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Spectra Energy Corp. Message Board

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  • harehau harehau Aug 10, 2007 2:52 PM Flag

    Good value at $24

    It's been a while since I ran the numbers. Believe I used 10x cash flow. Admittedly, the private market will not be able to pay the multiples that they did before, with the repricing of risk in the bond market, but this company is the largest pure pipeline play out there and some of the assets could be sold off, to an MLP or otherwise, the distribution business doesn't seem to fit. They should probably sell at a 20 pe multiple, so high 20's looks reasonable. Can grow at high single digits and you get a fairly good dividend. I don't think the buyout trend is over as long as rates don't move too much.

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