El Paso (EP), Williams Partners (WPZ), Chesapeake Midstream (CHKM), TransCanada (TRP) Rose Rock Midstream (RRMS), Enbridge Inc (ENB), and Spectra Energy (SE) had ratings and price targets on them adjusted by analysts.
Deutsche Bank initiated coverage on El Paso (EP). They placed an "Hold" rating on the company.
Deutsche Bank initiated coverage on Williams Partners (WPZ). They placed an "Hold" rating on the company.
Deutsche Bank initiated coverage on Chesapeake Midstream (CHKM). They placed an "Hold" rating on the company.
Deutsche Bank initiated coverage on TransCanada (TRP). They placed an "Hold" rating on the company.
Deutsche Bank initiated coverage on Rose Rock Midstream (RRMS). They placed an "Buy" rating on the company.
Deutsche Bank initiated coverage on Enbridge (ENB). They placed an "Buy" rating on the company.
Deutsche Bank initiated coverage on Spectra Energy (SE). They placed an "Buy" rating on the company.
Showing posts with label Chesapeake Midstream Partners. Show all posts
Showing posts with label Chesapeake Midstream Partners. Show all posts
Tuesday, February 14, 2012
Friday, October 15, 2010
Wells Fargo (NYSE:WFC) Looks at Chesapeake (Nasdaq:CHKM), DCP (NYSE:DPM), Regency (Nasdaq:RGNC), Western (NYSE:WES), Crosstex (Nasdaq:XTEX), Atlas (N
Wells Fargo (NYSE:WFC) took an overall look at the MLPs industry, including Gathering & Processing MLPs' Chesapeake Midstream (Nasdaq:CHKM), DCP Midstream (NYSE:DPM), Regency Energy Partners, L.P. (Nasdaq:RGNC), Western Gas Partners (NYSE:WES), and Crosstex Energy (Nasdaq:XTEX), and lowering our estimates for Atlas Pipeline (NYSE:APL), Copano Energy (Nasdaq:CPNO), MarkWest Energy (NYSE:MWE), and Targa Resources (NYSE:NGLS).
Here's how sized up the group of companies in general: "We are updating our models to reflect actual commodity prices in Q3’10, our revised commodity price deck, and the impact of recent acquisitions/financings. For 2010, we are lowering our DCF per unit estimates by an average of 1%. For 2011, we are raising our DCF per unit estimates for Chesapeake Midstream, DCP Midstream, RGNC, Western Gas Partners, and Crosstex Energy, and lowering our estimates for Atlas Pipeline, Copano Energy, MarkWest Energy, and NGLS."
Their favorite pick in the subsector, is Regency Energy Partners, L.P.
Targa closed Thursday at $28.66, down $0.81, or 2.76 percent. Chesapeake Midstream was slightly lower at $27.08, losing $0.03, or 0.11 percent. DCP Midstream fell to $35.34, dropping $0.44, or 1.23 percent. Regency closed at $24.75, losing $0.17, or 0.68 percent. Western Gas Partners lost $0.33, closing at $28.79, down 1.13 percent. Crosstex Energy closed at just above level, gaining a penny, or 0.07 percent. Atlas Pipeline Partners ended the session at $19.49, falling $0.34, or 1.71 percent. Copano Energy also closed a little above level, gaining $0.04, or 0.14 percent. MarkWest Energy decreased to $38.05 on the day, falling $0.35, or 0.91 percent. Targa ended the trading day at $28.66, losing $0.81, or 2.76 percent.
Here's how sized up the group of companies in general: "We are updating our models to reflect actual commodity prices in Q3’10, our revised commodity price deck, and the impact of recent acquisitions/financings. For 2010, we are lowering our DCF per unit estimates by an average of 1%. For 2011, we are raising our DCF per unit estimates for Chesapeake Midstream, DCP Midstream, RGNC, Western Gas Partners, and Crosstex Energy, and lowering our estimates for Atlas Pipeline, Copano Energy, MarkWest Energy, and NGLS."
Their favorite pick in the subsector, is Regency Energy Partners, L.P.
Targa closed Thursday at $28.66, down $0.81, or 2.76 percent. Chesapeake Midstream was slightly lower at $27.08, losing $0.03, or 0.11 percent. DCP Midstream fell to $35.34, dropping $0.44, or 1.23 percent. Regency closed at $24.75, losing $0.17, or 0.68 percent. Western Gas Partners lost $0.33, closing at $28.79, down 1.13 percent. Crosstex Energy closed at just above level, gaining a penny, or 0.07 percent. Atlas Pipeline Partners ended the session at $19.49, falling $0.34, or 1.71 percent. Copano Energy also closed a little above level, gaining $0.04, or 0.14 percent. MarkWest Energy decreased to $38.05 on the day, falling $0.35, or 0.91 percent. Targa ended the trading day at $28.66, losing $0.81, or 2.76 percent.
