Global Hunter Securities Initiates Coverage on BreitBurn Energy Partners L.P. (BBEP)
Analysts at Global Hunter Securities initiated coverage on shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set an “accumulate” rating and a $23.00 price target on the stock. Global Hunter Securities’ target price points to a potential upside of 4.45% from the company’s current price.
BBEP has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of BreitBurn Energy Partners L.P. from $21.00 to $22.00 in a research note on Tuesday, May 13th. Separately, analysts at Oppenheimer downgraded shares of BreitBurn Energy Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Friday, May 9th. Finally, analysts at RBC Capital raised their price target on shares of BreitBurn Energy Partners L.P. from $21.00 to $22.00 in a research note on Friday, May 9th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BreitBurn Energy Partners L.P. has an average rating of “Buy” and a consensus price target of $21.81.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) opened at 22.09 on Friday. BreitBurn Energy Partners L.P. has a 52 week low of $14.01 and a 52 week high of $22.22. The stock’s 50-day moving average is $21.02 and its 200-day moving average is $20.34. The company’s market cap is $2.643 billion.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.28. The company had revenue of $184.90 million for the quarter, compared to the consensus estimate of $217.67 million. During the same quarter in the prior year, the company posted ($0.38) earnings per share. The company’s quarterly revenue was up 90.8% on a year-over-year basis. On average, analysts predict that BreitBurn Energy Partners L.P. will post $0.67 earnings per share for the current fiscal year.
BreitBurn Energy Partners L.P. is an independent oil and gas partnership focused on the acquisition, exploitation and development of oils and gas properties in the United States.
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