Analysts’ Weekly Ratings Changes for Access Midstream Partners (ACMP)
Several investment firms have updated their stock ratings and price targets on shares of Access Midstream Partners (NYSE: ACMP) in the last week:
- Access Midstream Partners had its price target raised by analysts at Credit Suisse from $67.00 to $75.00. They now have an “outperform” rating on the stock.
- Access Midstream Partners had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $70.00 price target on the stock, up previously from $68.00.
- Access Midstream Partners was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating. They now have a $65.00 price target on the stock. They wrote, “We are not saying the ultimate ACMP/WPZ merger will not end up well for ACMP unitholders in the long-run – we just think it will take some time for the market to digest the trade-offs between somewhat lower business risk and a higher up-front yield, but an eventual lower growth rate. The potentially merged ACMP/WPZ entities would have scale and opportunities within interstate natural gas pipeline (legacy WPZ) and natural gas gathering & processing (both legacy ACMP and WPZ) in basins like the Marcellus and Utica. “Coincident with the merger announcement, WPZ moderately lowered its 2014 guidance on delays in the Geismar restart, higher associated costs and questions over WPZ’s ultimate Geismar insurance recoveries are not helpful in whetting ACMP investor appetite for combining with WPZ, in our view. The aforementioned issues should prove transitory but also are another misstep from WPZ after the partnership revised guidance lower on multiple prior occasions.”
- Access Midstream Partners had its price target raised by analysts at Wunderlich from $64.00 to $77.00. They now have a “buy” rating on the stock. They wrote, “Access Midstream Partners, L.P (ACMP) announced on June 15, 2014, a proposal regarding a possible merger transaction involving the Partnership and Williams Partners L.P. (WPZ-NR). “The ACMP-WPZ merger would effectively be completed in a unit-for-unit exchange at a ratio of 0.85 ACMP units per WPZ unit. The merged MLP is expected to have an increase in 2015 distributions of at least 25% above ACMP’s current 2015 distribution guidance. The expected increase in 2016 distributions is at least 20% above ACMP’s current 2016 distribution guidance. The combined partnerships will have above average distribution growth of 10%-12% in 2016 and 2017. We are raising our price target for ACMP from $64 to $77 based on the assumption that the merger would consummate.”
- Access Midstream Partners was downgraded by analysts at Ladenburg Thalmann from a “buy” rating to a “neutral” rating.
- Access Midstream Partners had its price target raised by analysts at Raymond James from $64.00 to $69.00.
Access Midstream Partners LP (NYSE:ACMP) traded down 0.63% on Friday, hitting $61.11. The stock had a trading volume of 1,528,808 shares. Access Midstream Partners LP has a one year low of $44.75 and a one year high of $66.71. The stock’s 50-day moving average is $61.4 and its 200-day moving average is $57.28. The company has a market cap of $11.583 billion and a price-to-earnings ratio of 56.84.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, LLC. (NYSE:ACMP), owns, operates, develops and acquires natural gas, natural gas liquids (NGLs) and oil gathering systems and other midstream energy assets.
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