Monday, September 13, 2010
Wells Fargo (NYSE:WFC) Initiates Coverage on Chesapeake Midstream (NYSE:CHKM)
Chesapeake Midstream Partners (NYSE:CHKM) has captured a lot of attention from the financial world recently, with Wells Fargo (NYSE:WFC) being the latest to initiate coverage on them, starting off with a "Market Perform" rating.
"CHKM has 100% fee-based cash flow and visible growth prospects tied to its GP's drilling plans and potential drop-down opportunities. We forecast a five-year distribution compound annual growth rate (CAGR) of 9.3%, assuming average annual (1) acquisitions of $300 million and (2) growth capex of $510 million. However, CHKM's attractive attributes and above-average growth profile appear fairly reflected in the current valuation, in our view. Approximately 80% of CHKM's distribution is tax deferred," said the Wells analyst.
Other companies recently initiating coverage on Chesapeake Midstream are UBS (NYSE:UBS), who started them with a "Buy"; Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC), with a "Neutral"; and Barclays (NYSE:BCS) with an "Overweight."
Chesapeake Midstream Partners is a provider of natural gas gathering and processing services.
"CHKM has 100% fee-based cash flow and visible growth prospects tied to its GP's drilling plans and potential drop-down opportunities. We forecast a five-year distribution compound annual growth rate (CAGR) of 9.3%, assuming average annual (1) acquisitions of $300 million and (2) growth capex of $510 million. However, CHKM's attractive attributes and above-average growth profile appear fairly reflected in the current valuation, in our view. Approximately 80% of CHKM's distribution is tax deferred," said the Wells analyst.
Other companies recently initiating coverage on Chesapeake Midstream are UBS (NYSE:UBS), who started them with a "Buy"; Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC), with a "Neutral"; and Barclays (NYSE:BCS) with an "Overweight."
Chesapeake Midstream Partners is a provider of natural gas gathering and processing services.
Wednesday, September 8, 2010
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), UBS (NYSE:UBS), Barclays (NYSE:BCS) Initiate Coverage on Chesapeake (NYSE:CHKM)
It has been awhile since I've seen this many companies initiate coverage on a company at one time, but Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), UBS (NYSE:UBS) and Barclays (NYSE:BCS) have all started covering Chesapeake Midstream Partners, L.P (NYSE:CHKM).
UBS and Citigroup were the most upbeat on Chesapeake, starting them off at a "Buy." UBS wasn't as positive on its price target for the company, setting it at $25.50, while Citigroup is looking for $28.50.
Goldman Sachs and Bank of America, via Merrill Lynch, placed a "Neutral" rating on Chesapeake. Goldman has a price target of $25 on them.
Barclays rates the company at "Overweight," with a price target of $26.
Every financial institution liked the way the revenue for the company is structured, based on contracted fees over a period of 10 years.
That means there is little risk or downside to changing commodity or natural gas prices, as the fees aren't primarily based on price but on the service offered, which is transporting gas from the well head to the pipeline of the company they're doing business with.
Along with Chesapeake Energy (NYSE:CHK), the other major customer of Chesapeake Midstream is Total (NYSE:TOT).
There is a minimum volume agreement in place over a ten-year period, which will increase on an annual basis through 2018.
Chesapeake Midstream is a venture between Global Infrastructure Partners LP and Chesapeake Energy.
UBS and Citigroup were the most upbeat on Chesapeake, starting them off at a "Buy." UBS wasn't as positive on its price target for the company, setting it at $25.50, while Citigroup is looking for $28.50.
Goldman Sachs and Bank of America, via Merrill Lynch, placed a "Neutral" rating on Chesapeake. Goldman has a price target of $25 on them.
Barclays rates the company at "Overweight," with a price target of $26.
Every financial institution liked the way the revenue for the company is structured, based on contracted fees over a period of 10 years.
That means there is little risk or downside to changing commodity or natural gas prices, as the fees aren't primarily based on price but on the service offered, which is transporting gas from the well head to the pipeline of the company they're doing business with.
Along with Chesapeake Energy (NYSE:CHK), the other major customer of Chesapeake Midstream is Total (NYSE:TOT).
There is a minimum volume agreement in place over a ten-year period, which will increase on an annual basis through 2018.
Chesapeake Midstream is a venture between Global Infrastructure Partners LP and Chesapeake Energy.
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