Company Update (NASDAQ:BBEP): BreitBurn Energy Partners L.P. Announces Monthly Cash Distributions for Common and Preferred Units


BreitBurn Energy Partners L.P. (NASDAQ:BBEP) announced a cash distribution of $0.04166 per common unit for the third month attributable to the first quarter of 2015, payable on June 12, 2015, to record holders of its common units at the close of business on June 8, 2015. This monthly distribution is equal to a distribution of $0.50 per common unit on an annualized basis.

Breitburn also announced today distributions for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (NASDAQ:BBEPP) and 8.0% Series B Perpetual Convertible Preferred Units. A cash distribution of $0.171875 per Series A Unit, is payable on July 15, 2015, to record holders of its Series A Units at the close of business on June 30, 2015. This monthly distribution is equal to an annual distribution of $2.0625 per Series A Unit. Breitburn has elected to pay the distribution on the Series B Units in kind by issuing additional Series B Units instead of paying a cash distribution. A distribution of 0.006666 PIK unit per Series B Unit is payable on June 15, 2015, to record holders of Series B Units at the close of business on May 29, 2015. (Original Source)

Shares of Breitburn Energy Partners opened today at $5.4 and are currently trading down at $5.17. BBEP has a 1-year high of $23.15 and a 1-year low of $4.55. The stock’s 50-day moving average is $6.13 and its 200-day moving average is $7.47.

On the ratings front, Breitburn Energy has been the subject of a number of recent research reports. In a report issued on May 6, MLV & Co. analyst Adam Fackler reiterated a Hold rating on BBEP. Separately, on March 25, UBS’s Shneur Gershuni downgraded the stock to Sell .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Adam Fackler and Shneur Gershuni have a total average return of -15.3% and -4.5% respectively. Fackler has a success rate of 13.3% and is ranked #3495 out of 3610 analysts, while Gershuni has a success rate of 58.8% and is ranked #3232.

The street is mostly Bearish on BBEP stock. Out of 5 analysts who cover the stock, 3 suggest a Sell rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $8.00, which implies an upside of 48.1% from current levels.

BreitBurn Energy Partners LP is engaged in the acquisition, exploitation and development of oil, NGL and gas properties in the United States.