Tidewater Midstream and Infrastructure Gets a Buy Rating from Desjardins

By Carrie Williams

Tidewater Midstream and Infrastructure (TSXV: TWM), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Justin Bouchard from Desjardins remains bullish on the stock and has a C$2 price target.

According to TipRanks.com, Bouchard is ranked 0 out of 5 stars with an average return of -4.1% and a 41.7% success rate. Bouchard covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Inter Pipeline Ltd, and Gibson Energy Inc.

Currently, the analyst consensus on Tidewater Midstream and Infrastructure is Moderate Buy and the average price target is C$1.97, representing a 49.2% upside.

In a report released today, AltaCorp Captial also reiterated a Buy rating on the stock with a C$2.25 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 Monday at $1.32.