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EQT

EQT Corporation

, RICE

Rice Energy

09:44
06/19/17
06/19
09:44
06/19/17
09:44

RBC says EQT deal positive for EQT Midstream, negative for Rice Midstream

After EQT (EQT) announced an agreement to acquire Rice Energy (RICE), RBC Capital analyst TJ Schultz called the news a positive for EQT Midstream (EQM) and EQT GP (EQGP), as it will enhance their growth outlook. However, he views it as a near-term negative for Rice Midstream (RMP), which now lacks clarity and no longer has drops to support growth. Schultz added that he thinks EQT eventually will look to collapse the midstream structure to eliminate the IDRs.

EQT

EQT Corporation

RICE

Rice Energy

EQM

EQT Midstream Partners

RMP

Rice Midstream

EQGP

EQT GP

EQT EQT Corporation

03/23/17
STFL
03/23/17
INITIATION
STFL
Buy
EQT Corporation coverage resumed with a Buy at Stifel
Stifel analyst Karl J. Chalabala resumed coverage of EQT with a $63 price target and a Buy rating. The analyst says that the company has the highest leverage to coming natural gas price increases.
03/13/17
TUDR
03/13/17
UPGRADE
TUDR
Buy
EQT Corporation upgraded to Buy from Hold at Tudor Pickering
Tudor Pickering analyst Jeoffrey Lambujon upgraded EQT Corporation to Buy.
05/02/17
STFL
05/02/17
NO CHANGE
STFL
EQT Corporation weakness overdone, says Stifel
Stifel analyst Karl Chalabala says that the decline in EQT's stock following its Q2 results are overdone. Despite the company's lower than expected quarterly production guidance, the analyst raised his estimates, citing "higher well productivity from increased type curves and forward gas strips continuing to grind higher." He raised his price target on the stock to $81 from $63 and keeps a Buy rating on the shares.
01/11/17
BMOC
01/11/17
DOWNGRADE
BMOC
Market Perform
EQT Corporation downgraded on production outlook, valuation at BMO Capital
As noted earlier, BMO Capital downgraded EQT to Market Perform from Outperform. Analyst Phillip Jungwirth expects the company's 2017-18 debt-adjusted production growth to come in below that of its peers. He adds that the shares "trade at a premium to Marcellus/Utica peers on 2017-18 EV/EBITDAX." Target to $73 from $75.
RICE Rice Energy

02/06/17
GHSC
02/06/17
UPGRADE
GHSC
Buy
Rice Energy upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Mike Kelly upgraded Rice Energy to Buy with a $28 price target citing compelling NAV upside and continued operational improvements.
01/30/17
RHCO
01/30/17
DOWNGRADE
RHCO
Hold
Rice Energy downgraded to Hold from Buy at SunTrust
03/23/17
STFL
03/23/17
INITIATION
STFL
Buy
Rice Energy coverage resumed with a Buy at Stifel
Stifel analyst Karl J. Chalabala resumed coverage of Rice with a $32 price target and a Buy rating.
03/31/17
GHSC
03/31/17
DOWNGRADE
Target $26
GHSC
Neutral
Rice Energy downgraded to Neutral from Buy at Seaport Global
Seaport Global analysts led by Mike Kelly downgraded Rice Energy to Neutral from Buy and and lowered its price target to $26 from $28. Kelly said Rice has limited upside relative to his $2.50/Mcf long-term gas estimate and valuation is inline with peers.
EQM EQT Midstream Partners

02/14/17
MSCO
02/14/17
UPGRADE
Target $89
MSCO
Overweight
EQT Midstream Partners upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley upgraded EQT Midstream Partners to Overweight from Equal Weight with an $89 price target. Analyst Tom Abrams said E&P volume guidance continues to be strong and Northeast takeaway looks better. He said despite recent strength, E&P valuations still have further to go and EQT has organic growth opportunities and attractive valuation.
02/20/17
MSCO
02/20/17
UPGRADE
Target $89
MSCO
Overweight
EQT Midstream Partners upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley upgraded EQT Midstream Partners to Overweight from Equal Weight with an $89 price target. Analyst Tom Abrams said E&P volume guidance continues to be strong and Northeast takeaway looks better. He said despite recent strength, E&P valuations still have further to go and EQT has organic growth opportunities and attractive valuation.
01/26/17
01/26/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cognex (CGNX) initiated with a Neutral at JPMorgan. 2. Realogy (RLGY) initiated with a Hold at Deutsche Bank. 3. EQT Midstream Partners (EQM) ande EQT GP (EQGP) were initiated with a Buy at Janney Capital. 4. Williams (WMB) was assumed with an Outperform at Credit Suisse, while Williams Partners (WPZ) was assumed with a Neutral. 5. Actelion (ALIOF) reinstated with a Hold at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/17
MSCO
02/14/17
UPGRADE
MSCO
Overweight
EQT Midstream Partners upgraded to Overweight from Equal Weight at Morgan Stanley
RMP Rice Midstream

08/31/16
MUFG
08/31/16
INITIATION
MUFG
Overweight
Rice Midstream initiated with an Overweight at MUFG
MUFG Securities analysts Barrett Blaschke and Bailey Johnson initiated Rice Midstream with an Overweight rating and a $27 price target.
09/01/16
09/01/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Enova International (ENVA) initiated with a Buy at Jefferies by analyst John Hecht, who sees "meaningful upside" from current shares levels. He views Enova as the leader in the "large, fragmented" market for alternative consumer lending. 2. Orbital ATK (OA) initiated with a Buy at Deutsche Bank by analyst Myles Walton, who views the stock as compelling following the recent pullback. The release of the company's audited financial statements in the next month coupled with a successful resupply mission will drive buying of the shares, Walton tells investors. 3. Spectrum Brands (SPB) initiated with an Overweight at Piper Jaffray by analyst Stephanie Wissink, highlighting the company's diversified business and "strong" capital position. 4. Fortune Brands (FBHS) initiated with a Neutral by Citi analyst Will Randow, who believes the company is well positioned to benefit from the housing recovery but cites valuation for his rating. 5. Rice Midstream (RMP) initiated with an Overweight rating and a $27 price target at MUFG Securities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/02/16
11/02/16
NO CHANGE

Rice Midstream reports Q3 EPS 30c, consensus 27c
Reports Q3 revenue $41.1M, consensus $44.08M. Reports Q3 average throughput of 957 MDth/d, a 43% increase over the prior year quarter and a 2% increase relative to 2Q16.
11/07/16
GSCO
11/07/16
INITIATION
Target $30
GSCO
Buy
Rice Midstream reinitiated with a Buy at Goldman
Goldman analyst John Nelson reinitiated Rice Midstream with a Buy and a $30 price target saying he has increased confidence in volume growth following the Vantage acquisition saying the assets offer immediate growth and longer-term upside.
EQGP EQT GP

02/14/17
MSCO
02/14/17
UPGRADE
MSCO
Overweight
EQT GP upgraded to Overweight from Equal Weight at Morgan Stanley
02/14/17
MSCO
02/14/17
UPGRADE
Target $31
MSCO
Overweight
EQT GP upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley upgraded EQT GP to Overweight from Equal Weight with a $31 price target.Analyst Tom Abrams said E&P volume guidance continues to be strong and Northeast takeaway looks better. He said despite recent strength, E&P valuations still have further to go and EQT has organic growth opportunities and attractive valuation.
01/26/17
JANY
01/26/17
INITIATION
Target $35
JANY
Buy
EQT GP initiated with a Buy at Janney Capital
Janney Capital analyst Akil Marsh initiated EQT GP with a Buy and a $35 price target.

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