Eagle Rock Energy Partners, L.P. Sees Significant Drop in Short Interest (EROC)
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 720,094 shares, a decline of 21.7% from the March 31st total of 919,154 shares, AnalystRatingsNetwork reports. Based on an average daily volume of 479,318 shares, the short-interest ratio is currently 1.5 days. Approximately 0.7% of the company’s stock are short sold.
A number of research firms have recently commented on EROC. Analysts at UBS AG reiterated a “buy” rating on shares of Eagle Rock Energy Partners, L.P. in a research note on Thursday, April 24th. They now have a $6.50 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Eagle Rock Energy Partners, L.P. from $7.00 to $5.00 in a research note on Thursday, April 24th. They now have a “sector perform” rating on the stock. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of Eagle Rock Energy Partners, L.P. in a research note on Thursday, April 24th. They now have a $5.50 price target on the stock, down previously from $6.50. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.15.
Shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) opened at 4.28 on Thursday. Eagle Rock Energy Partners, L.P. has a 52-week low of $3.97 and a 52-week high of $9.00. The stock’s 50-day moving average is $4.87 and its 200-day moving average is $5.46. The company’s market cap is $670.4 million.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.04) by $0.07. Analysts expect that Eagle Rock Energy Partners, L.P. will post $0.06 EPS for the current fiscal year.
Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) is a limited partnership engaged in the business of gathering, compressing, treating, processing and transporting natural gas; fractionating and transporting natural gas liquids (NGLs); crude oil logistics and marketing; natural gas marketing and trading, known as Midstream Business, and developing and producing interests in oil and natural gas properties, known as Upstream Business.
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