GSA Capital Partners LLP lowered its stake in JP Energy Partners LP (NYSE:JPEP) by 86.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,648 shares of the company’s stock after selling 156,810 shares during the period. GSA Capital Partners LLP owned about 0.07% of JP Energy Partners worth $208,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Price Michael F increased its stake in JP Energy Partners by 41.6% in the first quarter. Price Michael F now owns 245,000 shares of the company’s stock valued at $1,316,000 after buying an additional 72,000 shares during the period. ING Groep NV purchased a new stake in JP Energy Partners during the first quarter valued at about $323,000. Finally, UBS Group AG increased its stake in JP Energy Partners by 13.4% in the first quarter. UBS Group AG now owns 207,056 shares of the company’s stock valued at $1,112,000 after buying an additional 24,414 shares during the period. 56.40% of the stock is currently owned by hedge funds and other institutional investors.
JP Energy Partners LP (NYSE:JPEP) traded up 0.14% on Friday, hitting $7.40. 164,485 shares of the stock traded hands. The stock has a 50-day moving average of $7.48 and a 200-day moving average of $7.39. JP Energy Partners LP has a 12-month low of $1.89 and a 12-month high of $10.08. The firm’s market cap is $271.24 million.
JP Energy Partners (NYSE:JPEP) last posted its earnings results on Monday, August 8th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The company earned $130.77 million during the quarter, compared to the consensus estimate of $117.28 million. JP Energy Partners had a negative net margin of 5.55% and a negative return on equity of 4.16%. The company’s revenue for the quarter was down 34.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) earnings per share. Analysts forecast that JP Energy Partners LP will post ($0.26) earnings per share for the current year.
Several research firms have recently weighed in on JPEP. Janney Montgomery Scott began coverage on shares of JP Energy Partners in a research report on Monday, July 18th. They issued a “hold” rating for the company. Bank of America Corp. raised shares of JP Energy Partners from an “underperform” rating to a “neutral” rating in a research report on Friday, September 9th. Finally, Zacks Investment Research downgraded shares of JP Energy Partners from a “hold” rating to a “sell” rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. JP Energy Partners currently has an average rating of “Hold” and a consensus target price of $6.81.
About JP Energy Partners
JP Energy Partners LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure solutions for the supply of crude oil, refined products and natural gas liquids (NGLs) in the United States. The Company’s segments include crude oil pipelines and storage, refined products terminals and storage, and NGL distribution and sales.
Want to see what other hedge funds are holding JPEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JP Energy Partners LP (NYSE:JPEP).
Receive News & Ratings for JP Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JP Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.