BreitBurn Energy Partners L.P. Given Consensus Rating of “Buy” by Brokerages (NASDAQ:BBEP)
Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) have earned a consensus recommendation of “Buy” from the fourteen brokerages that are covering the stock, AnalystRatings.Net reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $23.27.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) opened at 21.01 on Wednesday. BreitBurn Energy Partners L.P. has a 1-year low of $17.10 and a 1-year high of $23.15. The stock’s 50-day moving average is $22.11 and its 200-day moving average is $20.85. The company’s market cap is $2.525 billion.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) last announced its earnings results on Thursday, July 24th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 57.1% on a year-over-year basis. On average, analysts predict that BreitBurn Energy Partners L.P. will post $0.31 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Thursday, August 14th. Investors of record on Monday, August 11th will be given a dividend of $0.1675 per share. This represents a $2.01 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend is Thursday, August 7th.
A number of analysts have recently weighed in on BBEP shares. 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, July 29th. They now have a $22.00 price target on the stock, up previously from $21.00. Separately, 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.
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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