Boenning & Scattergood Starts GreenHunter Energy (GRH) at Outperform
Tweet Send to a FriendGet Alerts GRH Hot Sheet
Price: $1.11 +0.91%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade GRH Now!
Boenning & Scattergood initiates coverage on GreenHunter Energy (NYSE: GRH) with a Outperform. PT $3.00.
The firm comments, "Green Hunter Energy, through its main subsidiary Green Hunter Water (GHW), is focused on providing water, fluid and environmental services to the quickly growing unconventional E&P sector. GRH focuses on higher return assets, such as salt water disposal (SWD) wells, to enter the market, and then the company builds assets and services around these wells, such as trucking, storage, recycle and reuse. We are firm believers that multiple services and methods of disposal will be necessary to become a successful service provider. GRH currently operates in major shale plays with Appalachia representing the largest and most coordinated one. Recent acquisitions in the Eagle Ford will expand its operations in that region. Revenues and earnings growth will be driven by continued expansion of services in all plays, acquisitions and utilization of assets including SWD and trucking. We anticipate GRH generating $8.04 million of adjusted EBITDA in 2013 and $16.76 million in 2014. Our target is predicated on 10x our 2014 EBITDA estimate, discounted back to present. The multiple takes into account the well positioned assets and high growth of the industry."
For an analyst ratings summary and ratings history on GreenHunter Energy click here. For more ratings news on GreenHunter Energy click here.
Shares of GreenHunter Energy closed at $1.59 yesterday, with a 52 week range of $0.92-$3.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "Green Hunter Energy, through its main subsidiary Green Hunter Water (GHW), is focused on providing water, fluid and environmental services to the quickly growing unconventional E&P sector. GRH focuses on higher return assets, such as salt water disposal (SWD) wells, to enter the market, and then the company builds assets and services around these wells, such as trucking, storage, recycle and reuse. We are firm believers that multiple services and methods of disposal will be necessary to become a successful service provider. GRH currently operates in major shale plays with Appalachia representing the largest and most coordinated one. Recent acquisitions in the Eagle Ford will expand its operations in that region. Revenues and earnings growth will be driven by continued expansion of services in all plays, acquisitions and utilization of assets including SWD and trucking. We anticipate GRH generating $8.04 million of adjusted EBITDA in 2013 and $16.76 million in 2014. Our target is predicated on 10x our 2014 EBITDA estimate, discounted back to present. The multiple takes into account the well positioned assets and high growth of the industry."
For an analyst ratings summary and ratings history on GreenHunter Energy click here. For more ratings news on GreenHunter Energy click here.
Shares of GreenHunter Energy closed at $1.59 yesterday, with a 52 week range of $0.92-$3.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Topeka Capital Starts RDA Microelectronics (RDA) at Buy
- GreenHunter Energy To Present At The Second Annual Marcum LLP MicroCap Conference
- Hewlett-Packard (HPQ) Q2 Performance Wins Praise on Wall Street; Jefferies Raises to Hold
Create E-mail Alert Related Categories
New CoverageRelated Entities
Boenning & Scattergood, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
