Barclays Adjusting Numbers on Memorial Production Partners (MEMP); Expect Strong Coverage Ratios
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Price: $0.13 --0%
Rating Summary:
2 Buy, 7 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 7 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on Memorial Production Partners (NASDAQ: MEMP) price target of $21.00.
Analyst, Jeffrey W. Robertson, said, "We are revising our FY12 EBITDA and DCF per unit estimates to $3.15 and $2.40 from $3.00 and $2.30, respectively. We are revising our FY13 EBITDA and DCF per unit estimates to $3.40 and $2.55 from $3.25 and $2.45, respectively. We are revising our FY14 EBITDA and DCF per unit estimates to $3.15 and $2.35 from $3.05 and $2.30, respectively." (FY13 EPS estimate lowered from $2.00 to $1.35)
"We expect MEMP to maintain strong coverage ratios through the remainder of this year and next, which could support steady distribution growth, in our view."
Other tidbits include: 1) mgmt raising FY12 production guidance; 2) $199 million available in credit facility (as of Aug 1) meaning sufficient liquidity; and 3) Q2 distribution ($0.48 per share) unchanged)
For an analyst ratings summary and ratings history on Memorial Production Partners click here. For more ratings news on Memorial Production Partners click here.
Shares of Memorial Production Partners closed at $17.39 yesterday.
Analyst, Jeffrey W. Robertson, said, "We are revising our FY12 EBITDA and DCF per unit estimates to $3.15 and $2.40 from $3.00 and $2.30, respectively. We are revising our FY13 EBITDA and DCF per unit estimates to $3.40 and $2.55 from $3.25 and $2.45, respectively. We are revising our FY14 EBITDA and DCF per unit estimates to $3.15 and $2.35 from $3.05 and $2.30, respectively." (FY13 EPS estimate lowered from $2.00 to $1.35)
"We expect MEMP to maintain strong coverage ratios through the remainder of this year and next, which could support steady distribution growth, in our view."
Other tidbits include: 1) mgmt raising FY12 production guidance; 2) $199 million available in credit facility (as of Aug 1) meaning sufficient liquidity; and 3) Q2 distribution ($0.48 per share) unchanged)
For an analyst ratings summary and ratings history on Memorial Production Partners click here. For more ratings news on Memorial Production Partners click here.
Shares of Memorial Production Partners closed at $17.39 yesterday.
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