Equities research analysts at Citigroup (NYSE: C) boosted their price target on shares of El Paso Pipeline Partners (NYSE: EPB) to $43.00 in a research note to investors on Friday.
Separately, analysts at Wunderlich reiterated a "buy" rating on shares of El Paso Pipeline Partners in a research note to investors on Thursday. They now have a $42.00 price target on the stock. Also, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of El Paso Pipeline Partners from $40.00 to $42.00 in a research note to investors on Monday, May 9th. They now have an "overweight" rating on the stock.
Shares of El Paso Pipeline Partners traded up 0.54% during mid-day trading on Monday, hitting $34.937. El Paso Pipeline Partners has a 52 week low of $27.09 and a 52 week high of $38.00. The stock's 50-day moving average is $34.21 and its 200-day moving average is $35.06. The company has a market cap of $6.672 billion and a price-to-earnings ratio of 14.86.
El Paso Pipeline Partners last announced its quarterly results on Thursday, May 5th. The company reported $0.57 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.58 EPS by $0.01. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 9.90% on a year-over-year basis. On average, analysts predict that El Paso Pipeline Partners will post $0.56 EPS next quarter.
El Paso Pipeline Partners, L.P. owns and operates natural gas transportation pipelines and storage assets. The Company conducts its business activities through various natural gas pipeline systems and storage facilities, including the Wyoming Interstate Company, Ltd., (WIC) system, a 58% general partner interest in Colorado Interstate Gas Company (CIG) and a 25% general partner interest in Southern Natural Gas Company (SNG). WIC is an interstate pipeline transportation business primarily located in Wyoming, Utah and Colorado. CIG is an interstate pipeline transportation and storage business that extends from production areas in the United States Rocky Mountain region to interconnection points on pipelines transporting gas to the midwest, southwest and northwest United States. In July 2009, the Company completed the acquisition of an additional 18% interest in Colorado Interstate Gas Company (CIG) from El Paso Corporation. The acquisition increases the Company's interest in CIG to 58%.
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