BreitBurn Energy Partners L.P. (BBEP) Announces Monthly Dividend of $0.17
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) declared a monthly dividend on Wednesday, August 27th, American Banking and Market News reports. Investors of record on Monday, September 8th will be given a dividend of 0.1675 per share on Thursday, September 11th. This represents a $2.01 dividend on an annualized basis and a yield of 8.93%. The ex-dividend date of this dividend is Thursday, September 4th.
A number of research firms have recently commented on BBEP. Analysts at Zacks downgraded shares of BreitBurn Energy Partners L.P. from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $24.40 price target on the stock. On a related note, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.27.
Shares of BreitBurn Energy Partners L.P. (NASDAQ:BBEP) traded up 0.72% during mid-day trading on Wednesday, hitting $22.50. 625,552 shares of the company’s stock traded hands. 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 $22.00 and a 200-day moving average of $21.04. The company’s market cap is $2.711 billion.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.89) earnings per share for the quarter, missing the analysts’ 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 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. On average, analysts predict that BreitBurn Energy Partners L.P. will post $-0.18 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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