Last Week’s MLP Rating Updates: Must-Knows

Global Partners

Global Partners (GLP), a midstream MLP involved in crude oil, refined product, and NGLs (natural gas liquids) logistics and marketing, saw two target price revisions and one rating update last week. Stifel cut GLP to “hold” from “buy” and lowered the partnership’s target price to $18 from $20. Moreover, Barclays reduced GLP’s target price to $15 from $16. 75% of analysts rate GP a “buy” while the remaining 25% rate it a “hold.” GLP’s average target price of $18.3 implies ~5% upside potential from the current price.

Last Week’s MLP Rating Updates: Must-Knows

Sunoco LP

Sunoco LP (SUN), an MLP subsidiary of Energy Transfer Equity (ETE) involved in the wholesale marketing and distribution of refined products, was downgraded at Goldman Sachs last week. Goldman Sachs cut SUN to “sell” from “hold.” 56.3% of analysts’ rate SUN a “hold,” 31.2% rate it a “buy,” and the remaining 12.5% rate it a “sell.” SUN is currently trading below the low range ($28) of analysts’ target price. Its average target price of $32.2 implies ~16% upside potential from the current price levels.

Enbridge Energy Partners

Enbridge Energy Partners (EEP), the MLP subsidiary of Enbridge (ENB), saw two target price cuts last week after it lowered its distributable cash flow guidance for 2018. The two downward target price revisions are:

  • JP Morgan to $15 from $16
  • Ladenburg Thalmann to $13 from $18

75.0% of analysts rate Enbridge Energy Partners a “hold,” 16.7% rate it a “sell,” and the remaining 8.3% rate it a “buy.” EEP is currently trading below the low range ($13) of analysts’ target price. Its average target price of $15.3 implies ~53% upside potential from the current price levels.