Credit Suisse Reiterates Outperform Rating for Regency Energy Partners (RGP)
Regency Energy Partners (NYSE:RGP)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse in a report released on Friday. They currently have a $33.00 target price on the stock, up from their previous target price of $32.00. Credit Suisse’s price objective suggests a potential upside of 9.20% from the company’s current price.
A number of other analysts have also recently weighed in on RGP. Analysts at Zacks upgraded shares of Regency Energy Partners from an “underperform” rating to a “neutral” rating in a research note on Thursday. They now have a $30.40 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Regency Energy Partners from $31.00 to $37.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Barclays initiated coverage on shares of Regency Energy Partners in a research note on Wednesday, July 9th. They set an “equal weight” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $34.27.
Shares of Regency Energy Partners (NYSE:RGP) traded down 0.03% during mid-day trading on Friday, hitting $30.21. The stock had a trading volume of 447,864 shares. Regency Energy Partners has a 52-week low of $23.86 and a 52-week high of $32.35. The stock has a 50-day moving average of $31.3 and a 200-day moving average of $28.38. The company has a market cap of $10.771 billion and a P/E ratio of 143.90.
Regency Energy Partners (NYSE:RGP) last announced its earnings results on Wednesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.20. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 84.4% on a year-over-year basis. On average, analysts predict that Regency Energy Partners will post $0.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Tuesday, August 5th. This is a boost from Regency Energy Partners’s previous quarterly dividend of $0.48.
Regency Energy Partners LP (NYSE:RGP) is engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs).
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