ING Groep NV cut its stake in shares of JP Energy Partners LP (NYSE:JPEP) by 50.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,758 shares of the company’s stock after selling 30,758 shares during the period. ING Groep NV’s holdings in JP Energy Partners were worth $250,000 as of its most recent SEC filing.
Separately, Price Michael F boosted its position in JP Energy Partners by 41.6% in the first quarter. Price Michael F now owns 245,000 shares of the company’s stock valued at $1,316,000 after buying an additional 72,000 shares in the last quarter. 56.40% of the stock is owned by hedge funds and other institutional investors.
JP Energy Partners LP (NYSE:JPEP) traded up 0.40% during trading on Friday, hitting $7.58. The stock had a trading volume of 19,448 shares. JP Energy Partners LP has a one year low of $1.89 and a one year high of $10.08. The firm’s market capitalization is $277.84 million. The stock has a 50 day moving average of $7.56 and a 200 day moving average of $7.51.
JP Energy Partners (NYSE:JPEP) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company earned $130.77 million during the quarter, compared to analysts’ expectations of $117.28 million. JP Energy Partners had a negative return on equity of 4.16% and a negative net margin of 5.55%. The business’s quarterly revenue was down 34.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Equities research analysts expect that JP Energy Partners LP will post ($0.26) earnings per share for the current fiscal year.
Several equities analysts recently issued reports on JPEP shares. Zacks Investment Research cut JP Energy Partners from a “hold” rating to a “sell” rating in a report on Monday, September 12th. DA Davidson started coverage on JP Energy Partners in a report on Thursday, October 6th. They issued a “buy” rating and a $11.00 price target on the stock. Janney Montgomery Scott started coverage on JP Energy Partners in a report on Monday, July 18th. They issued a “hold” rating on the stock. Finally, Bank of America Corp. upgraded JP Energy Partners from an “underperform” rating to a “neutral” rating in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.65.
JP Energy Partners Company Profile
JP Energy Partners LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure solutions for the supply of crude oil, refined products and natural gas liquids (NGLs) in the United States. The Company’s segments include crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales.
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