UPDATE - Barclays Reinstates Coverage on Inergy (NRGY) at Equalweight; Favors Overweight-rated Inergy Midstream (NRGM)

UPDATE - Barclays reinstates coverage on Inergy (NYSE: NRGY) with an Equalweight. PT $24.00.

Shares of NRGY are trading up about 1.5% today, however, the stock has dropped significantly over the past year. Although, the company did spin-off Inergy Midstream (Nasdaq: NRGM) back in Dec. 2011 and those shares have been moving higher since the IPO. (NRGM shares are up about 1.5% today as well)

Barclays analyst, Richard Gross, said, "While NRGY appears cheap at a 12.7% yield, we believe units will be range bound near term due to uncertainty surrounding whether there will be a distribution trim or not."

Gross recommends NRGM (Overweight rated), citing stable cash flow and good assets in Marcellus shale.

To see more ratings on NRGY, Click Here

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