Breaking News Instant updates and real-time market news.

SXL

Sunoco Logistics

, ETP

Energy Transfer Partners

09:25
11/21/16
11/21
09:25
11/21/16
09:25

Sunoco Logistics to acquire Energy Transfer Partners in unit-for-unit deal

Sunoco Logistics Partners (SXL) and Energy Transfer Partners (ETP) announced that they have entered into a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in the first quarter of 2017, subject to receipt of ETP unitholder approval and other customary closing conditions. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own. This equates to a 10% premium to the volume weighted average pricing of ETP's common units for the last 30 trading days immediately prior to the announcement of the transaction. As SXL will be the acquiring entity, the existing incentive distribution rights provisions in the SXL partnership agreement will continue to be in effect, and Energy Transfer Equity (ETE) will own the incentive distribution rights of SXL following the closing of the transaction. As part of this transaction, ETE has agreed to continue to provide all the incentive distribution right subsidies that are currently in effect with respect to both partnerships. The transaction is expected to be immediately accretive to SXL's distributable cash flow per common unit and is also expected to allow the combined partnership to be in position to achieve near-term distribution increases in the low double digits and a more than 1.0x distribution coverage ratio. The transaction is expected to provide significant benefits for SXL and ETP unitholders as the combined partnership will have increased scale and diversification across multiple producing basins and will have greater opportunities to more closely integrate SXL's natural gas liquids business with ETP's natural gas gathering, processing and transportation business. With this transaction, SXL and ETP expect to build upon their experience working together as partners in several joint ventures to pursue commercial opportunities and to achieve cost savings while enhancing the service capabilities for their customers. SXL and ETP expect that the transaction will allow for commercial synergies and costs savings in excess of $200M annually by 2019. The transaction is also expected to strengthen the balance sheet of the combined organization by utilizing cash distribution savings to reduce debt and to fund a portion of the growth capital expenditure programs of the two partnerships. ETP and SXL have spent approximately $15B in organic growth capital over the past several years, and these expenditures, combined with the completion of other major capital projects currently in progress, are expected to continue to generate strong distributable cash flow growth. At the closing of the transaction, the Chief Executive Officer, Chief Commercial Officer, President and Chief Financial Officer of the combined partnership will be Kelcy Warren, Mackie McCrea, Matt Ramsey and Tom Long, respectively, and it is expected that Mike Hennigan and other members of the SXL management team will continue in leading management roles of the combined company with the SXL business headquartered in Philadelphia.

SXL

Sunoco Logistics

ETP

Energy Transfer Partners

ETE

Energy Transfer Equity

SXL Sunoco Logistics

09/29/16
SPHN
09/29/16
INITIATION
Target $35
SPHN
Overweight
Sunoco Logistics initiated with an Overweight at Stephens
Stephens analyst Matt Schmid initiated Sunoco Logistics with an Overweight rating and a $35 price target.
09/29/16
MZHO
09/29/16
INITIATION
Target $30
MZHO
Neutral
Sunoco Logistics initiated with a Neutral at Mizuho
Mizuho initiated Sunoco Logistics with a Neutral and $30 price target.
11/07/16
BERN
11/07/16
UPGRADE
BERN
Market Perform
Sunoco Logistics upgraded to Market Perform from Underperform at Bernstein
10/07/16
WOLF
10/07/16
INITIATION
Target $26
WOLF
Underperform
Sunoco Logistics initiated with an Underperform at Wolfe Research
Wolfe Research analyst Steven Fleishman initiated Sunoco Logistics Partners with an Underperform and a $26 price target.
ETP Energy Transfer Partners

11/07/16
BERN
11/07/16
UPGRADE
BERN
Outperform
Energy Transfer Partners upgraded to Outperform from Market Perform at Bernstein
10/07/16
WOLF
10/07/16
INITIATION
Target $38
WOLF
Peer Perform
Energy Transfer Partners initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Steven Fleishman initiated Energy Transfer Partners with a Peer Perform and a $38 price target.
09/29/16
MZHO
09/29/16
INITIATION
Target $45
MZHO
Buy
Energy Transfer Partners initiated with a Buy at Mizuho
Mizuho initiated Energy Transfer Partners with a Buy and a $45 price target.
11/14/16
FBCO
11/14/16
NO CHANGE
FBCO
Outperform
Energy Transfer Partners added to Top Picks List at Credit Suisse
Credit Suisse analyst John Edwards added Energy Transfer Partners to the Top Picks List saying its 11% yield provides an attractive entry point for investors.
ETE Energy Transfer Equity

