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HEP

Holly Energy

$33.22

-0.09 (-0.27%)

, PAA

Plains All American

$20.67

-0.34 (-1.62%)

16:17
08/10/17
08/10
16:17
08/10/17
16:17

Holly Energy Partners to acquire remaining interests in Frontier, SLC pipelines

Holly Energy Partners (HEP) announced it has entered into definitive agreements to acquire a 50% interest in Frontier Aspen LLC, the owner of the Frontier Aspen Pipeline, and a 75% interest in the SLC Pipeline, the owner of the Salt Lake City Pipeline, from affiliates of Plains All American Pipeline, L.P. (PAA) for an aggregate purchase price of $250M in cash. Holly Energy currently owns 50% of Frontier and 25% of SLC. As a result, following the transactions, SLC and Frontier will be wholly-owned subsidiaries of Holly Energy. The Frontier Aspen Pipeline is a 289-mile crude pipeline from Casper, Wyoming to Frontier Station, Utah that supplies Canadian and Rocky Mountain crudes to Salt Lake City area refiners through a connection to the SLC Pipeline. The Salt Lake City Pipeline is a 95-mile crude pipeline that transports crude oil into the Salt Lake City area from the Utah terminal of the Frontier Pipeline and from Wahsatch station. The acquired interest in both pipelines is expected to generate approximately $23M in annual forecasted EBITDA.

HEP

Holly Energy

$33.22

-0.09 (-0.27%)

PAA

Plains All American

$20.67

-0.34 (-1.62%)

  • 08

    Nov

HEP Holly Energy
$33.22

-0.09 (-0.27%)

08/26/16
GSCO
08/26/16
INITIATION
Target $36
GSCO
Neutral
Holly Energy coverage resumed with a Neutral at Goldman
Goldman analyst Jerren Holder resumed coverage on Holly Energy with a Neutral and $36 price target.
01/12/17
RAJA
01/12/17
UPGRADE
RAJA
Market Perform
Holly Energy upgraded to Market Perform from Underperform at Raymond James
01/12/17
RAJA
01/12/17
UPGRADE
RAJA
Market Perform
Holly Energy upgraded to Market Perform on valuation at Raymond James
Raymond James analyst Darren Horowitz upgraded Holly Energy to Market Perform from Underperform citing balanced risk reward.
05/04/17
BOFA
05/04/17
DOWNGRADE
Target $36
BOFA
Underperform
Holly Energy downgraded two notches to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Gabe Moreen downgraded Holly Energy Partners LP to Underperform from Buy saying the current valuation premium to peers is unwarranted. The analyst views the partnership's growth prospects as "underwhelming" and cut his price target for the shares to $36 from $39.
PAA Plains All American
$20.67

-0.34 (-1.62%)

08/08/17
BARD
08/08/17
DOWNGRADE
Target $23
BARD
Neutral
Plains GP Holdings downgraded to Neutral at Baird
As previously reported, Baird analyst Ethan Bellamy downgraded Plains GP Holdings (PAGP) to Neutral from Outperform after Plains lowered guidance for its Supply and Logistics business. The analysts said Q2 results were anemic versus his expectations and he lowered his 2018 outlook materially. Bellamy lowered his price target to $23 from $36 on Plains GP Holdings shares. Bellamy also downgraded Plains All American (PAA) to Neutral this morning.
08/08/17
08/08/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dean Foods (DF) was downgraded to Neutral from Overweight at JPMorgan and to Equal Weight from Overweight at Stephens. 2. Armstrong Flooring (AFI) downgraded to Hold from Buy at Gabelli. 3. Plains All American (PAA) was downgraded to Neutral from Outperform at Baird and to Sector Perform at Scotia Howard Weil. 4. Beazer Homes (BZH) downgraded to Neutral from Outperform at Wedbush with analyst Jay McCanless citing valuation and lack of near-term catalysts. 5. Noble Corp. (NE) downgraded to Hold from Buy at Societe Generale with analyst Edward Muztafago saying the weak pricing environment will limit near-term improvement in the deepwater market and believes it will be second half 2018, at the earliest, before new project work picks up more materially. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/17
MSCO
08/09/17
DOWNGRADE
MSCO
Equal Weight
Plains All American downgraded to Equal Weight at Morgan Stanley
08/09/17
08/09/17
DOWNGRADE
Target $25

Equal Weight
Plains All American downgraded to Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley downgraded Plains All American to Equal Weight from Overweight and cut its price target to $25 from $32. Analyst Tom Abrams said Supply & Logistics arbitrage opportunities have not materialized and management commentary now suggests much lower segment earnings.

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RIC

Richmont Mines

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MGLN

Magellan Health

$83.65

0.35 (0.42%)

15:18
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  • 01

    Dec

SGMS

Scientific Games

$52.00

-0.2 (-0.38%)

15:17
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Scientific Games to host special shareholder meeting »

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$NSD

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$NYE

NYSE Market Internals

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Volume is below average…

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$NSD

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$NYE

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M

Macy's

$21.07

0.44 (2.13%)

, WMT

Wal-Mart

$96.62

0.21 (0.22%)

13:29
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M

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$21.07

0.44 (2.13%)

WMT

Wal-Mart

$96.62

0.21 (0.22%)

TGT

Target

$55.88

-1.61 (-2.80%)

BASFY

BASF

$27.39

-0.13 (-0.47%)

TEVA

Teva

$13.70

0.22 (1.63%)

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CBS

$56.54

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Dish

$50.43

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$7.07

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Siliconware Precision

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$12.22

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Alibaba

$191.19

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$8.14

-0.3 (-3.55%)

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  • 24

    Nov

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AFL

Aflac

$85.00

-0.05 (-0.06%)

13:26
11/24/17
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  • 01

    Dec

GBL

GAMCO Investors

, WTS

Watts Water

$72.65

0.15 (0.21%)

13:26
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Hot Stocks
Breaking Hot Stocks news story on GAMCO Investors, Watts Water »

Gabelli reports 6.69%…

GBL

GAMCO Investors

WTS

Watts Water

$72.65

0.15 (0.21%)

03/08/13
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  • 04

    Dec

CC

Chemours

$53.31

0.45 (0.85%)

13:23
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11/24
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13:23
Conference/Events
Chemours to host investor day »

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  • 01

    Dec

$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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Volume is below average…

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AIMT

Aimmune

$35.74

0.16 (0.45%)

13:09
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Aimmune to hold an investor symposium »

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  • 28

    Nov

PN

Patriot National

12:57
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CMCM

Cheetah Mobile

$12.02

-0.4 (-3.22%)

12:55
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Options
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Bearish flow noted in…

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GM

General Motors

$44.47

0.1828 (0.41%)

12:53
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Conference/Events
General Motors holds an investor an analyst webcast »

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  • 30

    Nov

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    Jan

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Week of 11/24…

EBAY

eBay

$35.94

-0.02 (-0.06%)

, OSTK

Overstock.com

$61.05

0.6 (0.99%)

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Amazon.com

$1,156.16

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  • 27

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