Wells Fargo Downgrades QEP Midstream Partners (QEPM) to Market Perform (Earlier

Wells Fargo earlier downgraded QEP Midstream Partners (NYSE: QEPM) from Outperform to Market Perform with a price target of $18-$20 (from $25-$27). Yesterday it announced that its wholly owned subsidiary, QEP Field Services Company, has entered into a definitive agreement to sell its midstream business, including the Company's ownership interest in QEP Midstream Partners, LP (NYSE: QEPM), to Tesoro Logistics LP in an all cash transaction valued at $2.5 billion.

Analyst Michael Blum said this reduces future growth prospects and upside potential. He expects the stock to trade sideways.

For an analyst ratings summary and ratings history on QEP Midstream Partners click here. For more ratings news on QEP Midstream Partners click here.

Shares of QEP Midstream Partners closed at $17.30 yesterday.

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