Morgan Keegan Trims Estimates on Spectra Energy Following Soft Guidance

In a recent research report, Morgan Keegan says the growth catalyst is still missing for Spectra Energy Partners (NYSE: SEP).

In the report, Morgan Keegan further explained, “We are reducing our margin assumptions as we believe SEP could experience softness at MHP and Ozark. Our DCF/unit estimate drops by $0.16 to $2.13 while EBITDA falls by $17mm to $314mm. We are maintaining our 4% distribution growth outlook.”

Morgan Keegan maintains its Market Perform rating and $31 PT on Spectra Energy, which closed Friday at $32.24.