Spectra Energy Corp. (SE) announced after the close Tuesday that it intends to drop down all of its remaining U.S. Transmission and Storage assets to Spectra Energy Partners (SEP) by the end of the year.
Spectra Energy gapped open sharply higher Wednesday and rose in early trade, before settling into a range. The stock closed up by 3.36 at $33.68 on the highest volume of the year. Spectra Energy broke out past resistance and set a new high for the year.
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