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SWN

Southwestern Energy

$6.11

-0.03 (-0.49%)

, BWP

Boardwalk Pipeline

$14.70

0.1 (0.68%)

08:14
10/02/17
10/02
08:14
10/02/17
08:14

Southwestern Energy amends transportation agreement with Boardwalk Pipeline

Southwestern Energy (SWN) announced that it has signed an amended transportation agreement with Boardwalk Pipeline Partners' (BWP) Texas Gas Transmission subsidiary for a portion of its Fayetteville firm takeaway capacity, subject to approval from the Federal Energy Regulatory Commission. This new agreement is effective November 1, 2017 and is expected to provide savings of approximately $70M from 2017 through 2020, including approximately $45M in savings in 2018 through the reduction of current excess capacity, while guaranteeing future flexible takeaway capacity through 2030 at competitive rates. Key components of this amended agreement include: Provides right-sized, fixed rate, guaranteed long-term takeaway capacity and future option capacity to highly sought after gulf coast markets; Fayetteville Lateral volume commitment reduced from 800,000 MMBTU per day to 100,000 MMBTU per day in November 2017 through October 2020 at existing rates; Restructured firm transportation agreements and demand fees beginning in 2021 at approximately $0.10 per MMBTU; and Firm transportation agreements for up to 800,000 MMBTU per day starting in 2021 and decreasing each year.

SWN

Southwestern Energy

$6.11

-0.03 (-0.49%)

BWP

Boardwalk Pipeline

$14.70

0.1 (0.68%)

SWN Southwestern Energy
$6.11

-0.03 (-0.49%)

03/15/17
SBSH
03/15/17
UPGRADE
Target $10
SBSH
Buy
Southwestern Energy upgraded to Buy from Neutral at Citi
Citi analyst Robert Morris upgraded Southwestern Energy to Buy citing valuation with the stock down 50% since reaching a recent peak in early September last year. The analyst lowered his price target for the shares to $10 from $14.
03/23/17
STFL
03/23/17
INITIATION
STFL
Buy
Southwestern Energy initiated with a Buy at Stifel
Stifel analyst Karl Chalabala started coverage of Southwestern Energy with a $10 price target and a Buy rating. As reasons for the rating, the analyst cited valuation, his belief that the company will benefit disproportionately from a Gulf Coast gas shortage in 2018, and upcoming gas pricing gains. Target $10.
04/19/17
COWN
04/19/17
UPGRADE
Target $11
COWN
Outperform
Southwestern Energy upgraded to Outperform from Market Perform at Cowen
Cowen analyst Charles Robertson upgraded Southwestern Energy to Outperform and lowered its price target to $11 from $14 given its strong production growth outlook, year-to-date underperformance, insulation to service costs, and upside to ethane pricing.
09/20/17
WOLF
09/20/17
UPGRADE
WOLF
Peer Perform
Southwestern Energy upgraded to Peer Perform from Underperform at Wolfe
Wolfe Research upgraded Southwestern Energy to Peer Perform and raised its price target to $7 from $6 based on valuation, increasing probability of a Fayetteville divestiture, and a bottom in margins.
BWP Boardwalk Pipeline
$14.70

0.1 (0.68%)

08/01/17
RBCM
08/01/17
DOWNGRADE
RBCM
Sector Perform
Boardwalk Pipeline downgraded to Sector Perform from Outperform at RBC Capital
08/01/17
RBCM
08/01/17
DOWNGRADE
RBCM
Sector Perform
Boardwalk Pipeline downgraded on lack of visibility at RBC Capital
As noted earlier, RBC Capital downgraded Boardwalk to Sector Perform from Outperform. After the company reported lower than expected Q2 adjusted EBITDA, analyst Elvira Scotto "lowered (her) outer year estimates on a more conservative view of (the company's) re-contracting efforts." The analyst expects the stock to be "range bound" until its 2019-2020 outlook become clearer. Target to $18 from $22.
08/01/17
08/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MGM Resorts (MGM) downgraded to Neutral from Buy at UBS with analyst Robin Farley saying the current valuation, with the shares up 37% over the past 12 months, now captures much of the value of the REIT transaction and improving Las Vegas outlook. 2. Boardwalk Pipeline (BWP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Elvira Scotto saying she expects the stock to be "range bound" until its 2019-2020 outlook become clearer. 3. La-Z-Boy (LZB) downgraded to Neutral from Buy at Sidoti with analyst Anthony Lebiedzinski saying shares are approaching his $36 price target. 4. Regeneron (REGN) downgraded to Underperform from Neutral at Baird with analyst Brian Skorney saying Dupixent expectations have gotten ahead of themselves and consensus numbers currently reflect an overlap with Cosentyx sales which looks like an overestimate. 5. Corporate Office Properties (OFC) downgraded to Sell from Hold at Stifel with analyst John Guinee saying he believes that the Real Estate Investment Trust will be hurt by "persistently weak leasing economics," the expirations of a large number of its leases with high rents, and efforts by defense and IT organization to keep rent costs low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SKX

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NTEC

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PM

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On The Fly: Top five analyst downgrades »

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AXP

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BBT

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  • 20

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SCHW

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  • 20

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SKX

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CLF

Cleveland-Cliffs

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TSN

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$NSD

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CLF

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$NYE

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LITE

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CLF

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CLF

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GOOGL

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