DA Davidson reiterated their neutral rating on shares of Columbia Pipeline Partners LP (NYSE:CPPL) in a report published on Wednesday morning. The brokerage currently has a $15.75 target price on the stock, up from their prior target price of $15.00.
CPPL has been the topic of several other reports. TheStreet lowered shares of Columbia Pipeline Partners from a hold rating to a sell rating in a report on Wednesday, August 31st. Goldman Sachs Group Inc. started coverage on shares of Columbia Pipeline Partners in a report on Wednesday, July 20th. They set a neutral rating and a $15.00 price objective on the stock. Zacks Investment Research raised shares of Columbia Pipeline Partners from a sell rating to a hold rating in a report on Tuesday, June 7th. JPMorgan Chase & Co. lowered shares of Columbia Pipeline Partners from an overweight rating to a neutral rating and cut their price target for the stock from $23.00 to $17.00 in a report on Tuesday. Finally, Barclays PLC lifted their price target on shares of Columbia Pipeline Partners from $15.00 to $17.00 and gave the stock an equal weight rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Columbia Pipeline Partners presently has a consensus rating of Hold and a consensus target price of $18.34.
Columbia Pipeline Partners (NYSE:CPPL) traded down 0.12% during trading on Wednesday, hitting $16.18. The stock had a trading volume of 690,018 shares. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 18.12 and a beta of 0.82. Columbia Pipeline Partners has a 12 month low of $11.77 and a 12 month high of $19.49. The firm has a 50 day moving average of $14.27 and a 200-day moving average of $14.54.
Columbia Pipeline Partners (NYSE:CPPL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $313.20 million for the quarter, compared to analyst estimates of $352.67 million. Columbia Pipeline Partners had a net margin of 6.63% and a return on equity of 1.18%. Columbia Pipeline Partners’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Equities analysts predict that Columbia Pipeline Partners will post $0.85 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new stake in Columbia Pipeline Partners during the second quarter valued at approximately $125,000. Mariner Wealth Advisors LLC bought a new stake in Columbia Pipeline Partners during the second quarter valued at approximately $163,000. BB&T Corp bought a new stake in Columbia Pipeline Partners during the second quarter valued at approximately $188,000. BB&T Securities LLC bought a new stake in Columbia Pipeline Partners during the second quarter valued at approximately $214,000. Finally, Global X Management Co. LLC bought a new stake in Columbia Pipeline Partners during the second quarter valued at approximately $240,000. Institutional investors and hedge funds own 96.53% of the company’s stock.
About Columbia Pipeline Partners
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.
Receive News & Ratings for Columbia Pipeline Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Pipeline Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.