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

-0.29 -2.96%
Volume: 3,609,905
Track EP

EPB 23.38

+0.09 +0.39%
Volume: 80,922
Track EPB

HEP 36.71

-0.11 -0.30%
Volume: 21,508
Track HEP

MGG 23.25

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

OKE 39.68

-0.68 -1.68%
Volume: 137,277
Track OKE

PAA 50.87

+0.23 +0.45%
Volume: 136,081
Track PAA

SEP 27.69

+0.10 +0.36%
Volume: 37,029
Track SEP

SXL 62.10

+0.19 +0.31%
Volume: 19,214
Track SXL


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