Published On: Tue, Sep 13th, 2016

Zacks Investment Research Downgrades JP Energy Partners LP (JPEP) to Sell

JP Energy Partners LP (NYSE:JPEP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “JP Energy Partners LP owns, operates, develops and acquires a diversified portfolio of midstream energy assets. The Company’s operations consist of four business segments: crude oil pipelines and storage; crude oil supply and logistics; refined products terminals and storage; NGL distribution and sales. It serves crude oil refineries, oil product distributors, and end consumers throughout the United States and internationally. JP Energy Partners LP is headquartered in Irving, Texas. “
JPEP has been the topic of several other reports. Bank of America Corp. raised JP Energy Partners from an “underperform” rating to a “neutral” rating in a report on Friday. Janney Montgomery Scott began coverage on JP Energy Partners in a research note on Monday, July 18th. They issued a “hold” rating on the stock. Simmons boosted their price objective on JP Energy Partners from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 16th. Finally, Stephens downgraded JP Energy Partners from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $7.25.

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JP Energy Partners (NYSE:JPEP) traded down 1.51% during trading on Monday, reaching $7.81. 91,030 shares of the company’s stock were exchanged. The company’s market capitalization is $286.27 million. JP Energy Partners has a 52-week low of $1.89 and a 52-week high of $10.08. The stock’s 50-day moving average price is $8.08 and its 200-day moving average price is $7.18.
JP Energy Partners (NYSE:JPEP) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $130.77 million for the quarter, compared to analyst estimates of $117.28 million. JP Energy Partners had a negative return on equity of 4.16% and a negative net margin of 5.55%. JP Energy Partners’s quarterly revenue was down 34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. Equities analysts expect that JP Energy Partners will post ($0.25) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of JPEP. Price Michael F increased its position in JP Energy Partners by 41.6% in the first quarter. Price Michael F now owns 245,000 shares of the company’s stock worth $1,316,000 after buying an additional 72,000 shares during the period. UBS Group AG increased its position in JP Energy Partners by 13.4% in the first quarter. UBS Group AG now owns 207,056 shares of the company’s stock worth $1,112,000 after buying an additional 24,414 shares during the period. Finally, ING Groep NV purchased a new position in JP Energy Partners during the first quarter worth $323,000. 56.40% of the stock is currently owned by institutional investors and hedge funds.
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.
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