How Do Energy Companies Compare on Key Moving Averages?
Spectra Energy Corporation
Spectra Energy Corporation (SE) was trading 12% above its 100-day moving average yesterday. On February 8, SE’s 20-day moving average crossed above its 100-day moving average, reflecting a strong rising trend in the stock. When a short-term moving average moves above a long-term moving average, it is considered a bullish sign for the stock.
SE is currently trading 22% below its 52-week high and 40% above its 52-week low. On a YTD (year-to-date) basis, the stock has risen 25%. The MLPs shown in the chart above, excluding SE, have fallen 13% YTD collectively.
Wall Street consensus median estimates
Wall Street analysts’ consensus median estimates indicate an impressive 38% rise for these US (IVV) (SPXL) midstream companies collectively. The large cap upstream companies in this series may rise 26%, based on analysts’ consensus median estimates.
Over the next 12 months, midstream operators Magellan Midstream Partners (MMP) and Plains All American Pipeline (PAA) could see rises of 8.2% and 15.6%, respectively, from yesterday’s prices, based on Wall Street analysts’ consensus median estimates.
Browse this series on Market Realist: