Columbia Pipeline Partners LP (CPPL) Receives $18.50 Average Price Target from Brokerages
Columbia Pipeline Partners LP (NYSE:CPPL) has earned an average rating of “Hold” from the thirteen research firms that are covering the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.50.
A number of brokerages recently commented on CPPL. Zacks Investment Research lowered Columbia Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. DA Davidson reiterated a “neutral” rating on shares of Columbia Pipeline Partners in a research report on Monday, December 5th. Finally, Citigroup Inc. lowered Columbia Pipeline Partners from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $17.00 in a research report on Wednesday, November 2nd.
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Shares of Columbia Pipeline Partners (NYSE:CPPL) opened at 17.15 on Tuesday. The company has a market cap of $1.73 billion, a PE ratio of 24.40 and a beta of 0.86. The stock’s 50 day moving average is $17.10 and its 200 day moving average is $16.08. Columbia Pipeline Partners has a 52-week low of $12.35 and a 52-week high of $19.49.
The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Tuesday, February 7th were given a $0.1975 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.79 dividend on an annualized basis and a yield of 4.61%. Columbia Pipeline Partners’s dividend payout ratio is currently 112.86%.
A number of large investors have recently modified their holdings of the stock. Diversified Trust Co raised its stake in shares of Columbia Pipeline Partners by 1.7% in the third quarter. Diversified Trust Co now owns 11,581 shares of the company’s stock worth $187,000 after buying an additional 195 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Columbia Pipeline Partners during the fourth quarter worth approximately $245,000. Global X Management Co. LLC raised its stake in shares of Columbia Pipeline Partners by 7.4% in the third quarter. Global X Management Co. LLC now owns 17,199 shares of the company’s stock worth $278,000 after buying an additional 1,186 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Columbia Pipeline Partners by 36.8% in the third quarter. BB&T Securities LLC now owns 19,530 shares of the company’s stock worth $315,000 after buying an additional 5,250 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Columbia Pipeline Partners during the third quarter worth approximately $338,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.
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.
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