Are Columbia Pipeline Partners (NYSE:CPPL) Shares Headed North? Goldman Sachs Issues Upgrade.

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Columbia Pipeline Partners (NYSE:CPPL) Stock Upgrade

Goldman Sachs gave Columbia Pipeline Partners (NYSE:CPPL) shares a new “Buy” rating in a very recent research note sent to investors and clients on 18 December. The upgrade from the old “Neutral” rating is certainly an interesting one.

From a total of 10 analysts covering Columbia Pipeline Partners (NYSE:CPPL) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $26 while the lowest target price is $17. The mean of all analyst targets is $21.2 with a 41.19% above today’s ($16.29) stock price. Columbia Pipeline Partners was the topic of 7 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Howard Weil downgraded shares on December 15 to “Sector Perform” rating. Barclays Capital upgraded CPPL stock in a recent report from September 8 to “Overweight” rating.

The stock increased 2.32% or $0.37 during the last trading session, striking $16.29. Approximately 594,392 shares of stock traded hands or 125.26% up from the average. Columbia Pipeline Partners LP (NYSE:CPPL) has declined 41.10% since May 15, 2015 and is downtrending. It has underperformed by 37.29% the S&P500.

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 has a market cap of $1.60 billion. The Company’s business and activities 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 . It has 13.57 P/E ratio.

According to Zacks Investment Research, “Columbia Pipeline Partners LP is engaged in owning, operating and developing natural gas transmission pipelines, storage and related midstream assets. It serves local distribution companies, municipal utilities, direct industrial users, electric power generators, marketers, producers and LNG exporters. Columbia Pipeline Partners LP is based in Houston, United States.”

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