Columbia Pipeline Partners LP (CPPL) is Downgraded by UBS to Neutral, Lowers Price Target to $ 15.75

Columbia Pipeline Partners LP (CPPL) was Downgraded by UBS to ” Neutral” while Lowering the Price Target of the company shares to $ 15.75 from a previous price target of $26 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Oct 4, 2016.

Many Wall Street Analysts have commented on Columbia Pipeline Partners LP. Columbia Pipeline Partners LP was Downgraded by JP Morgan to ” Neutral” on Sep 27, 2016. Columbia Pipeline Partners LP was Resumed by Goldman to “Neutral” on Jul 20, 2016.

On the company’s financial health, Columbia Pipeline Partners LP reported $0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.19. The company had revenue of $313.20 million for the quarter, compared to analysts expectations of $358.46 million. The company’s revenue was down -.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Columbia Pipeline Partners LP (CPPL) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $16.15 and reached the intraday high at $16.215. The bulls started the profit booking and pushed the shares to intraday low of $16.12. The trading session was marked by a volume range of 8,01,558 shares exchanging hands. The 52-week high of the shares is $19.49 and the 52-week low is $11.4. The market cap of the company stands at $1,625 M and there are 10,06,54,864 shares in public circulation.

In a different news, on Feb 16, 2015, Thomas W Hofmann (director) purchased 5,000 shares at $23.00 per share price. According to the SEC, on Feb 13, 2015, Glen L Kettering (director officer ) purchased 1,300 shares at $23.00 per share price. On Feb 13, 2015, Stephen P Smith (director officer ) purchased 37,500 shares at $23.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Columbia Pipeline Partners LP is a limited partnership which owns operates and develops a portfolio of natural gas pipelines storage and related midstream assets. The Company’s business and operations are conducted through CPG OpCo LP and its subsidiaries which owns and operates substantially all of the natural gas transmission storage and midstream assets of Columbia Energy Group (CEG). Columbia Energy Group operates approximately 15000 miles of strategically located interstate pipelines extending from New York to the Gulf of Mexico.

Columbia Pipeline Partners LP

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