Where are Anderson and Fowler when Spectra is going down 14% from it's high? They should be out promoting the stock and letting mutual fund managers know what a value it is to stop the bleeding, but they must be hiding in their office. They should also be explaining to shareholders why the stock price is dropping. I hope they don't unlock the value anymore or I'll be broke. It's obvious some utility specific mutual funds have sold Spectra since it not a utility, but other funds should be buying.
The other thing weighing on SE (besides the dumping of stuck for index/style restriction purposes) is the price of crude oil. SE's 50% interest in DCP is sensitive to the price of crude. On the SE road show there's a slide that states DCP's sensitivity to the price of crude is essentially this: For every +/- $1 in the price of crude DCP's EBIT is +/- $15 Million. Also, their base assumption when making their financial projections was $68.50 per barrel of oil through 2007. This is a key piece of info. and a big reason for the poor performance of SE. I must admit this is a bit of info. that I missed in my initial analysis. Essentially, SE's operating profits will be 270 million less than their initial projections if oil stays near $50/barrel.