GMP FirstEnergy Keeps a Hold Rating on Tidewater Midstream and Infrastructure

By Ryan Adsit

Tidewater Midstream and Infrastructure (TSXV: TWM), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Ian Gillies from GMP FirstEnergy rated Tidewater Midstream and Infrastructure (TSXV: TWM) a Hold, setting a C$1.85 price target.

Gillies has an average return of 1.9% when recommending Tidewater Midstream and Infrastructure.

According to TipRanks.com, Gillies is ranked #2310 out of 4572 analysts.

Currently, the analyst consensus on Tidewater Midstream and Infrastructure is Moderate Buy and the average price target is C$1.98, representing a 44.5% upside.

In a report released today, RBC Capital also reiterated a Hold rating on the stock with a C$1.80 price target.

Based on Tidewater Midstream and Infrastructure’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$38.88 million and quarterly net profit of C$3.68 million. In comparison, last year the company earned revenue of C$18.34 million and had a net profit of C$5.91 million.

Tidewater Midstream & Infrastructure Ltd. engages in purchasing, selling and transportation of natural gas liquids throughout North America and export to overseas markets. The company also engages in the acquisition and development of oil and gas infrastructure, including gas plants, pipelines, NGLs by rail, export terminals and storage facilities. Its midstream and infrastructure activities include gathering, processing and transportation, marketing and extraction of natural gas and NGL. The company was founded on February 4, 2015 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $1.37.