Houston, Texas headquartered Spectra Energy Corp.'s stock finished Tuesday's session 0.72% lower at $41.15 with a total trading volume of 2.12 million shares. The Company's shares have surged 80.34% since the start of this year. The Company's shares are trading above their 200-day moving average by 14.99%. Moreover, shares of Spectra Energy, which owns and operates a portfolio of natural gas-related energy assets in North America, have a Relative Strength Index (RSI) of 49.33.
On December 15th, 2016, Spectra Energy announced that during a special stockholder meeting held on the day, its stockholders voted overwhelmingly to approve the previously announced combination of Spectra Energy with Enbridge Inc. in a stock-for-stock merger transaction. Once the transaction is completed, the combination will create the largest energy infrastructure company in North America and one of the largest globally, with a pro-forma enterprise value of approximately C$165 billion (US$127 billion). SE complete research report is just a click away and free at:
Shares in Denver, Colorado headquartered QEP Resources Inc. rose 1.23%, ending yesterday's session at $18.90 with a total trading volume of 3.60 million shares. The stock has gained 11.05% in the past month, 4.59% in the previous three months, and 41.04% on an YTD basis. The Company's shares are trading 5.11% above their 50-day moving average and 8.10% above their 200-day moving average. Moreover, shares of QEP Resources, which through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the US, have an RSI of 50.14.
As per a SEC filing dated December 15th, 2016, QEP Resource's Board of Directors adopted an amendment and restatement of the Company's bylaws on December 15th, 2016, to implement proxy access and make certain other conforming and clerical changes. Section 2.8 was added to Article II of the Bylaws. This section permits up to 20 shareholders owning 3% or more of the Company's outstanding common stock continuously for at least three years to nominate and include in its proxy materials director nominees constituting up to two individuals or 20% of the Board of Directors (whichever is greater), provided that the shareholder(s) and the nominee(s) satisfy the requirements specified in the Bylaws. The complimentary report on QEP can be downloaded at:
Energy Transfer Partners
On Tuesday, Dallas, Texas-based Energy Transfer Partners L.P.'s stock climbed 0.55%, to close the day at $34.95. A total volume of 4.09 million shares was traded, which was above their three months average volume of 3.54 million shares. The Company's shares have advanced 17.55% on an YTD basis. The stock is trading 0.56% above its 200-day moving average. Additionally, shares of Energy Transfer Partners, which engages in the natural gas midstream, and intrastate transportation and storage businesses in the US, have an RSI of 49.08.
On November 21st, 2016, Sunoco Logistics Partners L.P. and Energy Transfer Partners announced that they have entered into a merger agreement providing for the acquisition of Energy Transfer Partners by Sunoco Logistics Partners in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in Q1 2017.
On November 22nd, 2016, research firm Stifel downgraded the Company's stock rating from 'Buy' to 'Hold' while revising its previous target price from $48 to $37. Sign up for your complimentary research report on ETP at:
Shares in Calgary, Canada headquartered Enbridge Inc. ended the day 0.75% lower at $42.25. A total volume of 1.16 million shares was traded. The stock has gained 32.72% since the start of this year. The Company's shares are trading above their 200-day moving average by 3.58%. Furthermore, shares of Enbridge, which operates as an energy transportation and distribution company in the US and Canada, have an RSI of 48.88.
On December 15th, 2016, Enbridge announced that its shareholders overwhelmingly approved the required resolutions in connection with the merger transaction between Enbridge and Spectra Energy at the Special Meeting of shareholders. Of the common shares of Enbridge voted at the meeting, 99.42% of the Enbridge's shares voted in favour of the issuance of Enbridge's Shares as consideration for the transaction. Get free access to your research report on ENB at:
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