* Q2 net income $37 mln
* Q2 revenue $101.3 million
* Sees FY revenue of about $480 million
* Total Q2 throughput 147.8 bcf natural gas
Sept 7 (Reuters) - Chesapeake Midstream Partners LP posted sequentially higher quarterly profit, helped by strong throughput.
The natural gas limited partnership between Chesapeake Energy Corp and Global Infrastructure Partners posted a 6 percent rise in its second-quarter net income of $37 million.
Total quarterly throughput rose 6 percent to 147.8 billion cubic feet (bcf) of natural gas or 1,624 million cubic feet (mmcf) of natural gas per day.
The company, which treats, compresses and transports natural gas from wellheads to third-party pipelines, said it expects full-year net income of about $200 million, on revenue of about $480 million.
Earlier in the day at least two brokerages started coverage of the partnership.
While Raymond James gave an 'outperform' rating with a price target of $26, Citigroup gave a 'buy' rating with a price target of $28.50.
Shares of the company have gained 11 percent since listing on the New York Stock Exchange on July 29. They closed at a life-high of $25.09 Tuesday.
(Reporting by Vinay Sarawagi in Bangalore; Editing by Roshni Menon) Keywords: CHESAPEAKE/ (vinay.sarawagi@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: vinay.sarawagi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q2 revenue $101.3 million
* Sees FY revenue of about $480 million
* Total Q2 throughput 147.8 bcf natural gas
Sept 7 (Reuters) - Chesapeake Midstream Partners LP posted sequentially higher quarterly profit, helped by strong throughput.
The natural gas limited partnership between Chesapeake Energy Corp and Global Infrastructure Partners posted a 6 percent rise in its second-quarter net income of $37 million.
Total quarterly throughput rose 6 percent to 147.8 billion cubic feet (bcf) of natural gas or 1,624 million cubic feet (mmcf) of natural gas per day.
The company, which treats, compresses and transports natural gas from wellheads to third-party pipelines, said it expects full-year net income of about $200 million, on revenue of about $480 million.
Earlier in the day at least two brokerages started coverage of the partnership.
While Raymond James gave an 'outperform' rating with a price target of $26, Citigroup gave a 'buy' rating with a price target of $28.50.
Shares of the company have gained 11 percent since listing on the New York Stock Exchange on July 29. They closed at a life-high of $25.09 Tuesday.
(Reporting by Vinay Sarawagi in Bangalore; Editing by Roshni Menon) Keywords: CHESAPEAKE/ (vinay.sarawagi@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: vinay.sarawagi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.