Wunderlich Securities Lowers EPS on EV Energy Partners (EVEP)

Wunderlich Securities lowered its 2011 earnings estimates on EV Energy Partners (NASDAQ: EVEP). In a research report published today, Wunderlich named a fall in production, caused by bad weather, as a reason for its decision.

In the report, Wunderlich states, "We are lowering our 2011 EBITDA estimate to $230.5 million from $233.3 million and our 2012 EBITDA estimate to $273.6 million from $274.8 million. We are lowering our 2011 DCF estimate to $132.4 million from $148.2 million and our 2012 DCF estimate to $150.8 million from $179.3 million. Our distributable cash flow estimates are reduced to $3.52/unit, down from $4.02/unit, for 2011 and to $3.94/unit, from $4.81/unit, for 2012. Our new estimates are a result of lower production and higher interest expense."

Wunderlich currently has a Buy rating and price target of $43 on EV Energy. In yesterday's trading, EV Energy added 2.66% to its value to close the day at $56.40.