Skip to main content

Market Overview

Wunderlich Securities Sees Gulfport Energy's Sale of Blackhawk Midstream Equity Interest as Adding Value

Share:

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $85.00 price target on Gulfport Energy (NASDAQ: 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 closed on Friday at $60.34.

Latest Ratings for GPOR

DateFirmActionFromTo
Aug 2020Morgan StanleyMaintainsUnderweight
Aug 2020Piper SandlerMaintainsUnderweight
May 2020Imperial CapitalMaintainsOutperform

View More Analyst Ratings for GPOR
View the Latest Analyst Ratings

 

Related Articles (GPOR)

View Comments and Join the Discussion!

Posted-In: Jason A. Wangler Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
ICADGuggenheimInitiates Coverage On24.0
SMBKRaymond JamesUpgrades27.0
WNSNeedhamMaintains88.0
EFXNeedhamMaintains260.0
GOOGLJefferiesMaintains2,700.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com