JPMorgan Chase & Co. lowered shares of Columbia Pipeline Partners LP (NYSE:CPPL) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday. They currently have $17.00 target price on the stock, down from their previous target price of $23.00.
CPPL has been the topic of a number of other reports. Barclays PLC increased their price target on Columbia Pipeline Partners from $15.00 to $17.00 and gave the stock an equal weight rating in a research report on Thursday, July 28th. Zacks Investment Research lowered Columbia Pipeline Partners from a hold rating to a sell rating in a research report on Tuesday, August 2nd. TheStreet upgraded Columbia Pipeline Partners from a sell rating to a hold rating in a research report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. initiated coverage on Columbia Pipeline Partners in a research report on Wednesday, July 20th. They set a neutral rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Columbia Pipeline Partners presently has a consensus rating of Hold and a consensus target price of $18.34.
Shares of Columbia Pipeline Partners (NYSE:CPPL) remained flat at $16.10 during mid-day trading on Tuesday. 669,283 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 18.03 and a beta of 0.82. The company’s 50 day moving average is $14.20 and its 200 day moving average is $14.52. Columbia Pipeline Partners has a 12-month low of $11.40 and a 12-month high of $19.49.
Columbia Pipeline Partners (NYSE:CPPL) last issued its earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Columbia Pipeline Partners had a return on equity of 1.18% and a net margin of 6.63%. The business earned $313.20 million during the quarter, compared to analysts’ expectations of $352.67 million. During the same period in the prior year, the firm posted $0.17 EPS. Columbia Pipeline Partners’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts expect that Columbia Pipeline Partners will post $0.86 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in Columbia Pipeline Partners by 1.3% in the second quarter. Van ECK Associates Corp now owns 80,314 shares of the company’s stock worth $1,205,000 after buying an additional 1,019 shares during the period. Fifth Third Bancorp increased its position in Columbia Pipeline Partners by 7.5% in the second quarter. Fifth Third Bancorp now owns 23,108 shares of the company’s stock worth $347,000 after buying an additional 1,621 shares during the period. Yorkville Capital Management LLC increased its position in Columbia Pipeline Partners by 1.0% in the first quarter. Yorkville Capital Management LLC now owns 162,670 shares of the company’s stock worth $2,375,000 after buying an additional 1,660 shares during the period. State Street Corp increased its position in Columbia Pipeline Partners by 4.1% in the first quarter. State Street Corp now owns 45,617 shares of the company’s stock worth $666,000 after buying an additional 1,784 shares during the period. Finally, First Republic Investment Management Inc. increased its position in Columbia Pipeline Partners by 6.1% in the first quarter. First Republic Investment Management Inc. now owns 43,183 shares of the company’s stock worth $630,000 after buying an additional 2,476 shares during the period. 96.53% of the stock is currently owned by institutional investors.
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.
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.