Barclays Maintains an 'Equalweight' on Copano Energy (CPNO); Q3 In-line, Project Activity Remains Strong

Barclays maintains an 'Equalweight' on Copano Energy (NASDAQ: CPNO) price target of $34.00.

Barclays analyst says, "Q3 results largely in-line: Coverage reached 95%, which was slightly down from Q2 of 97% but improved vs. 93% prior year. The sequential decline was due to lower segment margins driven by commodity price declines in Oklahoma, downstream constraints in Texas (Formosa plant/purity ethane line), and lower Rockies margin. On a YoY basis, Texas margin jumped 43%, while Oklahoma increased 21%. Texas segment benefited from higher Eagle Ford and Barnett Combo volumes and NGL prices. Oklahoma benefited from higher YoY prices and volumes."

For an analyst ratings summary and ratings history on Copano Energy click here. For more ratings news on Copano Energy click here.

Shares of Copano Energy closed at $31.72 yesterday.

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