S&P In the news …
We are affirming our ‘BBB-‘ corporate credit and senior unsecured debt ratings on WPZ and removing the ratings from CreditWatch with negative implications. At the same time, we are affirming our ‘BBB-‘ corporate credit and senior unsecured debt ratings on WPZ’s wholly owned subsidiaries, Northwest Pipeline LLC and Transcontinental Gas Pipe Line Co. LLC, and
removing the ratings from CreditWatch with negative implications. The outlook is negative.
In the news …
“Enterprise Products Partners L.P. (NYSE:EPD) Director Randa Duncan Williams acquired 3,830,256 shares of the firm’s stock in a transaction dated Monday, January 4th. The shares were purchased at an average cost of $26.11 per share, with a total value of $100,007,984.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission.”
Note that the significance of the report and the underlying filings are confusing.
In the news …
Credit Suisse’s John Edwards has upgraded to Outperform, while hiking his targets for OKS and OKE by $4 apiece, to $38 and $40.
MLPs in the news by UBS …
We believe many of the midstream names offer attractive upside potential. However, we believe those with stronger coverage, long-term contracts/minimum volume commitments, lower leverage and minimal commodity exposure will outperform. Thematically, we prefer those exposed to basins likely to grow such as the Permian/ Marcellus as well as assets which are demand driven (closer to the customer vs the wellhead). We highlight SHLX, SXL, MMP, EPD, GEL, WES and C-corp CPGX, SE as we believe those are names investors will gravitate towards. Strategically we continue to sit on the sidelines for most of the G&Ps; however, this is likely the first group to recover on a commodity rebound.
Although technically no longer an MLP. In the news …
“Kinder Morgan Inc. (KMI) is holding a board meeting Tuesday to consider slashing its dividend, which would be an unprecedented step for the massive energy company that just one year ago was promising unfettered growth.”
Consensus price targets from Thomson Reuters in the news.