Barclays Maintains Columbia Pipeline Partners LP to Equalweight with Price Target $17.00

Brokerage firm Barclays Maintains its rating on Columbia Pipeline Partners LP(NYSE:CPPL). In a research note issued to the investors, the brokerage major Raises the price-target to $17.00 per share. The shares have been rated Equalweight. The rating by Barclays was issued on Jul 28, 2016.

In a different note, On Jul 20, 2016, Goldman Sachs said it Reinstates its rating on Columbia Pipeline Partners LP. The shares have been rated ‘Neutral’ by the firm. On May 27, 2016, JP Morgan said it Maintains its rating on Columbia Pipeline Partners LP. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Overweight’ by the firm.

Columbia Pipeline Partners LP (CPPL) shares turned negative on Thursdays trading session with the shares closing down -0.38 points or -2.63% at a volume of 2,28,464. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.74. The peak price level was also seen at $14.74 while the days lowest was $14.04. Finally the shares closed at $14.07. The 52-week high of the shares is $22.94 while the 52-week low is $11.24. According to the latest information available, the market cap of the company is $1,416 M.

Columbia Pipeline Partners LP(CPPL) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $363.50M. Analysts had an estimated revenue of $361.31M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On Feb 16, 2015, Thomas W Hofmann (director) purchased 5,000 shares at $23.00 per share price.Also, 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.

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