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Stock Market & Financial Investment News

News Breaks
June 25, 2014
17:30 EDTEEP, MPCEnbridge Energy approved to construct Sandpiper Pipeline Project in NDMarathon Petroleum
The North Dakota Public Service Commission issued its permit approving the North Dakota Pipeline Company LLC's Sandpiper Pipeline Project. The permit allows a subsidiary of Enbridge Energy (EEP) to begin construction of the Sandpiper Pipeline Project as early as July 1 in the state of North Dakota. North Dakota Pipeline Company LLC is a joint venture between Enbridge Energy Partners and Williston Basin Pipe Line, an indirect subsidiary of Marathon Petroleum (MPC). Marathon Petroleum is funding 37.5% of the Sandpiper Pipeline Project and will hold an approximate 27% interest in the North Dakota Pipeline Company when the Sandpiper Pipeline is anticipated to be placed into service in early 2016.
News For EEP;MPC From The Last 14 Days
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March 25, 2015
09:29 EDTMPCRefining stocks can outperform commodities within cycle, says Cowen
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09:19 EDTMPCRefining sector price targets raised at Morgan Stanley
Morgan Stanley believes the market is underestimating US downstream earnings power. The firm expects US refining to re-rate, driven by relative valuations, secular tailwinds, and focus on shareholder returns. Morgan Stanley raised price targets on Valero (VLO) to $90 from $70, Tesoro (TSO) to $120 from $92, Phillips 66 (PSX) to $105 from $95, Western Refining (WNR) to $63 from $52, Delek US (DK) to $48 from $45, Marathon Petroleum (MPC) to $145 from $120, and PBF Energy (PBF) to $45 from $35.

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