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WMB

Williams

$27.03

0.29 (1.08%)

, TRGP

Targa Resources

$44.37

0.7 (1.60%)

16:12
02/13/19
02/13
16:12
02/13/19
16:12

Williams, Targa announce natgas liquids pacts, NGL pipeline projects

Williams (WMB) and Targa Resources Corp. (TRGP) announced new natural gas liquids agreements and NGL pipeline projects that will link the Conway, Kansas, and Mont Belvieu, Texas, NGL markets. Williams will build a 188-mile NGL pipeline, called the "Bluestem Pipeline," from its fractionator in Conway, Kansas, and the southern terminus of Overland Pass Pipeline to an interconnect with Targa's Grand Prix NGL Pipeline in Kingfisher County, Oklahoma. Targa will construct a 110-mile extension of Grand Prix from southern Oklahoma into the Sooner Trend, Anadarko, Canadian and Kingfisher region of Central Oklahoma where it will connect with Williams' new Bluestem Pipeline. In connection with this project, Williams has committed to Targa significant volumes which Targa will transport on Grand Prix and fractionate at Targa's Mont Belvieu facilities. Williams will also have an initial option to purchase a 20 percent equity interest in one of Targa's recently announced new fractionation trains 7 or 8 in Mont Belvieu. Targa's Grand Prix extension will have an initial capacity of approximately 120,000 barrels per day and is expected to cost approximately $200M. Targa and Williams are targeting an in-service date of first-quarter 2021 for both the Grand Prix extension and the new Bluestem Pipeline, respectively. As part of the project, Williams also plans to expand the DJ Lateral of the Overland Pass Pipeline and make improvements at its Conway NGL Storage facility. Williams expects its investment in these NGL logistics projects to be $350M to $400M.

WMB

Williams

$27.03

0.29 (1.08%)

TRGP

Targa Resources

$44.37

0.7 (1.60%)

  • 14

    Feb

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    Feb

  • 04

    Mar

WMB Williams
$27.03

0.29 (1.08%)

01/16/19
LEHM
01/16/19
UPGRADE
Target $31
LEHM
Overweight
Williams upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Christine Cho upgraded Williams Companies to Overweight with a $31 price target. The company is now positioned to reduce leverage at an accelerated pace and internally fund incremental growth projects and/or return capital to shareholders in a more meaningful way, Cho tells investors in a research note.
01/16/19
01/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. MetLife (MET) upgraded to Buy from Neutral at BofA/Merrill with analyst Jay Cohen saying quality concerns are diminishing as management addresses past issues and believes the business mix has notably changed for the positive following the Brighthouse spin. 2. ING Group (ING) upgraded to Buy from Hold at Societe Generale. 3. Williams (WMB) upgraded to Overweight from Equal Weight at Barclays analyst Christine Cho saying the company is now positioned to reduce leverage at an accelerated pace and internally fund incremental growth projects and/or return capital to shareholders in a more meaningful way. 4. Accenture (ACN) upgraded to Buy from Neutral at Citi with analyst Ashwin Shirvaikar saying against a backdrop of rising political and policy risks, a more defensive Information Technology Services stance is appropriate. 5. Nutanix (NTNX) and Teradata (TDC) were upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/28/19
JEFF
01/28/19
DOWNGRADE
JEFF
Hold
DCP Midstream downgraded to Hold from Buy at Jefferies
Jefferies analyst Christopher Sighinolfi downgraded DCP Midstream (DCP) to Hold, from Buy, citing valuation following early year-to-date gains. While he is still bullish on U.S. Midstream, he favors defensive names with contracted 2019-20 cash flow growth supported by pending asset in-services, such as Williams (WMB), Equitrans Midstream (ETRN) and Enterprise Products (EPD), Sighinolfi tells investors.
02/05/19
EVER
02/05/19
INITIATION
Target $31
EVER
Outperform
Williams initiated with an Outperform at Evercore ISI
Evercore ISI analyst Durgesh Chopra initiated Williams with an Outperform and $31 price target.
TRGP Targa Resources
$44.37

0.7 (1.60%)

01/09/19
FBCO
01/09/19
UPGRADE
FBCO
Outperform
Targa Resources upgraded to Outperform from Neutral at Credit Suisse
01/09/19
01/09/19
UPGRADE
Target $60

Outperform
Targa Resources upgraded to Outperform at Credit Suisse on funding outlook
As previously reported, Credit Suisse analyst Spiro Dounis upgraded Targa Resources to Outperform from Neutral, with a $60 price target, as he expects the company can fund growth without heavy reliance on the At-The-Market program, and given the recent selloff across the midstream space that has created additional upside potential as the stock has fallen almost 30% since peaking in Q4. Further, the analyst notes that Targa Resources is on pace for a cash flow inflection thanks to peer leading EBITDA growth at about 17% CAGR through 2022.
01/29/19
GHSC
01/29/19
UPGRADE
GHSC
Buy
Targa Resources upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Sunil Sibal upgraded Targa Resources to Buy from Neutral citing recent underperformance and lowered its price target to $48 from $58. The analyst lowered estimates do account for lower commodity prices and assumes the divestiture of its 50% stake in Badlands in the middle of 2019.
02/05/19
EVER
02/05/19
INITIATION
Target $46
EVER
In Line
Targa Resources initiated with an In Line at Evercore ISI
Evercore ISI analyst Durgesh Chopra initiated Targa Resources with an In Line and $46 price target.

