Wells Fargo (NYSE:WFC) took an overall look at the MLPs industry, including Gathering & Processing MLPs' Chesapeake Midstream (Nasdaq:CHKM), DCP Midstream (NYSE:DPM), Regency Energy Partners, L.P. (Nasdaq:RGNC), Western Gas Partners (NYSE:WES), and Crosstex Energy (Nasdaq:XTEX), and lowering our estimates for Atlas Pipeline (NYSE:APL), Copano Energy (Nasdaq:CPNO), MarkWest Energy (NYSE:MWE), and Targa Resources (NYSE:NGLS).
Here's how sized up the group of companies in general: "We are updating our models to reflect actual commodity prices in Q3’10, our revised commodity price deck, and the impact of recent acquisitions/financings. For 2010, we are lowering our DCF per unit estimates by an average of 1%. For 2011, we are raising our DCF per unit estimates for Chesapeake Midstream, DCP Midstream, RGNC, Western Gas Partners, and Crosstex Energy, and lowering our estimates for Atlas Pipeline, Copano Energy, MarkWest Energy, and NGLS."
Their favorite pick in the subsector, is Regency Energy Partners, L.P.
Targa closed Thursday at $28.66, down $0.81, or 2.76 percent. Chesapeake Midstream was slightly lower at $27.08, losing $0.03, or 0.11 percent. DCP Midstream fell to $35.34, dropping $0.44, or 1.23 percent. Regency closed at $24.75, losing $0.17, or 0.68 percent. Western Gas Partners lost $0.33, closing at $28.79, down 1.13 percent. Crosstex Energy closed at just above level, gaining a penny, or 0.07 percent. Atlas Pipeline Partners ended the session at $19.49, falling $0.34, or 1.71 percent. Copano Energy also closed a little above level, gaining $0.04, or 0.14 percent. MarkWest Energy decreased to $38.05 on the day, falling $0.35, or 0.91 percent. Targa ended the trading day at $28.66, losing $0.81, or 2.76 percent.
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