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 9.50

-0.03 -0.31%
Volume: 11,018,925
Track EP

EPB 23.49

+0.04 +0.17%
Volume: 196,126
Track EPB

HEP 37.10

+0.04 +0.11%
Volume: 64,000
Track HEP

MGG 23.25

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

OKE 40.79

+0.25 +0.62%
Volume: 457,321
Track OKE

PAA 50.43

+0.00 +0.00%
Volume: 225,303
Track PAA

SEP 27.50

+0.07 +0.26%
Volume: 67,873
Track SEP

SXL 61.85

+0.02 +0.03%
Volume: 31,688
Track SXL


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