On Jul 2, Zacks Investment Research upgraded
Atlas Energy, L.P.
) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
This natural gas utility delivered positive earnings surprises in
three out of the last four quarters with an average beat of 1.6%.
The long-term sales growth of the company is presently pegged at
Atlas Energy is expected release its second quarter earnings
results in the next month. Our earnings projection for the
quarter is presently pegged at 83 cents, which increased 196.4%
in the last 60 days. This reflects a projected year-over-year
growth rate of 653.3%. Atlas Energy reported both top- and
bottom-line beats in the previous quarter.
The first half of 2013 was quite productive for Atlas Energy. In
the first quarter the partnership registered a 240%
year-over-year increase in total production. The partnership's
presence in resource rich regions and strong performance of its
Atlas Resource Partners, L.P.
) and midstream subsidiary,
Atlas Pipeline Partners, L.P.
) will allow it to sustain this performance in the latter half.
In Jun 2013, Atlas Energy's E&P subsidiary decided to acquire
466 billion cubic feet (Bcf) of gas from a subsidiary of E&P
Energy LLC. In addition, Atlas Energy will also acquire 45
Bcf of proved natural gas reserve from E&P Energy LLC.
These acquisitions will further boost the cash flow of the
partnership. The partnership in fact raised its 2014 distribution
guidance to the range of $2.50 to $2.80 per unit, up 115% from
the current annualized rate of $1.24 per unit.
ATLAS PIPLN PTR (APL): Free Stock Analysis
ATLAS RES PTNRS (ARP): Free Stock Analysis
ATLAS ENERGY LP (ATLS): Free Stock Analysis
CHENIERE ENERGY (CQP): Get Free Report
To read this article on Zacks.com click here.
The Zacks Consensus Estimate for 2013 increased 136.3% in the
last 60 days to $3.38 per share, reflecting a whopping
year-over-year increase of 3,855.6%. The Zacks Consensus Estimate
for 2014 increased 40.8% in the last 60 days to $4.21 per share,
reflecting year-over-year projected growth of 24.6%.
Other Stocks to Consider
Besides Atlas Energy,
Cheniere Energy Partners LP.
) also has a favorable Zacks Rank among others operating in the
industry. Cheniere Energy presently carries a Zacks Rank #1