A Look into Last Week’s Major Midstream Ratings Updates
Teekay Offshore Partners
Teekay Offshore Partners (TOO) was downgraded last week by Raymond James from “outperform” to “market perform,” which is equivalent to “hold.” Now, 40.0% of analysts surveyed by Reuters rate TOO a “buy,” 40% rate it a “hold,” and the remaining 20.0% rate it a “sell.” TOO’s average target price of $4.50 implies a 73.7% price return from its current prices of $2.6.
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Mizuho initiated coverage on Kinder Morgan (KMI) last week with a “neutral” rating, which is equivalent to “hold.” The midstream energy giant now has a “buy” rating from 63.6% of analysts while the remaining 36.4% rate it a “hold.” KMI’s average target price of $24.75 implies a 21.1% return from the current price levels.
Energy Transfer Partners
Energy Transfer Partners (ETP) saw a downward revision in target prices last week. Raymond James has cut ETP’s target price from $26 to $25 while RBC Capital Markets has cut it from $30 to $28. However, the partnership continues to enjoy strong ratings. 81.8% of analysts’ rate Energy Transfer Partners a “buy” and the remaining 18.2% rate it a “hold” as of July 28. ETP’s average target price of $28.5 implies a 37.7% price return from its current price levels of $20.7.