BreitBurn Energy Partners L.P. Short Interest Up 82.3% in July (BBEP)
Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) were the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 3,904,730 shares, a growth of 82.3% from the July 15th total of 2,141,590 shares, AR Network reports. Based on an average trading volume of 1,147,908 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.3% of the shares of the stock are short sold.
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. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.27.
Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) opened at 21.89 on Tuesday. BreitBurn Energy Partners L.P. has a 52 week low of $17.10 and a 52 week high of $23.15. The stock has a 50-day moving average of $22.03 and a 200-day moving average of $20.92. The company’s market cap is $2.631 billion.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) last released its 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. Analysts expect that BreitBurn Energy Partners L.P. will post $-0.18 EPS 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 9.18%. The ex-dividend date of this dividend is Thursday, August 7th.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.