Zacks Investment Research cut shares of Columbia Pipeline Partners LP (NYSE:CPPL) from a hold rating to a strong sell rating in a report issued on Tuesday.

According to Zacks, “Columbia Pipeline Partners LP is engaged in owning, operating and developing natural gas transmission pipelines, storage and related midstream assets. It serves local distribution companies, municipal utilities, direct industrial users, electric power generators, marketers, producers and LNG exporters. Columbia Pipeline Partners LP is based in Houston, United States. “

A number of other research analysts also recently weighed in on CPPL. DA Davidson reissued a neutral rating and set a $15.75 target price (up from $15.00) on shares of Columbia Pipeline Partners in a research report on Wednesday, September 28th. JPMorgan Chase & Co. downgraded shares of Columbia Pipeline Partners from an overweight rating to a neutral rating and reduced their target price for the company from $23.00 to $17.00 in a research report on Tuesday, September 27th. TheStreet downgraded shares of Columbia Pipeline Partners from a hold rating to a sell rating in a research report on Wednesday, August 31st. Barclays PLC increased their target price on shares of Columbia Pipeline Partners from $15.00 to $17.00 and gave the company an equal weight rating in a research report on Thursday, July 28th. Finally, Goldman Sachs Group Inc. began coverage on shares of Columbia Pipeline Partners in a research report on Wednesday, July 20th. They set a neutral rating and a $15.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Columbia Pipeline Partners has an average rating of Hold and an average price target of $18.34.

Shares of Columbia Pipeline Partners (NYSE:CPPL) opened at 16.12 on Tuesday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 18.05 and a beta of 0.78. Columbia Pipeline Partners has a 52-week low of $11.77 and a 52-week high of $19.49. The stock has a 50 day moving average of $14.57 and a 200-day moving average of $14.57.

Columbia Pipeline Partners (NYSE:CPPL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Columbia Pipeline Partners had a net margin of 6.63% and a return on equity of 1.18%. The business earned $313.20 million during the quarter, compared to the consensus estimate of $352.67 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts expect that Columbia Pipeline Partners will post $0.87 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CPPL. Harvest Fund Advisors LLC boosted its position in shares of Columbia Pipeline Partners by 5.0% in the second quarter. Harvest Fund Advisors LLC now owns 2,678,196 shares of the company’s stock valued at $40,173,000 after buying an additional 128,222 shares during the period. Stifel Financial Corp purchased a new position in shares of Columbia Pipeline Partners during the second quarter valued at about $584,000. American Century Companies Inc. boosted its position in shares of Columbia Pipeline Partners by 6.0% in the second quarter. American Century Companies Inc. now owns 57,690 shares of the company’s stock valued at $865,000 after buying an additional 3,250 shares during the period. Eagle Global Advisors LLC boosted its position in shares of Columbia Pipeline Partners by 4.1% in the second quarter. Eagle Global Advisors LLC now owns 2,073,553 shares of the company’s stock valued at $31,103,000 after buying an additional 80,920 shares during the period. Finally, Guggenheim Capital LLC purchased a new position in shares of Columbia Pipeline Partners during the second quarter valued at about $294,000. 96.53% of the stock is 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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