BlackRock Advisors LLC cut its position in Columbia Pipeline Partners LP (NYSE:CPPL) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 453,050 shares of the company’s stock after selling 4,730 shares during the period. BlackRock Advisors LLC owned approximately 0.45% of Columbia Pipeline Partners worth $6,796,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CPPL. Wexford Capital LP purchased a new stake in Columbia Pipeline Partners during the first quarter valued at approximately $2,920,000. TPH Asset Management LLC raised its stake in Columbia Pipeline Partners by 402.1% in the first quarter. TPH Asset Management LLC now owns 129,820 shares of the company’s stock worth $1,895,000 after buying an additional 103,964 shares during the period. American Century Companies Inc. raised its stake in Columbia Pipeline Partners by 6.0% in the second quarter. American Century Companies Inc. now owns 57,690 shares of the company’s stock worth $865,000 after buying an additional 3,250 shares during the period. GSA Capital Partners LLP raised its stake in Columbia Pipeline Partners by 182.1% in the second quarter. GSA Capital Partners LLP now owns 33,359 shares of the company’s stock worth $500,000 after buying an additional 21,534 shares during the period. Finally, Harvest Fund Advisors LLC raised its stake in Columbia Pipeline Partners by 12.4% in the first quarter. Harvest Fund Advisors LLC now owns 2,549,974 shares of the company’s stock worth $37,230,000 after buying an additional 281,871 shares during the period. 96.53% of the stock is owned by institutional investors.
Shares of Columbia Pipeline Partners LP (NYSE:CPPL) opened at 16.20 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of 18.14 and a beta of 0.78. The firm has a 50-day moving average of $15.03 and a 200 day moving average of $14.66. Columbia Pipeline Partners LP has a 1-year low of $11.77 and a 1-year high of $19.49.
Columbia Pipeline Partners (NYSE:CPPL) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business earned $313.20 million during the quarter, compared to analysts’ expectations of $352.67 million. Columbia Pipeline Partners had a net margin of 6.63% and a return on equity of 1.18%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. On average, equities analysts anticipate that Columbia Pipeline Partners LP will post $0.86 earnings per share for the current fiscal year.
Several research analysts recently weighed in on CPPL shares. TheStreet lowered Columbia Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Zacks Investment Research lowered Columbia Pipeline Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. started coverage on Columbia Pipeline Partners in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. lowered Columbia Pipeline Partners from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $17.00 in a research report on Tuesday, September 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $15.75 price objective (up from $15.00) on shares of Columbia Pipeline Partners in a research report on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.34.
Columbia Pipeline Partners Company Profile
Columbia Pipeline Partners LP (the Partnership) is a limited partnership company operating a portfolio of pipelines, storage and related midstream assets. It is engaged in interstate gas transportation and storage services for local distribution companies (LDCs), marketers and industrial and commercial customers located in northeastern, mid-Atlantic, Midwestern and southern states, and the District of Columbia along with unregulated businesses that include midstream services, including gathering, treating, conditioning, processing, compression and liquids handling, and development of mineral rights positions.
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