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 10.14

+0.24 +2.42%
Volume: 8,418,899
Track EP

EPB 22.88

+0.38 +1.69%
Volume: 207,700
Track EPB

HEP 36.50

+0.06 +0.16%
Volume: 146,338
Track HEP

MGG 23.25

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

OKE 38.51

+0.89 +2.37%
Volume: 453,329
Track OKE

PAA 49.61

+0.66 +1.35%
Volume: 390,615
Track PAA

SEP 27.13

+0.57 +2.15%
Volume: 69,065
Track SEP

SXL 58.54

+0.34 +0.58%
Volume: 68,291
Track SXL


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