In a report published Monday, Stifel analyst Brian Brungardt Jr. reiterated a Buy rating on New Source Energy Partners LP (NYSE: NSLP), but lowered the price target from $28.00 to $26.00.
In the report, Stifel noted, “We are transferring coverage of New Source Energy Partners L.P. (NSLP) from our colleague Dan Guffey, maintaining our Buy rating, and lowering our target price to $26 from $28. We believe investors stand to benefit from management's focus on growing both the upstream and oilfield services business. With the November 2013 acquisition of Mid-Central Energy Services and subsequent acquisitions, the partnership diversified its business mix. Unitholders stand to benefit, in our opinion, from its 98% success rate in drilling in the mature Hunton formation as well as the expanding demand for oilfield services as production increasingly comes from horizontal wells.”
NSLP has been on my "To Do List" for months. I will assign it to one of our top SMU interns and we will publish a profile on it this month.
Annual yield is over 10%.
NSLP for High Yield
NSLP for High Yield
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group