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MLP Rating Updates during the Week Ended September 29

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Dominion Energy Midstream Partners

During the week ended September 29, Dominion Energy Midstream Partners (DM), the midstream MLP owned by Dominion Energy (D), was downgraded by Morgan Stanley from “overweight” to “underweight.” “Underweight” is the equivalent of a “sell” rating. However, Morgan Stanley raised DM’s target price from $32.00 to $33.00. 

Now, 69.2% of analysts surveyed by Reuters rate DM as a “buy,” 23.1% rate it as “hold,” and the remaining 7.7% rate it as a “sell.” Overall, it has seen three rating updates in 2017, including two downgrades and one upgrade. Dominion Energy Midstream Partners’ average target price of $33.70 implies a 5.5% upside potential from its current price levels.

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Hi-Crush Partners

Of the analysts covering Hi-Crush Partners (HCLP), 90.9% rated it as a “buy,” and the remaining 9.1% rated it as a “hold.” Hi-Crush Partners saw an upward revision in its target price during the week ended September 29. 

Credit Suisse raised HCLP’s target price from $12.00 to $15.00. HCLP’s average target price of $14.90 implies an ~50% upside potential from its current price levels.

Cheniere Energy Partners

The three companies comprising the Cheniere franchise—Cheniere Energy (LNG), Cheniere Energy Partners (CQP), and Cheniere Energy Partners LP Holdings (CQH)—saw new coverage initiation from BMO Capital. 

BMO Capital assigned a “buy” rating to LNG and CQP and a “hold” rating to CQH. It assigned target prices of $60.00, $32.00, and $27.00, respectively, to LNG, CQP, and CQH. Their average target prices of $55.50, $34.30, and $26.50 imply upside potential figures of ~21.0%, ~13.0%, and ~8.0%, respectively, from the current price levels.

In the next article, we’ll look into the technical indicators of Cheniere Energy Partners.

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