DA Davidson began coverage on shares of JP Energy Partners LP (NYSE:JPEP) in a research report report published on Thursday morning. The brokerage issued a buy rating and a $11.00 target price on the stock.
Several other research analysts have also commented on the company. Zacks Investment Research lowered JP Energy Partners from a hold rating to a sell rating in a research report on Monday, September 12th. Janney Montgomery Scott started coverage on JP Energy Partners in a research report on Monday, July 18th. They issued a hold rating on the stock. Finally, Bank of America Corp. raised JP Energy Partners from an underperform rating to a neutral rating in a research report on Friday, September 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. JP Energy Partners has a consensus rating of Hold and an average target price of $7.65.
Shares of JP Energy Partners (NYSE:JPEP) opened at 7.52 on Thursday. The firm’s market capitalization is $275.64 million. JP Energy Partners has a 12 month low of $1.89 and a 12 month high of $10.08. The company has a 50 day moving average price of $7.53 and a 200-day moving average price of $7.50.
JP Energy Partners (NYSE:JPEP) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. JP Energy Partners had a negative return on equity of 4.16% and a negative net margin of 5.55%. The company had revenue of $130.77 million for the quarter, compared to analyst estimates of $117.28 million. During the same period last year, the company posted ($0.14) earnings per share. The firm’s revenue was down 34.4% compared to the same quarter last year. Equities research analysts expect that JP Energy Partners will post ($0.26) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in JPEP. Advisory Research Inc. raised its stake in shares of JP Energy Partners by 24.8% in the second quarter. Advisory Research Inc. now owns 1,128,480 shares of the company’s stock valued at $9,525,000 after buying an additional 224,460 shares in the last quarter. Price Michael F raised its stake in shares of 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 in the last quarter. UBS Group AG raised its stake in shares of 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 in the last quarter. Finally, ING Groep NV purchased a new stake in shares of JP Energy Partners during the first quarter valued at $323,000. 56.40% of the stock is owned by hedge funds and other institutional investors.
JP Energy Partners Company Profile
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.
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