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Jefferies Adjusts 2011 EPS Estimates on Spectra Energy

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Jefferies is increasing its 2Q11 EPS estimate on Spectra Energy Corp. (NYSE: SE) by $0.10 to $0.40 and lowering its 4Q11 by $0.10 to $0.40.

“The primary driver for the expected improvement is stronger commodity prices,” Jefferies writes. “In 2Q10, oil prices averaged $78/bbl and in 2Q11 oil prices averaged $101/bbl. Also contributing to the anticipated strength in the 2Q11 is greater earnings from the company's US transmission business. Partly offsetting these positives is greater Other expenses.”

Spectra Energy closed Thursday at $26.92.

 

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Posted-In: Jefferies Spectra EnergyAnalyst Ratings

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