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Sunoco Boasts Best Deal Team In The Game; Citi Upgrades
Tuesday, April 25, 2017 - 9:16am | 447Read More...Borrowing a catchphrase from President Donald Trump, Faisel Khan of Citi upgraded shares of Sunoco LP (NYSE: SUN) from Sell to Neutral with a price target boosted from $22 to $29 due to the "art of the deal." Faisel referenced a deal Sunoco struck with the convenience store chain Seven-11 in which...
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Citi Upgrades Ferrellgas Partners, Sees 'Sufficient Value' In Company's Propane Business
Wednesday, November 2, 2016 - 8:11am | 338Read More...Ferrellgas Partners, L.P. (NYSE: FGP) is one of the largest distributors of propane and related accessories and serves around one million residential, commercial, industrial and agricultural customers across all 50 states and also operates a crude oil logistics business. In a report published...
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Noble Midstream Could Grow Its Distributions By 20% Annually Through 2020
Monday, October 10, 2016 - 10:43am | 367Read More...Mentioning that Noble Midstream Partners LP (NYSE: NBLX) was almost exclusively dependent on its general partner for oil and gas production, Citi’s Faisel Khan stated that the company would grow its distributions by 20 percent per annum through 2020. Khan initiated coverage of the company...
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Citi Has Concerns With Sunoco's Leverage, Coverage
Friday, September 23, 2016 - 9:06am | 332Read More...Citi has started coverage of Sunoco LP (NYSE: SUN) with a Neutral rating and a $30 price target, saying the double digit yield is offset by above average leverage and thin coverage. The brokerage said the leverage of Sunoco, a distributor of motor fuel products, currently stands at 5.2x on an...
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Citi Cuts Ferrellgas Partners To Sell Amid High Leverage Concerns
Tuesday, September 13, 2016 - 9:00am | 291Read More...Ferrellgas Partners, L.P. (NYSE: FGP) has high leverage and low coverage at yearend FY16. With “little room to maneuver,” the company may “ultimately be forced” to cut its distribution, Citi’s Faisel Khan said in a report. He downgraded the rating on Ferrellgas...
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Citigroup Assumes Buy Coverage On Plains All American LP, Positive Outlook On Co Deleveraging
Tuesday, August 16, 2016 - 11:20am | 304Read More...With deleveraging underway, a number of issues are likely to be resolved at both Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP Holdings LP (NYSE: PAGP), Citigroup’s Faisel Khan said in a report. He resumed coverage of both with Buy ratings. The price target for Plains All...
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Citi Resumes Coverage Of Williams Companies, Williams Partners
Friday, July 22, 2016 - 11:34am | 356Read More...Citi has resumed coverage of Williams Companies Inc (NYSE: WMB) and Williams Partners LP (NYSE: WPZ) with Neutral ratings. The brokerage expects expect Williams Partners to cut its distribution to $0.50/quarter, and Williams Companies to cut its dividend to $0.20/quarter, which represent...
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Tesoro Upgraded For Third Time In A Month
Tuesday, July 19, 2016 - 8:40am | 324Read More...Gasoline crack spreads grew in Q2, driven by record gasoline demand and increased diesel demand. Citi’s Faisel Khan upgraded the rating on Tesoro Corporation (NYSE: TSO) from Neutral to Buy, while lowering the price target from $92.50 to $92.00, following the recent pullback in the stock....
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Genesis Energy Gets First Upgrade In Almost 1 Year By Citi
Friday, July 1, 2016 - 10:39am | 253Read More...Genesis Energy, L.P. (NYSE: GEL) is an "underappreciated growth story," Citi said, while upgrading the stock to Buy from Neutral. "We believe GEL offers investors an underappreciated growth story driven by a visible ramp in its deepwater Gulf of Mexico pipelines and organic investments in its...
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Market Developments Good For EnLink
Monday, June 27, 2016 - 10:27am | 335Read More...Citi Research believes market developments are good for EnLink Midstream LLC (NYSE: ENLC), as acreage is expected to witness an increased rig activity. The brokerage maintains its Buy rating while boosting its price target to $19 from $18. Citi analysts Mirek Zak and Faisel Khan told their clients...
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Citi Downgrades USD Partners To Neutral, Cites Near-Term Stable, Long-Term Risky
Thursday, May 26, 2016 - 9:39am | 393Read More...Citi has downgraded USD Partners LP (NYSE: USDP) to Neutral from Buy on valuation, and said the near-term operations are stable, but the long-term looks risky. However, Citi maintains its target price at $10.50. USD Partners LP is a master limited partnership that acquires, develops and operates...
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3 More MLPs Hit By Wall Street; Citi Analysts See Challenging Spring
Monday, March 21, 2016 - 10:19am | 578Read More...Citi’s Faisel Khan said that upstream MLPs are likely to continue to face “an extremely challenging 2016 with low liquidity and high levels of debt.” He expects upstream MLPs to exit 1Q with an average of around 80 percent drawn on their bank credit facilities. A majority of the...
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Citi Cuts Summit Midstream, Says Growth Looks Challenged
Thursday, March 10, 2016 - 10:17am | 261Read More...Citi’s Faisel Khan downgraded the rating for Summit Midstream Partners LP (NYSE: SMLP) from Buy/High Risk to Neutral/High Risk, while reducing the price target from $22 to $16.50. The analyst believes that the company has limited ability to grow distributions while maintaining its leverage...
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Citi Downgrades Refiners: What You Should Know
Wednesday, October 21, 2015 - 11:10am | 474Read More...Citi has downgraded a handful of U.S. refiner stocks based on shrinking differentials and falling production. The firm maintains Buy ratings on several names in the space. Citi predicts a $4.50/bbl WTI/Brent differential in 2016. Earnings season for U.S. refiners is kicking off soon, and Citi...
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UPDATE: Citigroup Resumes Coverage On Kinder Morgan On Fair Valuation
Tuesday, January 13, 2015 - 10:13am | 181Read More...In a report published Tuesday, Citigroup analyst Faisel Khan resumed coverage on Kinder Morgan Inc (NYSE: KMI) with a Neutral rating, down from Buy, and $45.00 price target, up from $42.00. In the report, Citigroup noted, “We are resuming coverage on KMI with a Neutral rating, previously a Buy. We...
