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Weekly Wrap-Up: MLPs Rose for the Third Straight Week

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Part 3
Weekly Wrap-Up: MLPs Rose for the Third Straight Week PART 3 OF 3

ETE, WPZ, MPLX: Last Week’s Key MLP Rating Changes

ETE’s ratings

On July 13, 2017, Stifel started coverage on Energy Transfer Equity (ETE) with a “buy” rating. Stifel has given a price target of $20 for ETE. Of the analysts surveyed by Reuters, 65% have rated ETE as a “buy” and the remaining 35% have rated it as a “hold.” The consensus price target for ETE is $21, implying a 16% upside from ETE’s current price of $18.04.

ETE, WPZ, MPLX: Last Week’s Key MLP Rating Changes

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WPZ’s ratings

On July 12, 2017, Jefferies raised Williams Partners (WPZ) to “buy” with a price target of $44. Of the analysts surveyed by Reuters, 70% have rated WPZ as a “buy,” and the remaining 30% rated it as a “hold.” The consensus price target for WPZ is $45. Its units are currently trading at $41.01. If WPZ attains its price target, it would mean a 10% price-return for investors in a year.

Jefferies cuts MPLX’s price target

On July 12, 2017, Jefferies cuts MPLX’s (MPLX) target price to $42. Jefferies has given a “buy” rating for MPLX. Of the analysts surveyed by Reuters, 89% have rated MPLX as a “buy” and the remaining 11% have rated it as a “hold.” The consensus price target for MPLX is $44. Its units are currently trading at $35.7. If MPLX attains its price target, it would mean a 23% return for investors in a year.

NBLX downgraded by Mizuho

On July 10, 2017, Mizuho downgraded Noble Midstream Partners (NBLX) to “neutral” from “buy.” Nearly 82% have rated NBLX as a “buy” and the remaining 18% have rated it as a “hold.” The consensus price target for NBLX is $55.5, implying a 23% upside from NBLX’s current price of $45.21.

Other updates

On July 14, 2017, RBC cut Targa Resources’ (TRGP) price target to $60 from $67, with an “outperform” rating. On July 12, 2017, Jefferies cut TRGP’s price target to $50. It has given TRGP a “buy” rating. Jefferies also upgraded EnLink Midstream LLC (ENLC) to “hold.”

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