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TGE

Tallgrass Energy

$24.02

0.61 (2.61%)

, KMI

Kinder Morgan

$18.00

0.28 (1.58%)

06:49
01/22/19
01/22
06:49
01/22/19
06:49

Tallgrass Energy and Kinder Morgan sign agreement

Tallgrass Energy (TGE) and Kinder Morgan (KMI) announced an agreement to jointly develop a solution to increase existing crude oil takeaway capacity in the growing Powder River and Denver-Julesburg basins and to add incremental capacity to the Williston Basin and portions of Western Canada. Pursuant to the agreement, the proposed venture would include both existing and newly constructed assets. TGE would contribute its Pony Express Pipeline System, and KMI would contribute portions of its Wyoming Intrastate Company and Cheyenne Plains Gas Pipeline and begin the process of abandonment and conversion to crude oil service. In addition, approximately 200 miles of new pipeline would be constructed to provide crude oil deliveries into Cushing, Okla. In total, the combined pipeline system is expected to be capable of delivering up to 800,000 barrels per day of light crude oil and 150,000 bpd of heavy crude oil from points in Wyoming and Colorado to TGE's and KMI's Deeprock terminal in Cushing. The combined project is expected to provide initial service as early as the second half of 2020.

TGE

Tallgrass Energy

$24.02

0.61 (2.61%)

KMI

Kinder Morgan

$18.00

0.28 (1.58%)

  • 31

    Jan

  • 10

    Feb

  • 28

    May

TGE Tallgrass Energy
$24.02

0.61 (2.61%)

01/11/19
BOFA
01/11/19
INITIATION
Target $22
BOFA
Underperform
Tallgrass Energy reinstated with an Underperform at BofA/Merrill
BofA/Merrill analyst Dennis Coleman reinstated Tallgrass Energy with an Underperform and $22 price target citing uncertainty regarding recontacting, execution, and a potential equity overhang.
10/10/18
FBCO
10/10/18
INITIATION
Target $29
FBCO
Outperform
Tallgrass Energy initiated with an Outperform at Credit Suisse
Credit Suisse analyst Spiro Dounis initiated Tallgrass Energy with a Outperform rating and a price target of $29.
10/08/18
GSCO
10/08/18
INITIATION
Target $27
GSCO
Buy
Tallgrass Energy initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Michael Lapides initiated Tallgrass Energy with a Buy rating and a price target of $27 per unit as part of his broader research note on Americas Pipelines and MLPs partially titled "the Age of Normalcy moves ahead". The analyst cites the growth of the company's crude volume flows outweighing the modest headwinds from Rockies Express Pipeline contract expiration as well as the growth projects at its natural gas pipeline segment that includes Cheyenne Connector.
08/20/18
MUFG
08/20/18
NO CHANGE
Target $26
MUFG
Neutral
Tallgrass Energy combination to benefit from lower cost of capital, says MUFG
MUFG analyst Barrett Blaschke says the combined business of the GP and IDRs of Tallgrass stands to benefit from "a lower cost of equity capital as it looks at growth via both organic projects and strategic acquisitions." The analyst also points to the company announcing ambitious new growth opportunities, including the proposed Seahorse crude line that will "effectively tie the partnership's Pony Express line to the Gulf Coast via Cushing, OK". Blaschke keeps his Neutral rating on the stock with a price target of $26.
KMI Kinder Morgan
$18.00

0.28 (1.58%)

01/02/19
GSCO
01/02/19
NO CHANGE
Target $24
GSCO
Conviction Buy
Kinder Morgan remains top pick among midstream energy stocks, says Goldman Sachs
Goldman Sachs analysts Jerren Holder and Michael Lapides have a positive view of the Midstream energy stocks moving toward positive free cash flows, with Conviction Buy-rated Kinder Morgan (KMI) as their top pick. In a broader research note, the analysts also upgraded Plains All American (PAA) and Cheniere Energy (LNG) to Buy from Neutral and Semgroup (SEMG) and Sunoco (SUN) to Neutral from Sell. The analysts note that the "simplification thesis" in the sector continues to play out, volumes are growing, and "many new takeaway pipelines are coming online", even though the midstream stocks' performance has been lagging. Holder and Lapides believe that an inflection is ahead with more major projects coming online after a period of high capital spending.
12/20/18
JEFF
12/20/18
UPGRADE
Target $19
JEFF
Buy
Kinder Morgan upgraded to Buy from Hold at Jefferies
Jefferies analyst Christopher Sighinolfi upgraded Kinder Morgan to Buy with an unchanged price target of $19. The analyst finds the Midstream & Refining attractive citing "simplified structures, reduced leverage, minimal equity need, and continued growth." U.S. Midstream and Refining equities are approaching year-end at multi-year lows with valuation multiples 15%-30% below three-year averages, Sighinolfi tells investors in a research note titled "Hey Nineteen, That's Real Opportunity." The analyst sees "supportive" 2019-2020 fundamentals and believes investors will find value in the sector. As such, he upgraded 10 names in the space.
12/18/18
MSCO
12/18/18
NO CHANGE
MSCO
Morgan Stanley upgrades Midstream sector view to Attractive
Morgan Stanley analyst Tom Abrams upgraded his view on the Midstream Energy MLPs and Diversified Natural Gas sector to Attractive, stating that he expects a year of better midstream performance given an attractive fundamental outlook for production volumes as projects move into service. He also sees the industry's "quality" as improving, with simpler structures, improved governance and better and improving balance sheets, Abrams tells investors. With all else equal, he prefers names such as Energy Transfer (ET) and Williams (WMB), which he says have less structural overhang, attractive fee-based growth and improving balance sheets. Abrams also identifies Kinder Morgan (KMI) and Plains All American (PAA) as stocks in the sector that have catalysts expected in 2019.
11/28/18
MZHO
11/28/18
INITIATION
Target $22
MZHO
Buy
Kinder Morgan initiated with a Buy at Mizuho
Mizuho analyst Gabriel Moreen initiated Kinder Morgan with a Buy rating and a price target of $22 as part of his broader launch of coverage of select MLP/Midstream stocks. The analyst states that this "hegemonic natural gas transporter" is benefiting from growing natural gas production that is "seeking international markets", along with higher domestic consumption amid rising coal-to-gas power generation conversions. Moreen believes that Kinder Morgan can "sustain a moderate growth rate" even after the exit from Trans Mountain expansion.

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$237.05

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