Morgan Stanley downgraded shares of El Paso Pipeline Partners (NYSE:EPB) from an equal weight rating to an underweight rating in a research note released on Wednesday morning, American Banking News reports. They currently have $37.00 target price on the stock, down from their previous target price of $40.00.
Morgan Stanley has also updated their ratings on a number of other utilities stocks in the last week. The firm reiterated its underweight rating on shares of Renren. They have a $2.70 price target on that stock, down previously from $3.10. Also, Morgan Stanley downgraded shares of Volvo to an underweight rating.
Separately, analysts at Tudor Pickering downgraded shares of El Paso Pipeline Partners from an accumulate rating to a hold rating in a research note to investors on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $41.86.
El Paso Pipeline Partners (NYSE:EPB) traded down 2.70% during mid-day trading on Wednesday, hitting $35.5325. The stock had a trading volume of 1,567,256 shares. El Paso Pipeline Partners has a 52 week low of $36.01 and a 52 week high of $44.99. The stock has a 50-day moving average of $40.79 and a 200-day moving average of $41.81. The company has a market cap of $7.740 billion and a price-to-earnings ratio of 14.09.
El Paso Pipeline Partners (NYSE:EPB) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.47 by $0.07. The company had revenue of $369.00 million for the quarter, compared to the consensus estimate of $384.83 million. During the same quarter last year, the company posted $0.55 earnings per share. El Paso Pipeline Partners’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that El Paso Pipeline Partners will post $1.88 earnings per share for the current fiscal year.
El Paso Pipeline Partners, L.P. owns and operates natural gas transportation pipelines and storage assets.
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