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.
Showing posts with label Western Gas. Show all posts
Showing posts with label Western Gas. Show all posts
Friday, October 15, 2010
Monday, October 4, 2010
Western Gas (NYSE:WES) Retains "Overweight" from Barclays (NYSE:BCS)
Barclays (NYSE:BCS) reiterated an "Overweight" rating on Western Gas Partners LP (NYSE:WES), citing potential for organic growth.
Barclays analyst says, "Wattenberg field trip highlights strong drilling economics and midstream organic expansion potential: We came back from the Wattenberg field trip hosted by WES with a renewed confidence in our recommendation. The newly acquired Wattenberg systems should not only benefit from strong producer economics but also from Niobrara shale upside ... We believe some of the near-term organic expansion opportunities include expanding gathering footprint and adding capacity to the White Cliff crude pipeline," said Barclays.
Also via their subsidiary, Anadarko Wattenberg Company, Western increased their stake in the White Cliffs crude oil pipeline, acquiring a piece of the sale from SemGroup Corp., which sold a portion of its stake for $141 million.
That pushes Western's stake in the pipeline to 10 percent. Noble Energy (NYSE:NBL) increased their stake in White Cliff to 5 percent.
Western closed the week at $27.43, gaining $0.33 on the day, or 1.22 percent.
Barclays increased their price target on Western from $27 to $29.
Barclays analyst says, "Wattenberg field trip highlights strong drilling economics and midstream organic expansion potential: We came back from the Wattenberg field trip hosted by WES with a renewed confidence in our recommendation. The newly acquired Wattenberg systems should not only benefit from strong producer economics but also from Niobrara shale upside ... We believe some of the near-term organic expansion opportunities include expanding gathering footprint and adding capacity to the White Cliff crude pipeline," said Barclays.
Also via their subsidiary, Anadarko Wattenberg Company, Western increased their stake in the White Cliffs crude oil pipeline, acquiring a piece of the sale from SemGroup Corp., which sold a portion of its stake for $141 million.
That pushes Western's stake in the pipeline to 10 percent. Noble Energy (NYSE:NBL) increased their stake in White Cliff to 5 percent.
Western closed the week at $27.43, gaining $0.33 on the day, or 1.22 percent.
Barclays increased their price target on Western from $27 to $29.
Subscribe to:
Posts (Atom)
