BreitBurn Energy Partners L.P. (BBEP) Releases Quarterly Earnings Results, Misses Estimates By $1.08 EPS
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) released its earnings data on Thursday. The company reported ($0.89) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.19 by $1.08, Stock Ratings Network.com reports. The company had revenue of $93.12 million for the quarter, compared to the consensus estimate of $221.55 million. During the same quarter last year, the company posted $0.75 earnings per share. BreitBurn Energy Partners L.P.’s revenue was down 57.1% compared to the same quarter last year.
A number of analysts have recently weighed in on BBEP shares. Analysts at Zacks upgraded shares of BreitBurn Energy Partners L.P. from a “neutral” rating to an “outperform” rating in a research note on Friday, July 18th. They now have a $24.40 price target on the stock. On a related note, analysts at Raymond James raised their price target on shares of BreitBurn Energy Partners L.P. from $21.00 to $24.00 in a research note on Monday, June 23rd. Finally, analysts at Global Hunter Securities initiated coverage on shares of BreitBurn Energy Partners L.P. in a research note on Friday, June 20th. They set an “accumulate” rating and a $23.00 price target on the stock. Three research 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 a consensus rating of “Buy” and an average target price of $22.29.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) traded down 2.54% during mid-day trading on Thursday, hitting $22.23. The stock had a trading volume of 1,558,412 shares. BreitBurn Energy Partners L.P. has a 52 week low of $17.10 and a 52 week high of $23.15. The stock’s 50-day moving average is $22.10 and its 200-day moving average is $20.7. The company’s market cap is $2.660 billion.
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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