Stock 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 first month attributable to the second quarter of 2015, payable on July 17, 2015, to record holders of its common units at the close of business on July 14, 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 August 17, 2015, to record holders of its Series A Units at the close of business on July 31, 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 July 15, 2015, to record holders of Series B Units at the close of business on June 30, 2015. (Original Source)

Shares of Breitburn Energy Partners opened today at $4.76 and are currently trading down at $4.63. 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 $5.45 and its 200-day moving average is $6.18.

On the ratings front, Breitburn Energy Partners has been the subject of a number of recent research reports. In a report issued on June 15, Wunderlich Securities analyst Abhishek Sinha resumed coverage with a Hold rating on BBEP and a price target of $6, which implies an upside of 26% from current levels. Separately, on May 6, MLV & Co.’s Adam Fackler reiterated a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Abhishek Sinha and Adam Fackler have a total average return of -18.3% and -25.0% respectively. Sinha has a success rate of 25.5% and is ranked #3661 out of 3683 analysts, while Fackler has a success rate of 6.7% and is ranked #3631.

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