Columbia Pipeline Partners’ (CPPL) Neutral Rating Reaffirmed at DA Davidson
DA Davidson reaffirmed their neutral rating on shares of Columbia Pipeline Partners LP (NYSE:CPPL) in a research report report published on Wednesday morning. The brokerage currently has a $15.75 price objective on the stock, up from their previous price objective of $15.00.
Several other equities analysts have also recently weighed in on CPPL. Goldman Sachs Group Inc. started coverage on Columbia Pipeline Partners in a research report on Wednesday, July 20th. They issued a neutral rating and a $15.00 price target for the company. JPMorgan Chase & Co. lowered Columbia Pipeline Partners from an overweight rating to a neutral rating and dropped their price objective for the company from $23.00 to $17.00 in a research note on Tuesday. Zacks Investment Research lowered Columbia Pipeline Partners from a hold rating to a sell rating in a research note on Tuesday, August 2nd. TheStreet raised Columbia Pipeline Partners from a sell rating to a hold rating in a research note on Thursday, June 30th. Finally, Barclays PLC lifted their price objective 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $18.34.
Shares of Columbia Pipeline Partners (NYSE:CPPL) traded down 0.12% during trading on Wednesday, reaching $16.18. The company’s stock had a trading volume of 690,018 shares. The stock’s 50-day moving average is $14.27 and its 200-day moving average is $14.54. The stock has a market cap of $1.63 billion, a P/E ratio of 18.12 and a beta of 0.82. Columbia Pipeline Partners has a 12-month low of $11.77 and a 12-month high of $19.49.
Columbia Pipeline Partners (NYSE:CPPL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company earned $313.20 million during the quarter, compared to analysts’ expectations of $352.67 million. Columbia Pipeline Partners had a return on equity of 1.18% and a net margin of 6.63%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities research analysts anticipate that Columbia Pipeline Partners will post $0.85 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CPPL. Energy Income Partners LLC boosted its position in Columbia Pipeline Partners by 38.9% in the first quarter. Energy Income Partners LLC now owns 4,580,266 shares of the company’s stock valued at $66,872,000 after buying an additional 1,282,021 shares during the last quarter. Center Coast Capital Advisors LP boosted its position in Columbia Pipeline Partners by 86.7% in the second quarter. Center Coast Capital Advisors LP now owns 2,152,869 shares of the company’s stock valued at $32,293,000 after buying an additional 999,574 shares during the last quarter. ING Groep NV purchased a new position in Columbia Pipeline Partners during the second quarter valued at $7,195,000. Whetstone Capital Advisors LLC purchased a new position in Columbia Pipeline Partners during the second quarter valued at $5,532,000. Finally, Credit Suisse AG boosted its position in Columbia Pipeline Partners by 155.0% in the second quarter. Credit Suisse AG now owns 550,315 shares of the company’s stock valued at $8,255,000 after buying an additional 334,499 shares during the last quarter. 96.53% of the stock is currently owned by institutional investors and hedge funds.
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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