Spectra Energy Corp. (SE), first discussed here on September 28, 2009 at a price of $19.19, continues to make a bee-line to $40 and beyond, and I obviously still like the business model at this stage.

Spectra's key revenue driver -- natural gas transmission -- has survived the period of sub-par natural gas prices, which will likely continue to rise modestly in 2011. Further, while few are expecting a surge to $6 per million BTUs (MMBtus) for nat gas anytime soon, the uptrend in prices and project expansion should propel higher storage and transport revenue.

Spectra Energy Corp. (SE), first discussed here on September 28, 2009, at a price of $19.19, still qualifies as a potential 'winner company for the current decade,' and I obviously still like the shares here.

Spectra's key revenue driver -- natural gas transmission - has survived the period of sub-par natural gas prices, and natural gas prices will likely continue to rise modestly in 2011. Moreover, while no one is expecting a surge to $6 per million BTUs (MMBtus) for natural gas anytime soon, the uptrend in prices and project expansion should propel higher storage and transport revenue.

I first wrote about Spectra Energy (SE) on September 28, 2009, at a price of $19.19. Its shares have, like many energy plays, overcorrected during the Dow's recent dip, but Spectra's pull-back can be viewed as a decent time to scoop-up shares.

Spectra's key revenue driver? The period of soft natural gas prices appears to be ending. While no one is expecting a surge to $6 per million BTUs (MMBtus) for nat gas anytime soon, the uptrend in prices should propel higher storage and transport revenue, and project expansions should do the same for earnings.

Midstream natural gas company Spectra Energy (SE), which I first wrote about on September 28, 2009 at a price of $19.19, has an upward that, according to my analysis, hasn't ended. Here's why:

The period of soft natural gas prices appears to be ending, hence the argument that the minor Spectra pull-back, in-sync with the Dow's late January/early February correction, is a good time to establish a position or add to shares, remains in force.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Akamai Technologies Inc. (NASDAQ: AKAM) earnings prospects garnered an analyst's upgrade.
• Applied Materials Inc. (NASDAQ: AMAT) warned of a loss for the quarter due to the economic slowdown.
• Burger King Holdings Inc. (NYSE: BKC) posted lower Q2 profit and revenue that missed estimates.
• Clorox Co. (NYSE: CLX) Q2 profit fell but beat estimates, and it reaffirmed its full-year guidance.
• Dow Chemical Co. (NYSE: DOW) swung to a Q4 loss and warned that low demand will continue.
• Hartford Financial Group Inc. (NYSE: HIG) posted a loss, cut its dividend, and offered weak guidance.

We started a new fund about two months ago and that is where we're at, 52% cash / 24% funds / 24% stocks. We are in no hurry to invest the capital and will pursue only value positions in the portfolio. Eventually we will have 2% cash / 49% funds / 49% stocks, which is what I would recommend to anyone who desires a balanced portfolio. Although it appears to many that this bull market is going to charge ahead we will not make any decisions based on this. When it comes to making any investment I generally tend not to listen to the bullish or bearish chatter and simply look at each opportunity on it's own merits, on a case by case basis.

May 8, 2006 is my one year anniversary writing for BloggingStocks. I started a couple of weeks after the site opened its doors for business with my first post: Microsoft: What are you thinking about? Since that time additional writers and editors have joined the team and the site has continued to improve. There are a lot of fantastic writers on this site with plenty to say about stocks and investing in general.

I am not a journalist or writer by profession, I have published no books, I did not go to a business school -- I am self taught in this area, with a lot of practical input from parents, mentors and experience investing. Remember the adage about experience - it's what you get when you were expecting something else.

MOST NOTEWORTHY:

• Actions Semiconductor Co., Ltd. ADS (NASDAQ:ACTS) was the only noteworthy initiation today. Shares of the fabless semiconductor company were started with an Outperform rating and $10 target at Pacific Crest. The firm believes Actions is a cheap way to play the world's largest MP3-controller vendor.

OTHER INITIATIONS:

• Lazard started Immunomedics, Inc. (NASDAQ:IMMU) with a Buy rating and $6 target.
• SuperValu, Inc. (NYSE:SVU) was initiated at Morgan Stanley with an Equal Weight rating.
• CIBC started Cameco Corp. (NYSE:CCJ) with a Sector Outpeformer rating, with expectations for uranium demand to stay robust.
• HSBC Holdings initiated shares of Liberty Global, Inc. (NASDAQ:LBTYA) with an Overweight rating.
• AG Edwards initiated Spectra Energy Corp. (NYSE:SE) with a Hold rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).