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Spectra Energy Partners(SEP - Get Report) engages in the transportation of natural gas through interstate pipeline systems, and the storage of natural gas in underground facilities in the U.S. This stock is trading up 2.1% at $31.40 in recent trading.
Today's Volume: 240,000
Average Volume: 102,417
Volume % Change: 386%
Shares of SEP are moving modestly higher today after the company announced that the board of directors of its general partner declared a quarterly cash distribution to shareholders of 49 cents per share, an increase of one-half cent over the previous level of 48.5 cents per share.
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From a technical perspective, SEP is gapping higher here back above its 200-day moving average of $31.17 with above-average volume. This move is quickly pushing SEP within range of triggering a near-term breakout trade. That trade will hit once SEP manages to take out its 50-day at $31.91, and then once it moves above some near-term overhead resistance at $32.66 to $32.85 with high volume.
Traders should now look for long-biased trades in SEP as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 102,417 shares. If that breakout triggers soon, then look for SEP to hit $35 or higher in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.