UPDATE: Global Hunter Securities Downgrades EV Energy Partners LP to Neutral

Global Hunter Securities lowered its rating on EV Energy Partners LP

from Buy to Neutral but raised its price target from $65 to $66. Global Hunter Securities said. "We are downgrading our rating on EV Energy Partners (EVEP) to Neutral from Buy and raising the price target slightly to $66 from $65. After the recent strong run, we believe the units are fairly valued in the mid-$60s. While we believe that near-term performance will continue to be driven by incremental Utica well results, it is difficult to predict the next data point. We assign a $10K per acre valuation to the Utica and a 9% yield on the base distribution business. We now assign a $17K and $8K per acre valuation to the wet gas and oil acreage, respectively."