Analysts Issue Forecasts for EP Energy Corp.’s FY2016 Earnings (EPE)
EP Energy Corp. (NYSE:EPE) – Equities research analysts at Jefferies Group lowered their FY2016 earnings per share estimates for EP Energy Corp. in a research note issued to investors on Thursday. Jefferies Group analyst J. Wolff now forecasts that the firm will post earnings of $0.69 per share for the year, down from their previous estimate of $0.84. Jefferies Group currently has a “Sell” rating and a $3.00 target price on the stock. Jefferies Group also issued estimates for EP Energy Corp.’s Q4 2016 earnings at $0.20 EPS, Q1 2017 earnings at ($0.01) EPS, Q2 2017 earnings at $0.00 EPS and Q3 2017 earnings at $0.01 EPS.
EP Energy Corp. (NYSE:EPE) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.11. During the same period in the prior year, the firm earned $0.26 earnings per share.
A number of other equities research analysts have also recently commented on the company. Vetr raised EP Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $4.75 target price on the stock in a research note on Monday, October 31st. Zacks Investment Research cut EP Energy Corp. from a “hold” rating to a “sell” rating in a research note on Monday, October 17th. Goldman Sachs Group Inc. raised EP Energy Corp. from a “sell” rating to a “neutral” rating and increased their target price for the stock from $3.62 to $5.00 in a research note on Wednesday, September 21st. FBR & Co reissued a “marketperform” rating on shares of EP Energy Corp. in a research note on Monday, September 12th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of EP Energy Corp. in a report on Monday, August 15th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.56.
Shares of EP Energy Corp. (NYSE:EPE) opened at 4.27 on Friday. The company has a 50-day moving average price of $4.02 and a 200 day moving average price of $4.58. The stock’s market cap is $1.08 billion. EP Energy Corp. has a one year low of $1.60 and a one year high of $7.44.
Several hedge funds have recently added to or reduced their stakes in EPE. JPMorgan Chase & Co. boosted its stake in EP Energy Corp. by 3,071.5% in the first quarter. JPMorgan Chase & Co. now owns 1,040,875 shares of the company’s stock valued at $4,705,000 after buying an additional 1,008,055 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in EP Energy Corp. by 312.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 720,038 shares of the company’s stock valued at $3,255,000 after buying an additional 545,638 shares in the last quarter. First Quadrant L P CA acquired a new stake in EP Energy Corp. during the second quarter valued at about $843,000. CIBC World Markets Inc. acquired a new stake in EP Energy Corp. during the second quarter valued at about $195,000. Finally, Lucus Advisors LLC acquired a new stake in EP Energy Corp. during the second quarter valued at about $307,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.
About EP Energy Corp.
EP Energy Corporation (EP Energy) is an independent exploration and production company. The Company is engaged in the acquisition and development of unconventional onshore oil and natural gas properties in the United States. The Company operates through a diverse base of producing assets and are focused on creating value through the development of its drilling inventory located in four areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas), the Altamont Field in the Uinta Basin (Northeastern Utah) and the Haynesville Shale (North Louisiana).
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