Short Interest in El Paso Pipeline Partners, L.P. Grows By 39.5% (EPB)
Shares of El Paso Pipeline Partners, L.P. (NYSE:EPB) saw a large growth in short interest in May. As of May 30th, there was short interest totalling 2,370,070 shares, a growth of 39.5% from the May 15th total of 1,698,760 shares, Stock Ratings Network.com reports. Based on an average daily volume of 590,352 shares, the short-interest ratio is presently 4.0 days. Currently, 1.8% of the shares of the stock are sold short.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of El Paso Pipeline Partners, L.P. in a research note on Tuesday, June 3rd. They now have a $32.00 price target on the stock, up previously from $31.00. Separately, analysts at Bank of America upgraded shares of El Paso Pipeline Partners, L.P. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 30th. They now have a $36.00 price target on the stock, up previously from $33.00. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of El Paso Pipeline Partners, L.P. from an “underperform” rating to a “neutral” rating in a research note on Monday, April 21st. They now have a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.00.
Shares of El Paso Pipeline Partners, L.P. (NYSE:EPB) opened at 36.59 on Thursday. El Paso Pipeline Partners, L.P. has a one year low of $28.87 and a one year high of $44.99. The stock’s 50-day moving average is $33.92 and its 200-day moving average is $32.76. The company has a market cap of $8.019 billion and a price-to-earnings ratio of 19.68.
El Paso Pipeline Partners, L.P. (NYSE:EPB) last announced its earnings results on Wednesday, April 16th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.04. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $397.01 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that El Paso Pipeline Partners, L.P. will post $1.72 earnings per share for the current fiscal year.
El Paso Pipeline Partners, L.P. owns and operates interstate natural gas transportation and terminaling facilities.
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