UPDATE: UBS Downgrades Pioneer Southwest Energy Partners L.P. (PSE) to Sell; More Risk Than Reward - Favor LINE & LGCY
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Price: $33.64 --0%
Rating Summary:
1 Buy, 2 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 9 | New: 13
Rating Summary:
1 Buy, 2 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 9 | New: 13
Trade PSE Now!
(Updated - August 28, 2012 9:50 AM EDT)
UBS downgraded Pioneer Southwest Energy Partners L.P. (NYSE: PSE) from Neutral to Sell. PT unchanged at $24.
Analyst, Christopher P. Sighinolfi, said, "PSE enjoys a portfolio of long-lived, slow decline assets, an oil-directed drilling program, balanced commodity exposure, and a close affiliation with Pioneer Natural Resources (NYSE: PXD). Its steady performance through varied market conditions underscores the benefits of its asset profile. However, PSE’s relatively weak hedge profile, tight coverage ratio, limited distribution growth history, and sub-8% yield leave us cautious at current levels; hence, we are downgrading to Sell on valuation."
"In the E&P MLP space, we continue to favor Linn Energy (Nasdaq: LINE) & Legacy Reserves (Nasdaq: LGCY) given stronger hedge profiles, higher coverage ratios, and mgmts’ commitment to distribution growth."
For an analyst ratings summary and ratings history on Pioneer Southwest Energy Partners L.P. click here. For more ratings news on Pioneer Southwest Energy Partners L.P. click here.
Shares of Pioneer Southwest Energy Partners L.P. closed at $26.42 yesterday, with a 52 week range of $21.34-$31.73.
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UBS downgraded Pioneer Southwest Energy Partners L.P. (NYSE: PSE) from Neutral to Sell. PT unchanged at $24.
Analyst, Christopher P. Sighinolfi, said, "PSE enjoys a portfolio of long-lived, slow decline assets, an oil-directed drilling program, balanced commodity exposure, and a close affiliation with Pioneer Natural Resources (NYSE: PXD). Its steady performance through varied market conditions underscores the benefits of its asset profile. However, PSE’s relatively weak hedge profile, tight coverage ratio, limited distribution growth history, and sub-8% yield leave us cautious at current levels; hence, we are downgrading to Sell on valuation."
"In the E&P MLP space, we continue to favor Linn Energy (Nasdaq: LINE) & Legacy Reserves (Nasdaq: LGCY) given stronger hedge profiles, higher coverage ratios, and mgmts’ commitment to distribution growth."
For an analyst ratings summary and ratings history on Pioneer Southwest Energy Partners L.P. click here. For more ratings news on Pioneer Southwest Energy Partners L.P. click here.
Shares of Pioneer Southwest Energy Partners L.P. closed at $26.42 yesterday, with a 52 week range of $21.34-$31.73.
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