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Behind 4 Key MLP General Partners

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1 2 3 4 5 6 7 8 9 10 11
Part 11
Behind 4 Key MLP General Partners PART 11 OF 11

Which MLP General Partner Has the Most ‘Buys’ and ‘Holds’?

Energy Transfer Equity

In this final part of our series, we’ll examine the analyst recommendations for our select group of four MLP (master limited partnership) GP (general partner) peers. Notably, 65.0% of analysts rate Energy Transfer Equity (ETE) a “buy,” and the remaining 35.0% rate it as “hold” as of September 17.

Stifel Nicolaus last initiated coverage of ETE with a “buy” rating. Overall, ETE has seen six rating updates so far in 2017, including four upgrades, one downgrade, and one new coverage. ETE’s average target price of $20.7 implies a ~18% upside potential from its current price level.

Which MLP General Partner Has the Most &#8216;Buys&#8217; and &#8216;Holds&#8217;?

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Williams Companies

Williams Companies (WMB) has the most “buy” ratings among select peers, with 77.8% of analysts rating WMB a “buy,” and the remaining 22.2% rating it a “hold” as of September 17.

Barclays last upgraded WMB to “overweight,” which is equivalent to a “buy,” in July 2017. Overall, the C corporation has seen six rating updates so far in 2017, including three upgrades, two downgrades, and one new coverage. WMB’s average target price of $34.1 implies ~12% upside potential from its current level.

Plains GP Holdings

By comparison, 59.1% of analysts surveyed by Reuters rate Plains GP Holdings (PAGP) a “buy,” and the remaining 40.9% rate it a “hold.” PAGP saw three rating upgrades and one downgrade last month.

PAGP was upgraded likely due to its overcorrection following its distribution cut announcement. PAGP’s average target price of $25.7 implies a ~12% upside potential from its current price level.

Western Gas Equity Partners

Western Gas Equity Partners (WGP) has the most “hold” ratings in our select peer group, likely due to WGP’s high valuation. Notably, 62.5% of analysts rate WGP a “hold,” and the remaining 37.5% rate it a “buy” as of September 17. WGP’s average target price of $49.1 implies a ~21.0% upside potential from its current price level.

For more coverage of midstream companies, check out Market Realist’s Master Limited Partnerships page.

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