uploads///EQM

WES, EQM, and CEQP among Gathering MLPs on Barclays Radar

By

Nov. 20 2020, Updated 1:50 p.m. ET

Western Gas Partners

Barclays downgraded Western Gas Partners (WES) to “equal weight” from “overweight” last week. Now, 52.6% of analysts rate WES a “buy,” and the remaining 47.4% rate it a “hold.” WES’s general partner Western Gas Equity Partners (WGP) was also downgraded at Barclays last week. WES’s average target price of $57.6 implies ~7% upside potential from the current price levels.

Article continues below advertisement

EQT Midstream Partners

EQT Midstream Partners (EQM) saw a downward target price revision from Barclays last week. It lowered EQM’s target price to $85 from $90. Moreover, Stifel resumed coverage on EQM with a “buy” rating and assigned a target price of $90. 83.3% of analysts surveyed by Reuters rate EQM a “buy,” while the remaining 16.7% rate it a “hold.” EQM’s average target price of $88.3 implies ~14% upside potential from the current price levels.

Crestwood Equity Partners

Crestwood Equity Partners (CEQP) saw a rating upgrade and price target revision from Barclays last week. It upgraded CEQP to equal weight from underweight, which is equivalent to “sell,” and increased the partnership’s target price to $30 from $25. Before this, Wells Fargo upgraded CEQP to “outperform” from “market perform.”

55.6% of analysts surveyed by Reuters rate CEQP a “buy,” and the remaining 44.4% rate it a “hold.” CEQP is currently trading close to the average target price of $28.9.

Article continues below advertisement

Antero Midstream Partners

Barclays cut the target price of Antero Midstream Partners (AM) to $37 from $40 last week. On the other hand, Raymond James increased AM’s target price to $36 from $34. Moreover, Stifel initiated coverage on AM with a “buy” rating and assigned a target price of $37. 100% of analysts rate Antero Midstream Partners a “buy.” AM is currently trading at $35, which is below the low end of analysts’ target price range. AM’s average target price of $38.2 implies ~16% upside potential from the current price levels.

CNX Midstream Partners

CNX Midstream Partners (CNXM), formerly Cone Midstream Partners, saw an upward target price revision from Barclays last week. It increased CNXM’s target price to $24 from $22. Moreover, Stifel initiated coverage on CNXM with a “buy” rating and assigned a target price of $22. 80.0% of analysts rate CNXM a “buy,” and the remaining 20% rate it a “hold.” Its average target price of $23.2 implies ~17% upside potential from the current price levels.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.