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 9.71

+0.15 +1.57%
Volume: 4,931,380
Track EP

EPB 23.72

+0.02 +0.08%
Volume: 242,485
Track EPB

HEP 36.95

+0.25 +0.68%
Volume: 151,290
Track HEP

MGG 23.25

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

OKE 40.18

+0.16 +0.40%
Volume: 859,848
Track OKE

PAA 50.85

+0.25 +0.49%
Volume: 263,246
Track PAA

SEP 27.53

-0.20 -0.72%
Volume: 81,952
Track SEP

SXL 62.00

+0.25 +0.40%
Volume: 79,003
Track SXL


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