Breitburn Energy Upgraded by TheStreet to Buy (BBEP)
Breitburn Energy (NASDAQ:BBEP) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Wednesday, American Banking News reports.
The analysts wrote, “BreitBurn Energy Partners (BBEP) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Breitburn Energy from $20.00 to $21.00 in a research note to investors on Monday, December 16th. They now have a “neutral” rating on the stock. Separately, analysts at Robert W. Baird upgraded shares of Breitburn Energy from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, November 21st. Finally, analysts at Robert W. Baird reiterated a “hold” rating on shares of Breitburn Energy in a research note to investors on Sunday, November 10th. They now have a $21.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.94.
Breitburn Energy (NASDAQ:BBEP) traded down 1.32% on Wednesday, hitting $20.2699. 252,588 shares of the company’s stock traded hands. Breitburn Energy has a 52-week low of $14.01 and a 52-week high of $21.75. The stock has a 50-day moving average of $19.45 and a 200-day moving average of $18.47. The company has a market cap of $2.020 billion and a price-to-earnings ratio of 410.80.
Breitburn Energy (NASDAQ:BBEP) last released its earnings data on Wednesday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.54. The company had revenue of $143.38 million for the quarter, compared to the consensus estimate of $195.39 million. Analysts expect that Breitburn Energy will post $0.46 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Thursday, January 16th. Shareholders of record on Monday, January 13th will be paid a dividend of 0.1642 per share. This represents a $1.97 annualized dividend and a dividend yield of 9.59%. The ex-dividend date is Thursday, January 9th. This is a positive change from Breitburn Energy’s previous monthly dividend of $0.16.
BreitBurn Energy Partners L.P. is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States.
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