Cowen and Company Downgrades Regency Energy Partners LP to Market Perform (RGP)
Regency Energy Partners LP (NYSE:RGP) was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Stock Ratings Network reports. They currently have a $51.00 price objective on the stock, down from their previous price objective of $58.00. Cowen and Company’s price target would suggest a potential upside of 84.32% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their EPS estimates on shares of Regency Energy Partners LP (NYSE:RGP) in a research note on Monday. They now have a $28.00 price target on the stock. Separately, analysts at Raymond James initiated coverage on shares of Regency Energy Partners LP (NYSE:RGP) in a research note to investors on Friday, July 26th. They set a “market perform” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Regency Energy Partners LP (NYSE:RGP) from $28.00 to $30.00 in a research note to investors on Monday, June 17th. They now have an “equal weight” rating on the stock.
Eight equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $30.57.
Regency Energy Partners LP (NYSE:RGP) traded down 0.18% during mid-day trading on Thursday, hitting $27.67. 199,434 shares of the company’s stock traded hands. Regency Energy Partners LP has a 52-week low of $20.58 and a 52-week high of $29.35. The stock has a 50-day moving average of $27.58 and a 200-day moving average of $26.29. The company’s market cap is $5.807 billion.
Regency Energy Partners LP (NYSE:RGP) last announced its earnings results on Wednesday, August 7th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.01. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $423.75 million. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Analysts expect that Regency Energy Partners LP will post $0.24 EPS for the current fiscal year.
Regency Energy Partners LP (NYSE:RGP) is engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs).
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