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Fly News Breaks for December 18, 2019
PAA, ET, EPD, WMB, ETRN
Dec 18, 2019 | 08:15 EDT
Jefferies analyst Christopher Sighinolfi said U.S. midstream equity performance in 2019 has been overshadowed by commodity price weakness and "growing trepidation," but he sees compelling midstream value amid declining leverage, moderating capital spending, escalating free cash flow and third-party M&A. He remains most constructive on the Midstream sector within the broader Midstream & Refining space and favors Williams (WMB) and Equitrans Midstream (ETRN) among the C-corps, adding the latter to the firm's Franchise Picks list. In the MLP group, he prefers Enterprise Products (EPD), Energy Transfer (ET) and Plains All American (PAA), Sighinolfi added.