JP Energy Partners LP (NYSE:JPEP) Given Average Rating of “Hold” by Brokerages
Shares of JP Energy Partners LP (NYSE:JPEP) have received an average recommendation of “Hold” from the eight analysts that are currently covering the company. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.00.
Several research analysts have weighed in on the company. Bank of America Corp. raised JP Energy Partners from an “underperform” rating to a “neutral” rating in a research report on Friday, September 9th. Janney Montgomery Scott assumed coverage on JP Energy Partners in a research report on Monday, July 18th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research lowered JP Energy Partners from a “hold” rating to a “sell” rating in a research report on Monday, September 12th.
Hedge funds have recently added to or reduced their stakes in the company. ING Groep NV acquired a new stake in shares of JP Energy Partners during the first quarter valued at $323,000. UBS Group AG increased its stake 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 valued at $1,112,000 after buying an additional 24,414 shares during the last quarter. Price Michael F increased its stake 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 valued at $1,316,000 after buying an additional 72,000 shares during the last quarter. Finally, Advisory Research Inc. increased its stake 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 valued at $9,525,000 after buying an additional 224,460 shares during the last quarter. Institutional investors own 56.40% of the company’s stock.
Shares of JP Energy Partners (NYSE:JPEP) opened at 7.40 on Tuesday. The firm’s 50-day moving average price is $7.48 and its 200 day moving average price is $7.39. The stock’s market capitalization is $271.24 million. JP Energy Partners has a 12-month low of $1.89 and a 12-month high of $10.08.
JP Energy Partners (NYSE:JPEP) last posted 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 firm had revenue of $130.77 million for the quarter, compared to analyst estimates of $117.28 million. JP Energy Partners had a negative return on equity of 4.16% and a negative net margin of 5.55%. JP Energy Partners’s quarterly revenue was down 34.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. Analysts predict that JP Energy Partners will post ($0.26) EPS for the current fiscal year.
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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