Breitburn Energy Now Covered by JPMorgan Chase & Co. (BBEP)
JPMorgan Chase & Co. assumed coverage on shares of Breitburn Energy (NASDAQ:BBEP) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
Breitburn Energy (NASDAQ:BBEP) opened at 19.99 on Tuesday. 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 $19.62 and a 200-day moving average of $18.53. The company has a market cap of $1.993 billion and a price-to-earnings ratio of 407.40.
Breitburn Energy (NASDAQ:BBEP) last released its earnings data on Wednesday, November 6th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters 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. On average, analysts predict that Breitburn Energy will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Thursday, January 16th. Stockholders 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 9.86%. The ex-dividend date is Thursday, January 9th. This is a boost from Breitburn Energy’s previous monthly dividend of $0.16.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Breitburn Energy from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, January 8th. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Breitburn Energy currently has a consensus rating of “Buy” and an average price target of $21.93.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.