UPDATE: Stifel Downgrades EV Energy Partners, L.P. On Current Valuation

In a report published Monday, Stifel analyst Brian Brungardt Jr. downgraded the rating on EV Energy Partners, L.P. (NASDAQ: EVEP) from Buy to Hold, and removed the $42.00 price target.

In the report, Stifel noted, “We are transferring coverage of EV Energy Partners L.P. (EVEP) from our colleague Dan Guffey and downgrading units to Hold from Buy. While we are constructive on management's plan to focus on its core business of E&P operations located in low-decline, long-lived properties (and selling non-core assets), we are moving to the sidelines due to current valuations.”

EV Energy Partners, L.P. closed on Friday at $37.55.