Goldman Sachs Upgrades EPB, SEP; Downgrades PAA, SXL

June 22, 2009 7:15 AM EDT

Goldman Sachs makes several changes in the Energy MLP and GP MLP price targets.

The firm upgrades El Paso Pipeline Partners, L.P. (NYSE: EPB) from Neutral to Buy and reiterates Holly Energy Partners L.P (NYSE: HEP) as their Top Pick in the sector. The firm continues to prefer early-cycle, commodity-exposed Diversified Pipelines like El Paso Corp. (NYSE: EP) and ONEOK Inc. (NYSE: OKE).

The firm also upgraded Spectra Energy Partners, LP (NYSE: SEP) from Sell to Neutral.

The firm downgraded Plains All American Pipeline LP (NYSE: PAA) from Neutral to Sell and downgraded Sunoco Logistics Partners LP (NYSE: SXL) from Neutral to Sell.

The firm maintains their Attractive rating on GP MLP's and raises their price target by 13% on average. Their top pick continues to be Magellan Midstream Holdings, L.P. (NYSE: MGG).


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Stocks Mentioned

EP 10.13

-0.01 -0.10%
Volume: 4,797,216
Track EP

EPB 22.43

-0.45 -1.97%
Volume: 173,436
Track EPB

HEP 36.28

-0.22 -0.60%
Volume: 69,891
Track HEP

MGG 23.25

+0.00 +0.00%
Volume: 690,053
Track MGG

OKE 38.85

+0.34 +0.88%
Volume: 210,783
Track OKE

PAA 49.63

+0.02 +0.04%
Volume: 171,100
Track PAA

SEP 26.70

-0.43 -1.58%
Volume: 78,841
Track SEP

SXL 58.51

-0.03 -0.05%
Volume: 27,569
Track SXL


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