UPDATE: Stifel Downgrades EV Energy Partners (EVEP) to Hold
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(Updated - October 31, 2016 8:41 AM EDT)
Stifel downgraded EV Energy Partners (NASDAQ: EVEP) from Buy to Hold with a price target of $2.00 (from $4.00).
Analyst Brian J. Brungardt, Jr. said, "We are downgrading units to Hold from Buy as we look for the capital markets to improve for the traditional upstream MLPs. We continue to view the partnership as the best positioned to weather this downturn given the approximate 40% availability under its credit facility entering the fall redetermination. That being said, we see limited growth in the current commodity environment as the focus remains on balance sheet management and, in turn, limited potential value creation for the equity holders in our opinion."
Shares of EV Energy Partners closed at $2.17 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Piedmont Office Realty Trust (PDM) to Hold
- Seaport Global Securities Downgrades FMC Corp. (FMC) to Neutral
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
Create E-mail Alert Related CategoriesAnalyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!