Tuesday, September 7, 2010

Holly Energy (NYSE:HEP), NuStar Energy (NYSE:NS) Downgraded by Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS)

Energy companies have been receiving a lot of attention lately, and there have been a number of downgrades and upgrades. On the downgrade side, Bank of America (NYSE:BAC) downgraded Holly Energy (NYSE:HEP) while Morgan Stanley (NYSE:MS) downgraded NuStar Energy (NYSE:NS).

Holly was downgraded from "Buy" to "Neutral," and NuStar from "Overweight" to "Equalweight."

NuStar fell to $57.65, dropping $1.46, or 2.47 percent, as of 3:20 PM EDT. Holly Energy was up slightly to $50.72, gaining $0.10, or 0.20 percent at 3:21 PM EDT.

Holly Energy Partners, L.P. runs a system of petroleum product and crude oil pipelines, storage tanks, distribution terminals, and loading rack facilities.

NuStar Energy L.P. operates in the terminalling, storage, and transportation of petroleum products in a number of countries and parts of the world.

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