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Fly News Breaks for September 23, 2016
ETP
Sep 23, 2016 | 07:34 EDT
After meeting with the CEO of Energy Transfer Partners, Wells Fargo says that the worst case impact of the DAPL situation on the company is not as onerous as it had previously thought. The firm had previously believed that DAPL could be scrapped, leaving Energy Transfer Partners with sunk costs relating to the project. However, the firm now believes that the company should be able to ship oil down a portion of the DAPL project. Additionally, Wells Fargo says that Energy Transfer "remains confident that DAPL will be constructed." It keeps an Outperform rating on the shares.
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