uploads///anr

MLP Rating Updates during the Week Ending March 2

By

Mar. 6 2018, Published 10:09 a.m. ET

CrossAmerica Partners

CrossAmerica Partners (CAPL), the MLP mainly involved in wholesale distribution of refined products, saw several target price revisions and a rating update last week. The changes came after the partnership’s 4Q17 earnings announcement. The partnership announced an adjusted EBITDA of $28.6 million in 4Q17 compared to $27.2 million in 4Q16, which represents marginal growth of 5.1% YoY. Last week, CrossAmerican Partners’ rating changes included:

  • Jefferies reduced the target price to $28 from $29.
  • Raymond James reduced the target price to $29 from $30.
  • Baird lowered the partnership to “neutral,” which is equivalent to “hold.” Baird cut the target price to $26 from $33.

Now, 50% of the analysts surveyed by Reuters rate CrossAmerican Partners as a “buy,” while 50% rate it as a “hold.” Sunoco LP (SUN) has a “hold” rating from 58.8% of the analysts.

Currently, CrossAmerica Partners is trading below the low range ($26) of analysts’ target price. The partnership’s average target price of $27.9 implies ~21% upside potential from the current price levels.

Article continues below advertisement

Spectra Energy Partners

Mizuho initiated coverage on Spectra Energy Partners (SEP) with a “neutral” rating last week. Mizuho assigned Spectra Energy Partners a target price of $43. Of the analysts, 42.1% rate Spectra Energy Partners as a “buy,” 42.1% rate it as a “hold,” and 15.8% rate it as a “sell.” Spectra Energy Partners is trading close to the low range ($39) of analysts’ target price. Spectra Energy Partners’ average target price of $46.1 implies ~18% upside potential from the current price levels.

For an earnings roundup of the top MLPs, read A Quarterly Earnings Roundup for Master Limited Partnerships.

Advertisement

More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market RealistLogo
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.