Active Stocks News update: Spectra Energy Corp. (NYSE:SE), Phillips 66 (NYSE:PSX), Philip Morris International, Inc. (NYSE:PM)

During Thursday’s Afternoon trade, Shares of Spectra Energy Corp. (NYSE:SE), lost -0.27% to $27.78.

Houston-based energy giants Phillips 66 (NYSE: PSX) and Spectra Energy (NYSE: SE) declared plans to invest more funds into their 50/50 midstream joint venture, DCP Midstream LLC, according to American City Business Journals.

Phillips 66 will contribute $1.5 billion in cash to assist pay off the revolving credit facility for the joint venture, while Spectra will contribute one-third of its ownership interest in its Sand Hills and Southern Hills NGL pipelines. American City Business Journals Reports

The transaction is predictable to close in the fourth quarter and is intended to bolster the companys balance sheet and improvement its financial flexibility. American City Business Journals added.

Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.

Shares of Phillips 66 (NYSE:PSX), inclined 0.35% to $80.93, during its current trading session, after Warren Buffetts Berkshire Hathaway revealed that it has raised its stake in the energy company by 6%.

Berkshire Hathaway has upped its stake in Phillips 66 by 3.5 million shares to 61.5 million shares, reports. The shares are worth about $282 million at Wednesdays closing price of $80.65.

Berkshires stake in the Houston-based manufacturing and Logistics Company is now worth $4.98 billion.

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks to its refineries and other locations; and delivers refined and specialty products, in addition to provides storage services for crude oil and petroleum products.

Finally, Shares of Philip Morris International, Inc. (NYSE:PM), gained 0.69%, and is now trading at $78.81.

Shares of Philip Morris International, Inc. appreciated by 0.63% during the last five trading days but lost 8.85% on a 4-week basis. Philip Morris International, Inc. has dropped 3.73% during the last 3-month period. Year-to-Date the stock performance stands at -1.5%.

The mean short-term price target for the firm has been established at $89.71 per share. The higher price target estimate is at $94 and the lower price target estimate is predictable at $82 according to 7 Analyst. The stock price is predictable to vary based on the estimate, which is suggested by the standard deviation value of $3.86.

Philip Morris International Inc., through its auxiliaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprise Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris, and Red & White.


This article is published by The content included in this article is just for informational purposes only. takes sensible consideration to ensure that the data given in this article is up to date and accurate. The news, prices, opinions, research, analysis, and other information published in this article are obtained from sources believed to be reliable.

Neither nor any of partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article.

Investors must consult their own additional due diligence with any potential investment or highlighted company before making any decision on behalf of information offered by

Information contained in this article may contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long-term; pricing pressures; etc.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.






About Travis Garlick 1803 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.