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ETP

Energy Transfer Partners

$22.92

0.06 (0.26%)

, PTXP

PennTex

$16.65

-0.3 (-1.77%)

17:04
05/18/17
05/18
17:04
05/18/17
17:04

Energy Transfer Partners announces tender offer for PennTex

Energy Transfer Partners (ETP) announced its tender offer to purchase all of the outstanding common units representing limited partner interests in PennTex Midstream Partners (PTXP) not currently owned by ETP for $20.00 per common unit in cash. ETP currently owns approximately 32.4% of the outstanding PennTex common units. The tender offer will expire on June 19. The tender offer is conditioned upon there being validly tendered sufficient PennTex units such that, following the closing of the tender offer, ETP and its affiliates own over 80% of the outstanding PennTex common units.

ETP

Energy Transfer Partners

$22.92

0.06 (0.26%)

PTXP

PennTex

$16.65

-0.3 (-1.77%)

ETP Energy Transfer Partners
$22.92

0.06 (0.26%)

05/09/17
FBCO
05/09/17
UPGRADE
Target $29
FBCO
Outperform
Energy Transfer Partners upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst John Edwards upgraded Energy Transfer Partners to Outperform from Neutral and raised his price target on the shares to $29 from $27 on lower equity needs and higher EBITDA relative to prior forecasts.
05/10/17
BERN
05/10/17
UPGRADE
BERN
Outperform
Energy Transfer Partners upgraded to Outperform at Bernstein
05/10/17
BERN
05/10/17
UPGRADE
BERN
Outperform
Energy Transfer Equity, Energy Transfer Partners upgraded at Bernstein
As noted earlier, Bernstein upgraded Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) to Outperform from Market Perform. Analyst Jean Ann Salisbury says that the companies are "arguably levered" to three growth areas: Permian, Marcelllus, and ethane volumes. The analyst adds that several "very positive developments" for the companies have occurred since January: the DAPL project proceeded and its "finish line is in sight; progress was made with the Rover project; the DEP approved Mariner East 2; and 73 rigs were added in the Permian, while oil production there rose meaningfully. Target $23 for Energy Transfer Equity and $30 for Energy Transfer Partners.
05/12/17
WOLF
05/12/17
INITIATION
Target $25
WOLF
Peer Perform
Energy Transfer Partners initiated with a Peer Perform at Wolfe Research
Wolfe Research initiated Energy Transfer Partners with a Peer Perform and a $25 price target.
PTXP PennTex
$16.65

-0.3 (-1.77%)

11/29/16
RHCO
11/29/16
DOWNGRADE
Target $18
RHCO
Hold
PennTex downgraded to Hold at SunTrust
As previously reported, SunTrust analyst Tristan Richardson downgraded PennTex (PTXP) to Hold from Buy following the recent deal via which Sunoco Logistics Partners (SXL) will acquire Energy Transfer Partners (ETP). Richardson expects PennTex "will take a back burner" as priority following the deal and expects the remaining public float to be eventually acquired, but not at any significant premium. The analyst lowered his price target for PennTex to $18 from $20.
12/06/16
STFL
12/06/16
DOWNGRADE
STFL
Hold
PennTex downgraded to Hold from Buy at Stifel
12/06/16
12/06/16
DOWNGRADE
Target $15

Hold
PennTex downgraded to Hold after Energy Transfer deal at Stifel
As previously reported, Stifel analyst Selman Akyol downgraded PennTex Midstream Partners (PTXP) to Hold from Buy, stating that its outlook changed with the Energy Transfer Partners' (ETP) deal. While Energy Transfer did not rule out dropdowns, Akyol doesn't expect them and does not believe transactions would create significant value for PennTex. He lowered his price target on PennTex shares to $15 from $18.
01/03/17
DBAB
01/03/17
DOWNGRADE
Target $17
DBAB
Hold
PennTex downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Kristina Kazarian downgraded PennTex (PTXP) to Hold saying the Energy Transfer Partners (ETP) acquisition of the company's general partnership and sponsor-held LP units has "clouded the outlook." The analyst lowered her price target for PennTex shares to $17 from $20.

TODAY'S FREE FLY STORIES

HON

Honeywell

$131.70

-0.14 (-0.11%)

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X

U.S. Steel

$20.39

0.9169 (4.71%)

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MOMO

Momo

$42.83

-0.75 (-1.72%)

14:39
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AZO

AutoZone

$596.00

-63.49 (-9.63%)

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  • 23

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HON

Honeywell

$131.63

-0.21 (-0.16%)

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  • 31

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ALXN

Alexion

$115.42

1.58 (1.39%)

14:31
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  • 23

    Oct

RBS

RBS

$6.95

0.09 (1.31%)

14:30
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Royal Bank of Scotland sees put buying »

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  • 30

    May

HON

Honeywell

$131.98

0.14 (0.11%)

14:29
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Honeywell says spinoff of aerospace is 'intriguing concept' »

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  • 31

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HON

Honeywell

$132.08

0.235 (0.18%)

14:25
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Honeywell to shape portfolio changes over next 2-3 years »

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  • 31

    May

HLF

Herbalife

$69.44

-4 (-5.45%)

14:21
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BG

Bunge

$80.28

10.21 (14.57%)

14:20
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Options
Newsbots go Bungee jumping this afternoon »

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UTX

United Technologies

$122.18

0.52 (0.43%)

14:18
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United Technologies CEO not interested in split »

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  • 23

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MOMO

Momo

$42.83

-0.75 (-1.72%)

14:17
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  • 23

    May

$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

14:16
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NYSE market internals summary »

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AIG

AIG

$61.56

0.175 (0.29%)

14:12
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A.M. Best affirms AIG credit ratings, removes from under review »

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  • 28

    Jun

BWLD

Buffalo Wild Wings

$150.60

-2 (-1.31%)

14:11
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HON

Honeywell

$131.96

0.12 (0.09%)

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Earnings
Honeywell backs FY17 EPS view $6.90-$7.10, consensus $7.09 »

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  • 31

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HON

Honeywell

$131.98

0.14 (0.11%)

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  • 31

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WRB

W. R. Berkley

$67.93

0.26 (0.38%)

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FNB

F.N.B.

$13.70

0.205 (1.52%)

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NRG

NRG Energy

$16.10

0.14 (0.88%)

14:02
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LOW

Lowe's

$83.11

-0.94 (-1.12%)

14:00
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  • 24

    May

BWLD

Buffalo Wild Wings

$150.60

-2 (-1.31%)

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TCO

Taubman Centers

$60.90

0.55 (0.91%)

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