Wells Fargo Starts Inergy Midstream, L.P. (NRGM) at Outperform; Positive Long-Term Outlook

Wells Fargo initiates coverage on Inergy Midstream, L.P. (NYSE: NRGM) with an Outperform. PT $24.00.

Wells analyst says, "Our long-term outlook for NRGM is positive based on the partnership's long-term fixed-fee based contracts with no direct commodity price exposure, conservative balance sheet, favorable asset location, visible distribution growth given current growth spending plans and the potential for future growth opportunities including likely acquisitions via drop downs from NRGY. Based on a balance of risk and return from these items and given the indicated current yield, we rate the units of NRGM Outperform. Approximately 80% of the distribution is estimated to be tax deferred for new unitholders."

For an analyst ratings summary and ratings history on Inergy Midstream, L.P. click here. For more ratings news on Inergy Midstream, L.P. click here.

Shares of Inergy Midstream, L.P. closed at $19.51 yesterday.

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