BreitBurn Energy Partners L.P. (BBEP) Announces Monthly Dividend of $0.17
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) declared a monthly dividend on Thursday, July 31st, AnalystRatingsNetwork reports. Investors of record on Monday, August 11th will be given a dividend of 0.1675 per share on Thursday, August 14th. This represents a $2.01 dividend on an annualized basis and a yield of 9.50%. The ex-dividend date of this dividend is Thursday, August 7th.
BBEP has been the subject of a number of recent research reports. Analysts at Citigroup Inc. downgraded shares of BreitBurn Energy Partners L.P. from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $22.00 price target on the stock, up previously from $21.00. On the ratings front, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of BreitBurn Energy Partners L.P. in a research note on Friday, July 25th. They now have a $24.00 price target on the stock, up previously from $21.00. Finally, analysts at Credit Suisse initiated coverage on shares of BreitBurn Energy Partners L.P. in a research note on Friday, July 25th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $23.27.
Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) traded down 2.04% during mid-day trading on Thursday, hitting $21.16. The stock had a trading volume of 1,513,877 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 $22.15 and its 200-day moving average is $20.84. The company’s market cap is $2.543 billion.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.89) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $1.08. The company had revenue of $93.12 million for the quarter, compared to the consensus estimate of $221.55 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 57.1% on a year-over-year basis. On average, analysts predict that BreitBurn Energy Partners L.P. will post $0.56 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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