Goldman Sachs Downgrades El Paso Pipeline Partners, L.P. to Sell (EPB)
El Paso Pipeline Partners, L.P. (NYSE:EPB) was downgraded by equities researchers at Goldman Sachs from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $33.00 price target on the stock. Goldman Sachs’ target price suggests a potential downside of 9.93% from the stock’s previous close.
Shares of El Paso Pipeline Partners, L.P. (NYSE:EPB) traded down 2.37% during mid-day trading on Wednesday, hitting $35.77. The stock had a trading volume of 890,873 shares. El Paso Pipeline Partners, L.P. has a one year low of $28.87 and a one year high of $44.85. The stock has a 50-day moving average of $34.26 and a 200-day moving average of $32.8. The company has a market cap of $7.839 billion and a P/E ratio of 20.12. El Paso Pipeline Partners, L.P. also was the recipient of a significant decrease in short interest in June. As of June 13th, there was short interest totalling 1,522,025 shares, a decrease of 35.8% from the May 30th total of 2,370,070 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 637,921 shares, the short-interest ratio is currently 2.4 days.
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. Analysts expect that El Paso Pipeline Partners, L.P. will post $1.71 EPS for the current fiscal year.
EPB has been the subject of a number of other recent research reports. Analysts at RBC Capital initiated coverage on shares of El Paso Pipeline Partners, L.P. in a research note on Thursday, June 26th. They set a “sector perform” rating and a $35.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $34.78.
El Paso Pipeline Partners, L.P. owns and operates interstate natural gas transportation and terminaling facilities.
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