UPDATE: Citi Cuts a Number of MLPs with Crude and Nat-Gas Storage Exposure

April 16, 2013 7:55 AM EDT
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(Updated - April 16, 2013 8:55 AM EDT)

Citi analyst John Tysseland hit the brakes on number of MLPs. Most stocks in the sector have outperformed year-to-date and he expects a pause in crude-exposed names, which may see margin compression in the second half of the year. Nat-gas storage-exposed names were also downgraded, as Tysseland sees uncertainly in margins and transportation rates.

Crude-related names Rose Rock Midstream, L.P. (NYSE: RRMS), and Sunoco Logistics Partners L.P. (NYSE: SXL) were downgraded to Neutral.

Nat-gas related PAA Natural Gas Storage, L.P. (NYSE: PNG) and Spectra Energy Partners, LP (NYSE: SEP) were taken to Neutral. Niska Gas Storage Partners (NYSE: NKA) and TC PipeLines, LP (NYSE: TCP) were cut to Sell.

For an analyst ratings summary and ratings history on TC Pipelines (NYSE: TCP click here. For more ratings news on TC Pipelines click here.

Shares of TC Pipelines closed at $48.78 yesterday.

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