribution and transmission revenue both slipped.The company, which operates natural-gas pipelines ...

  3. Spectra Energy Plans 6% Per-Share Earnings Growth for Next Few Years

    Spectra Energy Corp. (SE) said it expects to grow its per-share earnings by 6% and raise its dividend by at least eight cents per year for the next several years, as...

  4. Spectra to Buy Express-Platte Pipeline System for $1.25 Billion

    Spectra Energy Corp. (SE) will pay $1.25 billion in cash for the Express-Platte Pipeline System, an acquisition that will make it one of the major movers of crude oi...

  5. Spectra to Buy Kinder Morgan's Express-Platte Stake for $380 Million, All of Pipeline for $1.25 Billion

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    Spectra Energy Corp. (SE) expects to post a fourth-quarter charge of $30 million related to a decision by Ontario energy regulators that will result in some revenues...

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    Spectra Energy Corp.'s (SE) third-quarter profit dropped 30% as lower commodity prices continued to pressure revenue."Spectra Energy's fee-based businesses continued...

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