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: 6,642,431
Track EP

EPB 23.00

+0.50 +2.22%
Volume: 166,840
Track EPB

HEP 36.40

-0.04 -0.11%
Volume: 128,451
Track HEP

MGG 23.25

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

OKE 38.41

+0.79 +2.10%
Volume: 361,330
Track OKE

PAA 49.74

+0.79 +1.61%
Volume: 298,409
Track PAA

SEP 27.04

+0.48 +1.81%
Volume: 60,846
Track SEP

SXL 58.40

+0.20 +0.34%
Volume: 56,897
Track SXL


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