JP Morgan Downgrades Columbia Pipeline Partners LP to Neutral

Brokerage firm JP Morgan Downgrades its rating on Columbia Pipeline Partners LP(NYSE:CPPL). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Sep 27, 2016.

In a different note, On Jul 28, 2016, Barclays said it Maintains its rating on Columbia Pipeline Partners LP. In the research note, the firm Raises the price-target to $15.00 per share. The shares have been rated ‘Equalweight’ by the firm. 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.

Columbia Pipeline Partners LP (CPPL) remained unchanged at the close of Friday session. Even as the volume increased to 8,01,558 ,the shares failed to make any impression and ended at 0 points or 0.00% at $16.14. The trading session commenced at $16.15 and the stock hit a high of $16.215 and touched $16.12 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $19.49 and the 52-week low is $11.4. The company has a market cap of $1,625 M and has approximately 10,06,54,864 outstanding shares.

Columbia Pipeline Partners LP(CPPL) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $313.60M. Analysts had an estimated revenue of $346.88M. Earnings per share were $0.18. Analysts had estimated an EPS of $0.20.

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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