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MLP Rating Updates during the Week Ending December 15

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Dec. 4 2020, Updated 10:52 a.m. ET

Hi-Crush Partners

Barclays initiated coverage on Hi-Crush Partners (HCLP) last week with an “equal weight” rating, which is equivalent to “hold.” Barclays assigned a target price of $12. Now, 85.7% of the analysts surveyed by Reuters rate Hi-Crush Partners as a “buy,” while 14.3% rate it as a “hold.” It was Hi-Crush Partners’ sixth rating update in the last six months. Its average target price of $14.9 implies ~39% upside potential from the current price levels.

      

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Dominion Energy Midstream Partners

Dominion Energy Midstream Partners (DM), the midstream MLP subsidiary of Dominion Energy (D), was downgraded by JPMorgan Chase last week. JPMorgan Chase lowered Dominion Energy Midstream Partners to “neutral” from “overweight.” Of the analysts, 46.2% rate Dominion Energy Midstream Partners as a “buy,” 46.2% rate it as a “hold,” and 7.6% rate it as a “sell.” Currently, Dominion Energy Midstream Partners is trading below the low range ($32) of analysts’ target price. Its average target price of $34.5 implies ~12% upside potential from the current price levels.

EQT GP Holdings

EQT GP Holdings (EQGP), the general partner of EQT Midstream Partners (EQM), was upgraded by JPMorgan Chase last week. JPMorgan Chase upgraded EQT GP Holdings to “overweight” from “neutral.” It was EQT GP Holdings’ fifth rating in 2017. Now, 58.3% of the analysts’ rate EQT GP Holdings as a “buy,” while 41.7% rate it as a “hold.” Its average target price of $31.9 implies ~22% upside potential from the current price levels.

Magellan Midstream Partners

Last week, BMO Capital Markets upgraded Magellan Midstream Partners (MMP) to “outperform,” which is equivalent to “buy.” BMO Capital Markets assigned Magellan Midstream Partners a target price of $80. It was Magellan Midstream Partners’ sixth rating update in the last six months. Now, 47.1% of the analysts rate Magellan Midstream Partners as a “buy,” 41.2% rate it as a “hold,” and  11.8% rate it as a “sell.” Magellan Midstream Partners is trading below the low range ($70) of analysts’ target price. Its average target price of $77.3 implies ~12% upside potential from the current price levels.

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