In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $85.00 price target on Gulfport Energy Corporation GPOR.
In the report, Wunderlich Securities noted, “Last week Gulfport Energy (GPOR) announced that Blackhawk Midstream LLC, an entity that is 50% owned by Gulfport, has entered into an agreement to sell its equity interest in Ohio Gathering LLC for $190 million. Ohio Gathering is currently owned by MarkWest Energy Partners LP (MWE-NR) and Blackhawk Midstream. The company owns, operates and is developing significant midstream infrastructure in the core of the Utica consisting of liquids-rich and dry gas gathering systems, condensate stabilization storage and terminating facility. Essentially simultaneously, MarkWest announced that it has formed a joint venture with Gulfport and signed definitive agreements to develop and expand condensate solutions in the Utica. These moves should add nice cash and midstream availability.”
Gulfport Energy Corporation closed on Friday at $60.34.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in