MLP Rating Updates for the Week Ending January 12

Ferrellgas Partners

Ferrellgas Partners (FGP) was downgraded by Citigroup in the week ending January 12, 2018. Citigroup downgraded Ferrellgas Partners to “neutral” from “buy.” Citigroup cut its target price to $4.5 from $7. Now, 50.0% of the analysts rate Ferrellgas Partners as a “hold” and 50.0% rate it as a “sell.” Its average target price of $4.9 implies ~20% upside potential from the current price levels.

MLP Rating Updates for the Week Ending January 12

Sunoco LP

Sunoco LP (SUN) was upgraded at JPMorgan Chase last week. JPMorgan Chase raised Sunoco to “overweight” from “neutral.” Now, 56.2% of the analysts’ rate Sunoco as a “hold,” 31.3% rate it as a “buy,” and the remaining 12.5% rate it as a “sell.” Sunoco is trading close to the average target price of $31.8.

Tallgrass Energy Partners

Tallgrass Energy Partners (TEP) continued to see rating updates and price target revisions for the second consecutive week. Citigroup upgraded Tallgrass Energy Partners to “buy” from “neutral” last week. However, it cut the partnership’s target price to $51 from $55. For last week’s rating updates on Tallgrass Energy Partners, read MLP Rating Updates for Week Ended January 5.

Now, 50% of the analysts rate Tallgrass Energy Partners as a “buy” and 50.0% rate it as a “hold.” Its average target price of $54.1 implies ~17% upside potential from the current price levels.

Enbridge Energy Partners

Enbridge Energy Partners (EEP), the midstream MLP mainly involved in crude oil transportation and terminaling, was downgraded by Morgan Stanley to “underweight” from “equal-weight.” It’s important to note that 66.7% of the analysts rate Enbridge Energy Partners as a “hold,” 16.7% rate it as a “buy,” and 16.7% rate it as a “sell.” Enbridge Energy Partners’ average target price of $16.5 implies ~8% upside potential from the current price levels.

Crestwood Equity Partners

Crestwood Equity Partners (CEQP) saw a rating update and a target price revision last week. Wells Fargo raised it to “outperform” from “market perform,” while Stifel increased its target price to $30 from $27. Now, 55.6% of the analysts rate Crestwood Equity Partners as a “buy,” 33.3% rate it as a “hold,” and 11.1% rate it as a “sell.” Its average target price of $28.2 implies ~5% upside potential from the current price levels.

Phillips 66 Partners

Phillips 66 Partners (PSXP) saw a target price revision and a rating update last week. Citigroup lowered its target price to $60 from $64, while Morgan Stanley downgraded the partnership to “equal-weight” from “overweight.” Now, 68.8% of the analysts rate Phillips 66 Partners as a “buy,” and 31.2% rate it as a “hold.” Phillips 66 Partners’ average target price of $58.4 implies ~6% upside potential from the current price levels.

Spectra Energy Partners

Wells Fargo downgraded Spectra Energy Partners (SEP) to “market perform” from “outperform” last week. Now, 44.4% of the analysts rate Spectra Energy Partners as a “buy,” 38.9% rate it as a “hold,” and 16.7% rate it as a “sell.” Its average target price of $47 implies ~8% upside potential from the current price levels.

Next, we’ll discuss Enbridge Energy Partners’ (EEP) technical indicators.