Energy Business

Bernstein Wants Clients Buying Several Top MLPs

Jon C. Ogg

Other MLPs covered by the Bernstein note were also initiated on Wednesday.

Cheniere Energy Inc. (NYSEMKT: LNG) was started as Market Perform with a $38 price target (versus a $33.49 close). Its shares were last seen trading down 1.5% at $33.00, versus a consensus target price of $59.70.

Cheniere Energy Partners L.P. (NYSEMKT: CQP) was started as Market Perform with a $32 price target (versus a $27.55 close). Shares were up 1% at $27.82, and the consensus target was $34.73.

Energy Transfer Equity L.P. (NYSE: ETE) was started as Market Perform and was given a $15 price target (versus a $12.82 close). The stock was last seen trading up 1.9% at $13.07, and its consensus price target was $13.00.

Energy Transfer Partners L.P. (NYSE: ETP) was started as Market Perform and was assigned a $39 price target (versus a $34.77 close). The units were trading down 0.4% at $34.62 late on Wednesday, with a $38.50 consensus target price.


Spectra Energy Corp. (NYSE: SE) was started as Market Perform and was given a $33 price target (versus a $31.39 close). The stock was last seen down 0.4% at $30.86, versus a consensus analyst target of $32.93.

Spectra Energy Partners L.P. (NYSE: SEP) was started as Market Perform with a $48 price target (versus a $45.90 close). Shares were last seen trading up 0.8% at $46.28, and the consensus target price is $53.75.

And there was also at least one very negative call, but it had no impact on the trading on Wednesday.

Sunoco Logistics Partners L.P. (NYSE: SXL) was started as Underperform with a $26 price target (versus a $27.38 close) at Bernstein. Interestingly, its units were trading up 0.8% at $27.61 late on Wednesday. The consensus target price is $33.19.

Other recent news driving MLPs of late was seen as follows:

As a reminder, true yields in MLPs vary from the distribution yield-equivalents often cited. If they are distributions, there is generally a taxable income component and a return of capital component that is not considered taxable.