UPDATE: Barclays Starts Northern Teir Energy Inc (NTI) at Equalweight; Let's Meet In The Middle

(Updated - September 4, 2012 1:06 PM EDT)

Barclays initiates coverage on Northern Teir Energy Inc (NYSE: NTI) with an Equalweight. PT $20.00.

Analyst, Richard Gross, said, "NTI is the first variable distribution MLP in our coverage universe. In our view, variable distribution MLPs offer a distinct and separate value proposition from the traditional Minimum Quarterly Distribution (MQD), subordinated, IDR structure with distribution coverage and balance sheet cushion to handle modest variability in cash flow."

"Risks to our estimates include sustained refining margin weakness and disruptions at its single asset facility...Refining margin weakness would reduce cash flows and combining the variable distribution structure may potentially result in no distribution."

For an analyst ratings summary and ratings history on Northern Teir Energy Inc click here. For more ratings news on Northern Teir Energy Inc click here.

Shares of Northern Teir Energy Inc closed at $18.30 yesterday.

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