In a new report, Credit Suisse analyst Bhavesh Lodaya initiated coverage on a number of MLPs. Overall, Credit Suisse seems to have a modestly bullish outlook for the space. Here’s what Lodaya had to say about each name.
EQT GP Holdings LP EQGP 3.4% - Outperform
EQT Midstream Partners LP EQM 6.01% - Outperform
Credit Suisse likes EQT’s $3.3 billion organic project backlog in the Northeast, its balance sheet and its “strong parent along with upside from dry Utica.”
Phillips 66 Partners LP PSXP 3.22% - Outperform
Lodaya believes the company is “poised to grab a larger share of the overall organic projects given its growing size and IG balance sheet.” Phillips 66 Partners is the lone upgrade of the bunch, from Neutral to Outperform.
VTTI Energy Partners LP VTTI 3.35% - Outperform
Credit Suisse praises the company’s “fixed, free-based cash flows from [a] geographically diverse asset base.”
Valero Energy Partners LP VLP 3.34% - Neutral
Lodaya’s Neutral rating is…
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