DA Davidson Initiates Coverage on JP Energy Partners LP (JPEP)
Equities researchers at DA Davidson initiated coverage on shares of JP Energy Partners LP (NYSE:JPEP) in a research note issued on Thursday. The firm set a “buy” rating and a $11.00 price target on the stock. DA Davidson’s price target would suggest a potential upside of 46.86% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of JP Energy Partners from a “hold” rating to a “sell” rating in a research report on Monday, September 12th. Bank of America Corp. upgraded shares of JP Energy Partners from an “underperform” rating to a “neutral” rating in a research report on Friday, September 9th. Finally, Janney Montgomery Scott began coverage on shares of JP Energy Partners in a research report on Monday, July 18th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.65.
JP Energy Partners (NYSE:JPEP) opened at 7.49 on Thursday. The firm has a 50-day moving average price of $7.53 and a 200 day moving average price of $7.47. The stock’s market capitalization is $274.54 million. JP Energy Partners has a 52-week low of $1.89 and a 52-week 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company had revenue of $130.77 million for the quarter, compared to analysts’ expectations of $117.28 million. JP Energy Partners had a negative return on equity of 4.16% and a negative net margin of 5.55%. The firm’s revenue was down 34.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts predict that JP Energy Partners will post ($0.26) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Advisory Research Inc. boosted its position in 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 in the last quarter. Price Michael F boosted its position in 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 in the last quarter. UBS Group AG boosted its position in 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 in the last quarter. Finally, ING Groep NV bought a new position in JP Energy Partners during the first quarter valued at approximately $323,000. Institutional investors and hedge funds own 56.40% of the company’s stock.
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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