Wells Fargo Starts Dynagas LNG Partners (DLNG) at Market Perform

September 19, 2016 11:14 AM EDT
Get Alerts DLNG Hot Sheet
Price: $16.39 +0.12%

Rating Summary:
    5 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Wells Fargo initiates coverage on Dynagas LNG Partners (NYSE: DLNG) with a Market Perform rating with a $9-$10 valuation range.

Analyst Michael Webber commented, "We are initiating coverage of Dynagas LNG Partners (DLNG) with a Market Perform rating as we believe DLNG’s risk/reward profile is relatively balanced given its stable LNG carrier-driven cash flow, its 11% distribution yield, and assertive growth profile juxtaposed against its premium valuation (2.0x NAV), lingering macro headwinds, and the optics associated with a private GP/sponsor. DLNG has established itself as an increasingly important LNG player (particularly in the Arctic ice-class market) and continues to slowly gain mindshare within the Marine MLP space. We’re introducing our 2016E and 2017E DCF/Unit of $2.39 and $2.21, our 2016E distribution of $1.69/unit, and a valuation range of $9-10, based on 1.1x-1.3x our DCF-driven NAV estimate of $7.73/share."

For an analyst ratings summary and ratings history on Dynagas LNG Partners click here. For more ratings news on Dynagas LNG Partners click here.

Shares of Dynagas LNG Partners closed at $15.12 yesterday.

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