Acorn Energy Inc (ACFN), Alon USA Energy, Inc. (ALJ), Chesapeake Midstream Partners LP (CHKM), EQT Midstream Partners LP (EQM), Hess (HES), HollyFrontier (HFC), Marathon Petroleum (MPC), ESARO Inc (TSRO), Valero Energy Co. (VLO), Western Refining, Inc. (WNR) and U.S. Steel (X) get new analyst coverage.
Barrington Research initiated coverage on Acorn Energy (ACFN). They placed an "Outperform" rating and price target of $11.30 on the company.
Tudor Pickering initiated coverage on Alon USA Energy, Inc. (ALJ). They placed an "Accumulate" rating on the company.
Barclays Capital initiated coverage on Chesapeake Midstream Partners LP (CHKM). They placed an "Overweight" rating and a price target of $33.00 on the company.
Bank of America initiated coverage on EQT Midstream Partners LP (EQM). They placed a "Buy" rating on the company
Standpoint Research initiated coverage on Hess (HES). They placed a "Buy" rating and a price target of $60.00 on the company.
Tudor Pickering initiated coverage on HollyFrontier (HFC). They placed an "Accumulate" rating on the company.
Tudor Pickering initiated coverage on Marathon Petroleum (MPC). They placed a "Buy" rating on the company
Citigroup initiated coverage on TESARO (TSRO). They placed a "Buy" rating on the company
Tudor Pickering initiated coverage on Valero Energy Co. (VLO). They placed a "Buy" rating on the company
Tudor Pickering initiated coverage on Western Refining, Inc. (WNR). They placed an "Accumulate" rating on the company.
Imperial Capital initiated coverage on U.S. Steel (X) . They placed a "Outperform" rating and a price target of $26.50 on the company.
Showing posts with label Chesapeake Midstream. Show all posts
Showing posts with label Chesapeake Midstream. Show all posts
Monday, July 23, 2012
Wednesday, September 8, 2010
Citigroup (NYSE:C) Initiates Coverage on Chesapeake (NYSE:CHKM)
Citigroup (NYSE:C) has initiated coverage on Chesapeake Midstream Partners, L.P (NYSE:CHKM), one of a coterie of financial institutions which have been attracted to the company.
Citi started off with a "Buy" rating on the company, which transports natural gas from the well head to the pipelines of the companies it serves. Their price target is $28.50.
It's largest customers are Chesapeake Energy (NYSE:CHK) and Total (NYSE:TOT)
Chesapeake Midstream is a venture between Chesapeake Energy and Global Infrastructure Partners LP.
Citi particularly likes the fee-based contracts of Chesapeake, which provides a steady cash flow which has little risk to commodity price fluctuations.
Chesapeake Energy and Total have a minimum volume commitment with Chesapeake Midstream which is contracted over a period of ten years, and increases annually through 2018.
Operating in a low cost region, the company should be able to enjoy solid margins which won't be affected by declining prices of natural gas because of the structure of their revenue.
Citi said even with all that positive for the company, it's probably their relationship with Chesapeake Energy which will be most beneficial, and there is some risk if Global Infrastructure Partners LP were to leave the venture, although that would probably be more of a weight on the share price than risk to the business.
Citi started off with a "Buy" rating on the company, which transports natural gas from the well head to the pipelines of the companies it serves. Their price target is $28.50.
It's largest customers are Chesapeake Energy (NYSE:CHK) and Total (NYSE:TOT)
Chesapeake Midstream is a venture between Chesapeake Energy and Global Infrastructure Partners LP.
Citi particularly likes the fee-based contracts of Chesapeake, which provides a steady cash flow which has little risk to commodity price fluctuations.
Chesapeake Energy and Total have a minimum volume commitment with Chesapeake Midstream which is contracted over a period of ten years, and increases annually through 2018.
Operating in a low cost region, the company should be able to enjoy solid margins which won't be affected by declining prices of natural gas because of the structure of their revenue.
Citi said even with all that positive for the company, it's probably their relationship with Chesapeake Energy which will be most beneficial, and there is some risk if Global Infrastructure Partners LP were to leave the venture, although that would probably be more of a weight on the share price than risk to the business.
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