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MLPs’ Rating Updates during the Week Ending November 24

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Energy Transfer Equity

MLPs saw two rating updates in the week ending November 24—one target price revision and one rating update. Both of the changes were from JPMorgan Chase. It lowered Energy Transfer Equity’s (ETE) target price and downgraded Enable Midstream Partners (ENBL). Read Energy Transfer Equity Fell 8.8% in November: Can It Recover? to learn more.

Enable Midstream Partners

Enable Midstream Partners, the midstream MLP involved mainly in natural gas gathering, processing, and transportation, was downgraded by JPMorgan Chase to “neutral,” which is equivalent to a “hold” from “overweight,” which is equivalent to a “buy.” Now, 60.0% of the analysts surveyed by Reuters rate Enable Midstream Partners as a “hold,” 20.0% rate it as a “buy,” and 20% rate it as a “sell” as of November 24. Currently, Enable Midstream Partners is trading below the low range ($15) of analysts’ target price. Its average target price of $17.1 implies ~14% upside potential from the current price levels. For a comparative analysis of four mid-sized Gathering & Processing MLPs including Enable Midstream, read WES, ENBL, ENLK, DCP: Analyzing Four Midsize G&P MLPs.

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