NEW YORK (TheStreet) -- Shares of Spectra Energy Corp.  (SE - Get Report) are spiking, up 4.27% to $36.15 in late afternoon trading Thursday, after the natural gas company reported better than expected fourth quarter 2014 earnings results yesterday.

For the quarter, the company posted a profit of 47 cents per share, higher than the 41 cents it posted a year ago, surpassing analysts' expectations of 31 cents per share.

The natural gas pipeline operator's revenue of $1.6 billion for the quarter also topped analysts' estimate of $1.56 billion, according to Yahoo! Finance.

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For the year, the company reported a profit of $1.08 billion, or $1.61 per share, on revenue of $5.9 billion.

Houston-based Spectra Energy owns and operates a portfolio of complementary natural gas-related energy assets and is a natural gas infrastructure company. The company provides transportation and storage of natural gas to customers in various regions of the U.S. and Canada.

Separately, TheStreet Ratings team rates SPECTRA ENERGY CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SPECTRA ENERGY CORP (SE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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