In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Spectra Energy Partners Lp (NYSE:SEP) reported that Enbridge Inc. has picked up 236,792,888 of common stock as of 2017-03-09.
The acquisition brings the aggregate amount owned by Enbridge Inc. to a total of 236,792,888 representing a 75.1% stake in the company.
For those not familiar with the company, Spectra Energy Partners, L.P., through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids (NGLs). The Company’s segments include U.S. Transmission, Liquids and Other. The U.S. Transmission business primarily provides transmission, storage, and gathering of natural gas for customers in various regions of the northeastern and southeastern United States. The U.S. Transmission segment also processes natural gas on its Texas Eastern system. The Liquids business provides transportation and storage of crude oil for customers in central United States and Canada. The Company has over 15,000 miles of transmission and transportation pipelines, and the storage of natural gas in underground facilities with aggregate working gas storage capacity of approximately 170 billion cubic feet (Bcf) in the United States and Canada.
A glance at Spectra Energy Partners Lp (NYSE:SEP)’s key stats reveals a current market capitalization of 13.25 Billion based on 308.40 Million shares outstanding and a price at last close of $42.74 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-17, Ebel picked up 8,000 at a purchase price of $41.58. This brings their total holding to 22,295 as of the date of the filing.
On the sell side, the most recent transaction saw Fiedorek unload 5,000 shares at a sale price of $31.00. This brings their total holding to 6,500.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Spectra Energy Partners Lp (NYSE:SEP) as things move forward to see if its progress aligns with these transactions.
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