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 9.90

-0.09 -0.90%
Volume: 7,416,432
Track EP

EPB 22.50

-0.33 -1.45%
Volume: 139,718
Track EPB

HEP 36.44

+0.14 +0.39%
Volume: 102,592
Track HEP

MGG 23.25

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

OKE 37.62

-0.45 -1.18%
Volume: 609,866
Track OKE

PAA 48.95

+0.22 +0.45%
Volume: 191,567
Track PAA

SEP 26.56

+0.31 +1.18%
Volume: 175,631
Track SEP

SXL 58.20

+0.00 +0.00%
Volume: 27,588
Track SXL


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