11/07/16
BERN
11/07/16
UPGRADE
BERN
Outperform
Energy Transfer Equity upgraded to Outperform from Market Perform at Bernstein
11/08/16
BERN
11/08/16
UPGRADE
BERN
Outperform
Energy Transfer Equity upgraded based on valuation at Bernstein
As noted earlier, Bernstein upgraded Energy Transfer to Outperform from Market Perform. Analyst Jean Ann Salisbury says that Energy Transfer's stock is trading as though the company's Dakota Access and Rover projects will be canceled. However, she expects Dakota to be completed with $400M-$1B of additional costs, and she thinks that Rover will ultimately win FERC approval and proceed. Target to $17 from $18.
11/08/16
11/08/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Sysco (SYY) upgraded to Buy from Neutral at BofA/Merrill with analyst Marisa Sullivan citing greater accretion from the Brakes acquisition in fiscal 2017. 2. Windstream (WIN) upgraded to Outperform from Market Perform at Cowen. 3. ACADIA (ACAD) upgraded to Buy from Neutral at BofA/Merrill with analyst Tazeen Ahmad seeing meaningful upside supported by management's comments that the upcoming Alzheimer Psychosis trial may not need to be statistically significant to warrant advancement. 4. Ferrari (RACE) upgraded to Hold from Sell at Evercore ISI with analyst George Galliers citing the LaFerrari Aperta coming to market sooner than expected and incremental contribution and the somewhat defensive nature of the stock. 5. Energy Transfer Equity (ETE) upgraded to Outperform from Market Perform at Bernstein with analyst Jean Ann Salisbury saying Energy Transfer's stock is trading as though the company's Dakota Access and Rover projects will be canceled. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/10/16
BERN
11/10/16
NO CHANGE
BERN
Energy Transfer Equity likely to benefit from Trump victory, says Bernstein
Bernstein analyst Jean Ann Salisbury says that President-elect Trump has expressed strong support for energy pipelines and has close personal and financial ties to Energy Transfer Equity. Consequently, the analyst thinks that Trump's victory bodes well for the company's suspended Dakota Access Pipeline. The analyst continues to believe that the stock is significantly undervalued.

TODAY'S FREE FLY STORIES

PED

PEDEVCO Corp.

$0.67

-0.016 (-2.32%)

14:39
06/22/17
06/22
14:39
06/22/17
14:39
Hot Stocks
Breaking Hot Stocks news story on PEDEVCO Corp. »

PEDEVCO Corp. trading…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TSLA

Tesla

$376.40

4.16 (1.12%)

, P

Pandora

$7.77

0.26 (3.46%)

14:31
06/22/17
06/22
14:31
06/22/17
14:31
Periodicals
Tesla held talks with labels on music streaming service, Recode says »

Tesla (TSLA) has held…

TSLA

Tesla

$376.40

4.16 (1.12%)

P

Pandora

$7.77

0.26 (3.46%)

AAPL

Apple

$145.87

0.86 (0.59%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    Oct

TSLA

Tesla

$384.73

8.27 (2.20%)

14:26
06/22/17
06/22
14:26
06/22/17
14:26
Periodicals
Tesla in talks with labels on creating streaming service, Recode says 

Reference Link

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    Oct

ESV

Ensco

$5.13

0.055 (1.08%)

14:25
06/22/17
06/22
14:25
06/22/17
14:25
Options
Ensco call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NVO

Novo Nordisk

$43.77

0.06 (0.14%)

14:22
06/22/17
06/22
14:22
06/22/17
14:22
Hot Stocks
Novo Nordisk says CHMP endorses EU label update of Saxenda »

Novo Nordisk announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

RHHBY

Roche

$32.60

0.18 (0.56%)

14:21
06/22/17
06/22
14:21
06/22/17
14:21
Hot Stocks
Roche reports FDA approval of Rituxan Hycela »

Genentech, a member of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 13

    Jul

$NSD

NASDAQ Market Internals

14:17
06/22/17
06/22
14:17
06/22/17
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

14:16
06/22/17
06/22
14:16
06/22/17
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NAVG

Navigators

$52.80

-0.4 (-0.75%)

14:15
06/22/17
06/22
14:15
06/22/17
14:15
Initiation
Navigators initiated  »

Navigators initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 27

    Jun

WDR

Waddell & Reed

$19.55

0.73 (3.88%)

, IVZ

Invesco

$35.07

0.27 (0.78%)

14:14
06/22/17
06/22
14:14
06/22/17
14:14
Recommendations
Waddell & Reed, Invesco, T. Rowe Price analyst commentary  »

Waddell & Reed…

WDR

Waddell & Reed

$19.55

0.73 (3.88%)

IVZ

Invesco

$35.07

0.27 (0.78%)

TROW

T. Rowe Price

$73.04

-0.3 (-0.41%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

RAD

Rite Aid

$3.15

-0.0443 (-1.39%)

, WBA

Walgreens Boots Alliance

$78.12

-0.18 (-0.23%)

14:13
06/22/17
06/22
14:13
06/22/17
14:13
Periodicals
Capitol Forum says Lipsky reccomends blocking Rite Aid deal, Bloomberg says »

The FTC is said to be set…

RAD

Rite Aid

$3.15

-0.0443 (-1.39%)

WBA

Walgreens Boots Alliance

$78.12

-0.18 (-0.23%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Jun

MDRX

Allscripts

$12.19

0.11 (0.91%)