TODAY'S FREE FLY STORIES

SPN

Superior Energy

$4.43

0.165 (3.87%)

16:53
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MSG

Madison Square Garden

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0.85 (0.29%)

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WIN

Windstream

$3.37

0.2 (6.31%)

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Windstream postpones release of Q4, FY18 financial results »

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UFPI

Universal Forest

$32.22

0.36 (1.13%)

16:43
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Universal Forest signs agreement to acquire Wolverine Wood Products »

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  • 21

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SCI

Service Corp.

$45.96

0.56 (1.23%)

16:36
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16:36
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Earnings
Breaking Earnings news story on Service Corp. »

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  • 19

    Feb

SCI

Service Corp.

$45.96

0.56 (1.23%)

16:34
02/18/19
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Earnings
Service Corp. reports Q4 adjusted EPS 54c, consensus 56c »

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  • 19

    Feb

APY

Apergy

$36.84

0.92 (2.56%)

16:27
02/18/19
02/18
16:27
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16:27
Earnings
Apergy reports Q4 adjusted EPS 36c, consensus 33c »

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  • 19

    Feb

NAVI

Navient

$11.75

0.12 (1.03%)

16:20
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Navient rejects highly conditional unsolicited 'expression of interest' »

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SLCA

U.S. Silica

$14.41

-0.005 (-0.03%)

16:15
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24 SandBox Logistics patent claims invalidated »

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    Feb

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JBHT

J.B. Hunt

$113.78

1.66 (1.48%)

16:12
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Hot Stocks
J.B. Hunt completes acquisition of Cory 1st Choice Home Delivery »

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  • 20

    Feb

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  • 06

    Mar

CAT

Caterpillar

$136.21

3.575 (2.70%)

16:10
02/18/19
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Hot Stocks
Caterpillar announces several officer moves »

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  • 20

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CUB

Cubic

$60.35

2.995 (5.22%)

16:07
02/18/19
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Hot Stocks
Cubic announces semiannual dividend of 13.5c per share »

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  • 18

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    Feb

HMC

Honda

$27.35

0.04 (0.15%)

13:11
02/18/19
02/18
13:11
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13:11
Periodicals
Honda plan to close U.K. plant not due to Brexit, Reuters reports »

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HMC

Honda

$27.35

0.04 (0.15%)

13:07
02/18/19
02/18
13:07
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13:07
Periodicals
Honda to close U.K. car plant in 2022, Reuters reports »

Honda is set to announce…

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LUNMF

Lundin Mining

$0.00

(0.00%)

13:04
02/18/19
02/18
13:04
02/18/19
13:04
Downgrade
Lundin Mining rating change at Goldman Sachs »

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CVR

Chicago Rivet & Machine

$28.36

0.56 (2.01%)

12:38
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Hot Stocks
Chicago Rivet & Machine announces increase in quarterly cash dividend to 22c »

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DGX

Quest Diagnostics

$87.77

2.27 (2.66%)

, XRX

Xerox

$30.46

0.63 (2.11%)

12:36
02/18/19
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Hot Stocks
Quest Diagnostics names Gabrielle Wolfson senior VP, CIO »

Quest Diagnostics (DGX)…

DGX

Quest Diagnostics

$87.77

2.27 (2.66%)

XRX

Xerox

$30.46

0.63 (2.11%)

03/08/13
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SRDX

Surmodics

$56.79

3.09 (5.75%)

12:29
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Hot Stocks
Surmodics announces appointment of Timothy Arens as CFO »

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  • 06

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  • 07

    Mar

CUB

Cubic

$60.35

2.995 (5.22%)

, IBM

IBM

$138.05

1.55 (1.14%)

12:28
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Hot Stocks
Cubic names IBM, Microsoft executive Kevin Eagan as Senior VP, Chief Digital »

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CUB

Cubic

$60.35

2.995 (5.22%)

IBM

IBM

$138.05

1.55 (1.14%)

MSFT

Microsoft

$108.19

1.35 (1.26%)

03/08/13
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  • 18

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CGUSY

Casino Guichard Perrachon

$0.00

(0.00%)

11:50
02/18/19
02/18
11:50
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11:50
Downgrade
Casino Guichard Perrachon rating change at Deutsche Bank »

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CPYYY

Centrica

$0.00

(0.00%)

11:46
02/18/19
02/18
11:46
02/18/19
11:46
Downgrade
Centrica rating change at Berenberg »

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11:15
02/18/19
02/18
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11:15
General news
FX Summary: AUD-JPY has been the biggest mover »

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MSM

MSC Industrial

$86.24

0.81 (0.95%)

11:07
02/18/19
02/18
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11:07
Hot Stocks
MSC Industrial reports patent issued for cost-savings documentation system »

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  • 20

    Feb

08:35
02/18/19
02/18
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08:35
General news
Oil Action: Front-month WTI crude futures are up 1.0% »

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General news
FX Update: A Dollar softening theme took hold during the London AM session »

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