Wunderlich Maintains Hold on EV Energy Partners (EVEP)

Wunderlich is out with its report today on EV Energy Partners (NASDAQ: EVEP), maintaining Hold.

In a note to clients, Wunderlich writes, "EV Energy Partners, L.P. issued equity last week to pay down debt. The partnership slowed distribution growth over the last two years in response to a weaker natural gas price environment. However, we believe the partnership will start to increase its distribution at a higher growth rate starting in 2011 as it reaps the benefits of recent acquisitions. We forecast distribution growth at 4.3% in 2011 and 6.3% in 2012. We have a Hold rating on EVEP and a price target of $43/unit."

Shares of EVEP closed Friday at $44.89, down 3.05% from Thursday's close.