14:10
06/22/17
06/22
14:10
06/22/17
14:10
Options
Allscripts attracts bullish option flow as shares see strength »

Allscripts attracts…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SHLD

Sears

$6.43

-0.37 (-5.44%)

14:05
06/22/17
06/22
14:05
06/22/17
14:05
Options
Sears call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CNK

Cinemark

$38.39

-1.43 (-3.59%)

, RGC

Regal Entertainment

$20.46

-0.3 (-1.45%)

14:02
06/22/17
06/22
14:02
06/22/17
14:02
Hot Stocks
Analyst says sell Cinemark on weaker theater outlook, VOD threat »

Credit Suisse downgraded…

CNK

Cinemark

$38.39

-1.43 (-3.59%)

RGC

Regal Entertainment

$20.46

-0.3 (-1.45%)

AMC

AMC Entertainment

$22.70

-0.35 (-1.52%)

IMAX

IMAX

$23.40

-0.8 (-3.31%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MLM

Martin Marietta

$228.17

1.08 (0.48%)

14:01
06/22/17
06/22
14:01
06/22/17
14:01
Hot Stocks
Martin Marietta announces Lloyd to retire as CFO »

Martin Marietta Materials…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 11

    Sep

AAL

American Airlines

$48.43

0.4 (0.83%)

13:59
06/22/17
06/22
13:59
06/22/17
13:59
Periodicals
American Air CEO: Not particularly excited about Qatar overture, Bloomberg says »

According to a letter to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

  • 07

    Jul

HMC

Honda

$27.57

0.004 (0.01%)

, NSANY

Nissan

$19.09

-0.02 (-0.10%)

13:55
06/22/17
06/22
13:55
06/22/17
13:55
Periodicals
Honda, Nissan, Toyota to support Takata through recovery, Nikkei reports »

Japanese auto giants…

HMC

Honda

$27.57

0.004 (0.01%)

NSANY

Nissan

$19.09

-0.02 (-0.10%)

TM

Toyota

$105.48

0.92 (0.88%)

TKTDY

Takata

$2.25

0.45 (25.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

SNCR

Synchronoss

$10.65

0.47 (4.62%)

, T

AT&T

$38.22

0.065 (0.17%)

13:53
06/22/17
06/22
13:53
06/22/17
13:53
Recommendations
Synchronoss, AT&T, Verizon analyst commentary  »

Synchronoss comments on…

SNCR

Synchronoss

$10.65

0.47 (4.62%)

T

AT&T

$38.22

0.065 (0.17%)

VZ

Verizon

$45.54

0.125 (0.28%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 27

    Jul

DIS

Disney

$104.39

-0.41 (-0.39%)

13:49
06/22/17
06/22
13:49
06/22/17
13:49
Hot Stocks
Ron Howard takes over director duties on 'Han Solo' film »

Lucasfilm announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 08

    Aug

SPWR

SunPower

$7.68

0.17 (2.26%)

, FSLR

First Solar

$37.23

1.78 (5.02%)

13:47
06/22/17
06/22
13:47
06/22/17
13:47
Hot Stocks
Solar stocks surge after Trump floats idea of sun-powered border wall »

Solar stocks soared…

SPWR

SunPower

$7.68

0.17 (2.26%)

FSLR

First Solar

$37.23

1.78 (5.02%)

JKS

JinkoSolar

$20.55

1.15 (5.93%)

CSIQ

Canadian Solar

$13.99

0.94 (7.20%)

JASO

JA Solar

$6.41

0.14 (2.23%)

TSLA

Tesla

$376.40

4.16 (1.12%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 29

    Jun

  • 02

    Oct

AZN

AstraZeneca

$35.50

0.62 (1.78%)

13:45
06/22/17
06/22
13:45
06/22/17
13:45
Options
AstraZeneca call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

PCRFY

Panasonic

$13.65

0.123 (0.91%)

13:37
06/22/17
06/22
13:37
06/22/17
13:37
Periodicals
Panasonic aims to double cumulative dishwasher sales by 2026, Nikkei says »

Panasonic said it is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

13:35
06/22/17
06/22
13:35
06/22/17
13:35
General news
NY Fed accepted $195.14 B in daily reverse repos »

NY Fed accepted $195.14 B…

SNCR

Synchronoss

$10.65

0.47 (4.62%)

, VZ

Verizon

$45.52

0.11 (0.24%)

13:30
06/22/17
06/22
13:30
06/22/17
13:30
Earnings
Synchronoss sees 'negligible' 2017 revenue impact from AT&T 'Locker' shut down »

In a business update…

SNCR

Synchronoss

$10.65

0.47 (4.62%)

VZ

Verizon

$45.52

0.11 (0.24%)

T

AT&T

$38.22

0.07 (0.18%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 27

    Jul

PPC

Pilgrim's Pride

$23.33

-0.07 (-0.30%)

13:30
06/22/17
06/22
13:30
06/22/17
13:30
Options
Meaty put activity in Pilgrims Pride »

Meaty put activity in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.