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MLP Weekly Roundup: Week Ending February 9

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Part 4
MLP Weekly Roundup: Week Ending February 9 PART 4 OF 5

MLP Rating Updates during the Week Ending February 9

MPLX LP

In the week ending February 9, MPLX LP (MPLX) was on Wall Street analysts’ radar for the second consecutive week. Last week, the partnership saw one rating update and three target price revisions.

  • Jefferies downgraded the partnership to a “hold” and cut the target price to $38.
  • Mizhuo raised the target price to $42 from $40.
  • Morgan Stanley raised the target price to $41 from $40.

Now, 78.9% of the analysts surveyed by Reuters rate MPLX as a “buy” and the remaining 21.1% rate it as a “hold.” MPLX is trading below the low range ($36) of analysts’ target price. MPLX’s average target price of $42.2 implies ~21% upside potential from the current price levels.

MLP Rating Updates during the Week Ending February 9

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Green Pipeline Partners

Green Pipeline Partners (GPP), the MLP involved in the storage, terminaling, and transportation of ethanol and other fuels, was upgraded by Stifel last week. Stifel raised Green Pipeline Partners to “buy” from “hold.” Now, 100% of the analysts rate the partnership as a “buy.” Green Pipeline Partners is trading below the low range ($20) of analysts’ target price. The partnership’s average target price of $22.7 implies ~15% upside potential from the current price levels.

Plains All American Pipeline

Seaport Global Securities raised Plains All American Pipeline (PAA) to a “buy” from a “hold” last week and increased its target price to $25 from $23. At the same time, Stifel increased the partnership’s target price to $24 from $22. Now, 52% of the analysts rate the MLP as a “buy” and the remaining 48% rate it as a “hold.” Plains All American Pipeline’s average target price of $24.8 implies ~15% upside potential from the current price levels.

Suburban Propane Partners

Suburban Propane Partners (SPH), the MLP involved in the marketing and distribution of heating fuels including propane, was upgraded by Raymond James last week. Raymond James raised Suburban Propane Partners to “outperform,” which is equivalent to “buy” from “market perform” which is equivalent to “hold.” Now, 57.1% of the analysts rate Suburban Propane Partners as a “hold” and the remaining 42.9% rate it as a “buy.” Suburban Propane Partners is trading below the low range ($24.6) of analysts’ target price. Suburban Propane Partners’ average target price of $27.5 implies ~12% upside potential from the current price levels.

Next, we’ll discuss Plains All American Pipeline’s technical indicators.

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