Atlantic Equities Cuts El Paso Corporation to Underweight (EP)

By admin | 6 years ago

El Paso Corporation (NYSE: EP) was downgraded by research analysts at Atlantic Equities from a “neutral” rating to an “underweight” rating in a report released on Tuesday.

Shares of El Paso Corporation traded down 1.18% during mid-day trading on Tuesday, hitting $29.41. El Paso Corporation has a 52 week low of $16.30 and a 52 week high of $30.86. The company has a market cap of $22.730 billion and a P/E ratio of 141.04.

El Paso Corporation last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.10. On average, analysts predict that El Paso Corporation will post $0.27 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group (NYSE: JEF) upgraded shares of El Paso Corporation from a “hold” rating to a “buy” rating in a research note to investors on Monday, April 9th. They now have a $35.50 price target on the stock, up previously from $35.00. Separately, analysts at Morgan Stanley (NYSE: MS) initiated coverage on shares of El Paso Corporation in a research note to investors on Wednesday, March 28th. They set an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of El Paso Corporation in a research note to investors on Wednesday, February 29th. They now have a $29.00 price target on the stock.

El Paso Corporation (El Paso) is an energy company, which operates in the natural gas transmission and exploration and production sectors of the energy industry.

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