Columbia Pipeline Partners’ (CPPL) Neutral Rating Reiterated at DA Davidson
DA Davidson reiterated their neutral rating on shares of Columbia Pipeline Partners LP (NYSE:CPPL) in a research report report published on Wednesday morning. They currently have a $15.75 target price on the stock, up from their previous target price of $15.00.
Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Columbia Pipeline Partners from an overweight rating to a neutral rating and dropped their target price for the company from $23.00 to $17.00 in a research report on Tuesday, September 27th. TheStreet cut Columbia Pipeline Partners from a hold rating to a sell rating in a research note on Wednesday, August 31st. Zacks Investment Research cut Columbia Pipeline Partners from a hold rating to a sell rating in a research note on Tuesday, August 2nd. Barclays PLC increased their price target on Columbia Pipeline Partners from $15.00 to $17.00 and gave the company an equal weight rating in a research note on Thursday, July 28th. Finally, Goldman Sachs Group Inc. assumed coverage on Columbia Pipeline Partners in a research note on Wednesday, July 20th. They issued a neutral rating and a $15.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Columbia Pipeline Partners currently has an average rating of Hold and a consensus target price of $18.34.
Shares of Columbia Pipeline Partners (NYSE:CPPL) opened at 16.13 on Wednesday. The firm has a 50-day moving average price of $14.50 and a 200 day moving average price of $14.55. The company has a market cap of $1.62 billion, a PE ratio of 18.06 and a beta of 0.77. Columbia Pipeline Partners has a 1-year low of $11.77 and a 1-year high of $19.49.
Columbia Pipeline Partners (NYSE:CPPL) last posted its earnings results on Tuesday, August 2nd. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm earned $313.20 million during the quarter, compared to the consensus estimate of $352.67 million. Columbia Pipeline Partners had a return on equity of 1.18% and a net margin of 6.63%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Columbia Pipeline Partners will post $0.87 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in CPPL. Cedar Wealth Management LLC purchased a new stake in shares of Columbia Pipeline Partners during the second quarter worth approximately $125,000. Mariner Wealth Advisors LLC purchased a new stake in shares of Columbia Pipeline Partners during the second quarter worth approximately $163,000. BB&T Corp purchased a new stake in shares of Columbia Pipeline Partners during the second quarter worth approximately $188,000. BB&T Securities LLC purchased a new stake in shares of Columbia Pipeline Partners during the second quarter worth approximately $214,000. Finally, Global X Management Co. LLC purchased a new stake in shares of Columbia Pipeline Partners during the second quarter worth approximately $240,000. 96.53% of the stock is owned by institutional investors and hedge funds.
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.
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