CORAL GABLES, FLORIDA, Feb. 7, 2013 (GLOBE NEWSWIRE) -- Guzman & Company, a boutique investment bank specializing in the energy and power industries announced today that it has initiated research coverage of several companies in the Upstream Master Limited Partnerships (MLPs) sector.
The Coral Gables- based investment bank's initial ratings are positive based on the relatively high yield of the upstream MLPs combined with their extensive opportunities to make accretive acquisitions. According to Hinds Howard, MLP Senior Analyst at Guzman & Company, "Upstream MLPs are buyers of domestic, mature producing oil and natural gas properties in a buyer's market for such properties. We like the rollup story, especially when it is accompanied by yields of more than 8.5% and in some cases more than 10%." Mr. Howard initiated coverage on the following five MLPs:
- Atlas Resource Partners (ARP) with an OUTPERFORM rating and a $27.00 price target
- Eagle Rock Energy Partners (EROC) with an OUTPERFORM rating and a $10.50 price target
- Memorial Production Partners (MEMP) with an OUTPERFORM rating and a $21.00 price target
- QR Energy (QRE) with an OUTPERFORM rating and a $21.00 price target
- Vanguard Natural Resources (VNR) with an OUTPERFORM rating and a $31.00 price target
Each company is discussed in detail in the initiation reports released this morning by Guzman & Company.
"We are pleased to launch coverage of the MLP sector with these initial high-yield, acquisitive MLPs. We are excited about the opportunity to share our in-house MLP expertise with a broader audience, and build on our equity capabilities," said Leo Guzman, President. "We will significantly expand our MLP coverage in 2013 to include coverage of midstream MLPs and MLP general partner holding companies."
About Guzman & Company
Founded in 1987, Guzman & Company is a boutique investment bank and institutional brokerage firm committed to delivering superior service to clients. Guzman & Company provides top-ranked, agency-only program and block equity trading, fixed income trading, underwriting and analytics, to the nation's leading institutions. The company brings extensive expertise in investment technologies, liquidity sourcing and execution management, together with global reach and entrepreneurial spirit. For more than 25 years, Guzman & Company has fostered strong long-term relationships with clients and proactively anticipated their needs. For more information visit the company's website at www.guzman.com.