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Fly News Breaks for January 14, 2020
CNXM, MPLX, NBLX, WMB, KMI, TCP, CEQP, MMP, PAGP, PAA
Jan 14, 2020 | 08:11 EDT
Barclays analysts including Christine Cho upgraded Plains All American (PAA), Plains GP Holdings (PAGP), Magellan Midstream (MMP), Crestwood Equity (CEQP) and TC PipeLines (TCP) to Overweight from Equal Weight while downgrading Kinder Morgan (KMI), Williams (WMB), Noble Midstream (NBLX), MPLX (MPLX), and CNX Midstream Partners (CNXM) to Equal Weight from Overweight. The downgrades of Williams and MPLX reflect their Northeast gas exposure. While expectations are reset given their respective underperformances in the back half of last year, outperformance in 2020 is unlikely, Cho tells investors in a research note. The changes in Plains, Kinder Morgan and and CNX are valuation calls. The analyst says the Magellan Midstream and TCP upgrades are "quality names" with the former likely announcing some form of capital return to shareholders while the latter continues to build up an organic backlog of solid returning projects. For Crestwood, Cho believes its concentration in the Bakken and a resumption for distribution growth will support the stock while a lack of catalysts and a more subdued growth outlook prompts a move to the sidelines.
News For PAA;PAGP;MMP;CEQP;TCP;KMI;WMB;NBLX;MPLX;CNXM From the Last 2 Days
KMI
Mar 28, 2024 | 16:23 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
KMI
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here