Spectra Energy Partners LP (SEP), the master limited partnership that owns interests in natural gas storage and transmission throughout the United States, announced on Apr 23 that it was increasing its quarterly cash distribution by 12% compared to the first-quarter 2008 distribution.

Unitholders will receive 37 cents per unit compared to 33 cents a year ago. It is also 3% higher than the fourth quarter 2008 distribution of 36 cents.

The quarterly cash distribution equates to $1.48 per unit annually. The first quarter distribution will be payable on May 15 to unitholders of record at the close of business on May 5.

The current dividend yield, with the increase, is nearly 7%.

The partnership is a Zacks #2 Rank (buy) stock. It surprised on estimates in the fourth-quarter of 2008 by 2.94%, or 1 cent.

Spectra is scheduled to report first quarter-earnings on May 6. Consensus estimates are up a penny to 35 cents in the last 30 days.

2009 consensus estimates have jumped nearly 7% in the last 30 days to $1.55 from $1.45 per unit.

Value Fundamentals

Spectra is an attractive value stock. It is now trading at 12.6x forward earnings. Its price-to-book is just 1.32. SEP has surprised on estimates 3 out of the last 4 quarters by an average of 6.73%.

Zacks Investment Research
View original at: Zacks.com News Feed

1. (SXL) Sunoco Logistics Partners LP – Momentum – Zacks Rank BuySunoco Logistics Partners LP (SXL) has been on a very nice rally for the last...
2. (EPB) El Paso Pipeline Partners L.P. – Value – Zacks Rank BuyEl Paso Pipeline Partners L.P. (EPB), a limited partnership that operates natural gas transportation pipelines...
3. (DEP) Duncan Energy Partners – impressive fourth-quarter results 30% ahead of analyst estimatesDuncan Energy Partners LP (DEP) recently reported excellent fourth-quarter and full-year results that demonstrate the...
4. (EPB) – El Paso Pipeline Partners – In spite of all the economic turmoil and lower energy prices, analyst estimates are upEl Paso Pipeline Partners, LP (EPB) share price recently rebounded after dipping lower with crude...
5. (EPB) – El Paso Pipeline Partners – In spite of all the economic turmoil and lower energy prices, analyst estimates are upEl Paso Pipeline Partners, LP (EPB) share price recently rebounded after dipping lower with crude...
6. (EPB) – El Paso Pipeline Partners – In spite of all the economic turmoil and lower energy prices, analyst estimates are upEl Paso Pipeline Partners, LP (EPB) share price recently rebounded after dipping lower with crude...

Search Posts by Tag: SEP | Spectra Energy Partners LP | Basic Materials | Oil & Gas Pipelines

RSS Feeds by Tag: SEP | Spectra Energy Partners LP | Basic Materials | Oil & Gas Pipelines |

Other Posts by: vitalstocks | RSS Feed for this author