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JP Energy Partners Sees Large Volume Increase

Shares of JP Energy Partners (NASDAQ:JPEP) saw strong trading volume on Wednesday. 122,633 shares traded hands during trading, an increase of 141% from the previous session’s volume of 50,988 shares.The stock last traded at $6.99 and had previously closed at $5.74.

Several equities research analysts have recently commented on the stock. Zacks cut shares of JP Energy Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 14th. Robert W. Baird cut shares of JP Energy Partners from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $16.00 to $9.00 in a research note on Tuesday, August 11th. RBC Capital lowered shares of JP Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $17.00 to $10.00 in a report on Tuesday, August 11th. Bank of America lowered shares of JP Energy Partners from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $16.00 to $9.00 in a report on Friday, August 14th. Finally, Barclays cut their price objective on shares of JP Energy Partners from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.80.

The firm has a market capitalization of $220.79 million and a P/E ratio of 37.22. The stock’s 50 day moving average price is $7.69 and its 200 day moving average price is $11.50.

JP Energy Partners (NASDAQ:JPEP) last issued its earnings results on Monday, August 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Equities analysts forecast that JP Energy Partners will post ($0.13) earnings per share for the current fiscal year.

In other news, Director Josh Sherman purchased 3,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $9.10 per share, with a total value of $27,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

JP Energy Partners LP (NASDAQ:JPEP) owns, operates, develops and acquires a portfolio of midstream energy assets in the United States. The Company operates through four segments: Crude Oil Pipelines and Storage, Crude Oil Supply and Logistics, Refined Product Terminals and Storage, and NGL Distribution and Sales. The Company’s crude oil businesses are situated in areas, including the Permian Basin, Mid-Continent and Eagle Ford shale. The Crude Oil Supply and Logistics segment manages the physical movement of crude oil origination to final destination. The Refined Product Terminals and Storage segment consists of two refined products terminals located in North Little Rock, Arkansas and Caddo Mills, Texas. The NGL Distribution and Sales segment includes its propane cylinder exchange business and the retail, commercial and wholesale sale of NGLs and other refined products. The Company markets its propane cylinder exchange business under the Pinnacle Propane Express.