Columbia Pipeline Partners (NYSE:CPPL) Receives a Downgrade
In a note issued to clients and investors on Tuesday morning, equity analysts at Scotia Howard Weil’s equity research division lowered the rating for Columbia Pipeline Partners (NYSE:CPPL) shares from the previous Sector Outperform to a Sector Perform.
From a total of 10 analysts covering Columbia Pipeline Partners (NYSE:CPPL) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is $34 while the lowest target price is $17. The mean of all analyst targets is $22.6 with a 52.02% above today’s ($15.13) stock price. Columbia Pipeline Partners was the topic of 6 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Jefferies upgraded shares on October 8 to “Buy” rating. Wells Fargo initiated CPPL stock in a recent report from August 28 with “Market Perform” rating.
The stock decreased 4.66% or $0.74 on December 14, striking $15.13. Approximately shares of stock traded hands. Columbia Pipeline Partners LP (NYSE:CPPL) has declined 43.42% since May 12, 2015 and is downtrending. It has underperformed by 39.74% 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 12.6 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.”