JPEP has been the subject of several other reports. Zacks Investment Research downgraded JP Energy Partners from a hold rating to a sell rating in a research note on Monday, September 12th. Janney Montgomery Scott started coverage on JP Energy Partners in a research note on Monday, July 18th. They set a hold rating for the company. Finally, Bank of America Corp. raised JP Energy Partners from an underperform rating to a neutral rating in a research note on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. JP Energy Partners presently has an average rating of Hold and a consensus price target of $7.65.
Shares of JP Energy Partners (NYSE:JPEP) opened at 7.59 on Thursday. The firm’s market capitalization is $278.20 million. The stock has a 50 day moving average price of $7.54 and a 200-day moving average price of $7.50. JP Energy Partners has a 52 week low of $1.89 and a 52 week high of $10.08.
JP Energy Partners (NYSE:JPEP) last announced its earnings results on Monday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The firm 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 revenue was down 34.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. On average, analysts anticipate that JP Energy Partners will post ($0.26) EPS for the current year.
Several institutional investors have recently modified their holdings of JPEP. ING Groep NV acquired a new position in shares of JP Energy Partners during the first quarter worth about $323,000. Price Michael F increased its position in shares of JP Energy Partners by 41.6% in the first quarter. Price Michael F now owns 245,000 shares of the company’s stock worth $1,316,000 after buying an additional 72,000 shares during the period. UBS Group AG increased its position in shares of JP Energy Partners by 13.4% in the first quarter. UBS Group AG now owns 207,056 shares of the company’s stock worth $1,112,000 after buying an additional 24,414 shares during the period. Finally, Advisory Research Inc. increased its position in shares of JP Energy Partners by 24.8% in the second quarter. Advisory Research Inc. now owns 1,128,480 shares of the company’s stock worth $9,525,000 after buying an additional 224,460 shares during the period. 56.40% of the stock is owned by institutional investors and hedge funds.
About JP Energy Partners
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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