Amerigas Partners Lp (APU), Joy Global Inc. (JOY), Norfolk Southern Corp. (NSC), Rose Rock Midstream (RRMS), LSI Co. (LSI), Invesco Mortgage Capital (IVR) and Level 3 (LVLT) had ratings and price targets on them adjusted by analysts.
Janney Montgomery Scott downgraded Amerigas Partners Lp (APU) from a "Buy" rating to a "Neutral" rating.
UBS AG downgraded Joy Global Inc. (JOY) from a "Buy" rating to a "Neutral" rating.
Barclays Capital downgraded Norfolk Southern Corp. (NSC) to an "Equal Weight" rating.
Robert W. Baird downgraded Rose Rock Midstream (RRMS) from a "Outperform" rating to a "Neutral" rating. They have a price target of $25.00 on the company.
Credit Agricole downgraded LSI Co. (LSI) to a "Sell" rating.
FBR Capital upgraded Invesco Mortgage Capital (IVR) to a "Market Perform" rating.
Bank of America upgraded Level 3 (LVLT) to a "Buy" rating.
Showing posts with label AmeriGas Partners. Show all posts
Showing posts with label AmeriGas Partners. Show all posts
Thursday, March 15, 2012
Friday, October 22, 2010
Citigroup (NYSE:C) Sees AmeriGas (NYSE:APU) Tops for Distribution Growth in Sector
Citigroup Inc. (NYSE:C) said they believe AmeriGas Partners, LP (NYSE:APU) should be the leader in distribution growth in the sector going forward. They maintain a "Hold" rating on the propane company.
Citigroup's John K. Tysseland said, "We are maintaining our Hold...rating for APU based on valuation, but believe the partnership is likely to have the best distribution growth in the sector and continues to be an active consolidator. We would consider buying APU, all things being equal, on a significant pullback in the unit price. We are increasing our target price to $49 from $40."
Concerning earnings projections for 2010-2011, AmeriGas said in a press release, "The Partnership expects to report net income attributable to AmeriGas Partners of approximately $165 million for its fiscal year ended September 30, 2010. Adjusted earnings before interest expense, income taxes, depreciation and amortization excluding the impacts of a previously reported $12.2 million loss related to the termination of interest rate protection agreements and an additional $7.0 million litigation reserve recorded during the fiscal year 2010 fourth quarter (Adjusted EBITDA), are expected to be approximately $340 million for fiscal 2010."
AmeriGas closed Thursday at $46.56, gaining $0.02, or 0.04 percent.
Citigroup's John K. Tysseland said, "We are maintaining our Hold...rating for APU based on valuation, but believe the partnership is likely to have the best distribution growth in the sector and continues to be an active consolidator. We would consider buying APU, all things being equal, on a significant pullback in the unit price. We are increasing our target price to $49 from $40."
Concerning earnings projections for 2010-2011, AmeriGas said in a press release, "The Partnership expects to report net income attributable to AmeriGas Partners of approximately $165 million for its fiscal year ended September 30, 2010. Adjusted earnings before interest expense, income taxes, depreciation and amortization excluding the impacts of a previously reported $12.2 million loss related to the termination of interest rate protection agreements and an additional $7.0 million litigation reserve recorded during the fiscal year 2010 fourth quarter (Adjusted EBITDA), are expected to be approximately $340 million for fiscal 2010."
AmeriGas closed Thursday at $46.56, gaining $0.02, or 0.04 percent.
Friday, October 15, 2010
Wells Fargo (NYSE:WFC) on AmeriGas (NYSE:APU), Ferrellgas (NYSE:FGP), Suburban (NYSE:SPH) and Inergy, L.P. (Nasdaq:NRGY)
Although Wells Fargo (NYSE:WFC) likes the Propane MLPs sector in general, like other MLPs subsectors, companies like AmeriGas Partners (NYSE:APU), Ferrellgas Partners (NYSE:FGP), Suburban Propane Partners, L.P. (NYSE:SPH) and Inergy, L.P. (Nasdaq:NRGY) are mixed in their outlook.
Wells said, "We are increasing valuation range for APU to $39 to $41 from $36 to $38 and adjusting our DCF estimates for AmeriGas Partners and Ferrellgas Partners. We are downgrading Suburban Propane Partners, L.P. to Market Perform from Outperform based on valuation. Our top Outperform pick in this subsector is Inergy, L.P."
AmeriGas Partners closed Thursday at $46.10, losing $0.04, or 0.09 percent. Ferrellgas Partners ended up at $25.97, gaining $0.09, or 0.35 percent. Suburban Propane Partners closed down to $55.72, falling $0.77, or 1.36 percent. Favorite Inergy closed up at $41.37, gaining $0.17, or 0.41 percent.
Wells said, "We are increasing valuation range for APU to $39 to $41 from $36 to $38 and adjusting our DCF estimates for AmeriGas Partners and Ferrellgas Partners. We are downgrading Suburban Propane Partners, L.P. to Market Perform from Outperform based on valuation. Our top Outperform pick in this subsector is Inergy, L.P."
AmeriGas Partners closed Thursday at $46.10, losing $0.04, or 0.09 percent. Ferrellgas Partners ended up at $25.97, gaining $0.09, or 0.35 percent. Suburban Propane Partners closed down to $55.72, falling $0.77, or 1.36 percent. Favorite Inergy closed up at $41.37, gaining $0.17, or 0.41 percent.
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