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Stock Market & Financial Investment News

News Breaks
June 18, 2012
08:19 EDTSXL, ETP, SUN, ETE, SUGETE to drop down Southern Union assets into ETP-controlled entity
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) announced that ETE plans to drop down its interest in Southern Union Company (SUG) into an ETP-controlled entity, which will also include assets to be acquired in the recently announced merger between Sunoco (SUN) and ETP. Concurrent with the closing of the Sunoco merger, ETE will contribute its interest in SUG into an ETP-controlled entity in exchange for a 60% equity interest in the new entity, to be called ETP Holdco Corporation. In conjunction with ETE’s contribution, ETP will contribute its interest in Sunoco to HoldCo and will retain a 40% equity interest in HoldCo. Prior to the contribution of Sunoco to HoldCo, Sunoco’s interests in Sunoco Logistics Partners (SXL) will be transferred to ETP. The transaction has been approved by the boards of directors of ETE’s general partner and ETP’s general partner and will not require the approval of Sunoco’s board. In addition, Energy Transfer has reviewed its plans with all three credit rating agencies and believes that the new structure enhances the overall credit profile of ETE, ETP and SUG and furthers ETP’s commitment to maintaining investment grade credit ratings. The transaction will not require ETE or ETP unitholder approval and no regulatory issues are expected.
News For ETE;ETP;SUG;SUN;SXL From The Last 14 Days
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November 19, 2014
11:19 EDTSXLSunoco Logistics management to meet with FBN Securities
Meeting to be held in New York on November 25 hosted by FBN Securities.
November 18, 2014
11:04 EDTETPEnergy Transfer Partners to host special shareholder meeting
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08:46 EDTSXL, ETE, ETPETE to transfer 30.8M ETP common units in $3.75B deal
Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announced that the management teams of the two partnerships have reached an agreement with respect to a transaction valued at approximately $3.75B in which ETE would transfer 30.8M ETP common units, ETE’s 45% interest in the Bakken pipeline project, and a cash amount to be determined in exchange for newly issued Class H units of ETP that will generally entitle ETE to receive 40.0% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of Sunoco Logistics Partners (SXL). In addition, ETE and ETP anticipate that they will negotiate a reduction in the incentive distribution right subsidies that ETE previously agreed to provide to ETP, and that such reductions would occur in 2015 and 2016. When combined with the 50.16M Class H units acquired by ETE in October 2013, upon consummation of the Transaction, ETE would own Class H units that will generally entitle ETE to receive approximately 90% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of SXL. Upon redemption of the 30.8M ETP common units, ETP’s outstanding common units will be reduced to approximately 322M common units. ETP expects that the Transaction will be neutral to distributable cash flow per ETP common unit in 2015 and accretive to distributable cash flow per ETP common unit in 2016 and thereafter. ETE expects that the transaction will be slightly dilutive to distributable cash flow per ETE common unit in 2015 and accretive to distributable cash flow per ETE common unit in 2016 and thereafter. The transaction is expected to be credit neutral to both ETE and ETP. ETE and ETP anticipate that the transaction agreements will be negotiated and executed prior to the end of 2014 and that the transaction would close in Q1 of 2015.
November 17, 2014
10:02 EDTSXLOn The Fly: Analyst Initiation Summary
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08:05 EDTETPEnergy Transfer Partners, Regency Energy Partners to construct NGL pipeline
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06:35 EDTSXLSunoco Logistics initiated with a Buy at Jefferies
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November 7, 2014
10:00 EDTSXLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Overweight from Equalweight at Capital One... CA Technologies (CA) upgraded at Evercore ISI... CGG SA (CGG) upgraded to Hold from Sell at Canaccord... Cavium (CAVM) upgraded to Strong Buy from Outperform at Raymond James... Charter (CHTR) upgraded to Outperform from Market Perform at Raymond James... Chesapeake (CHK) upgraded to Overweight from Equal Weight at Johnson Rice... Container Store (TCS) upgraded at BofA/Merrill... Delhaize (DEG) upgraded to Neutral from Underperform at BofA/Merrill... Devon Energy (DVN) upgraded to Accumulate from Hold at Tudor Pickering... Dynegy (DYN) upgraded to Accumulate from Hold at Tudor Pickering... EOG Resources (EOG) upgraded to Buy from Accumulate at Tudor Pickering... Envestnet (ENV) upgraded at Raymond James... GNC Holdings (GNC) upgraded to Buy from Neutral at Goldman... Hospira (HSP) upgraded at Raymond James... Kinross Gold (KGC) upgraded to Buy from Neutral at UBS... Kosmos (KOS) upgraded at RBC Capital... Nationstar (NSM) upgraded to Market Perform from Underperform at Wells Fargo... Northern Oil and Gas (NOG) upgraded at Raymond James... Perrigo (PRGO) upgraded to Overweight from Equal Weight at Morgan Stanley... PetSmart (PETM) upgraded to Hold from Sell at Deutsche Bank... Plains GP Holdings (PAGP) upgraded at Credit Suisse... Rosetta Resources (ROSE) upgraded to Accumulate from Hold at Tudor Pickering... Splunk (SPLK) upgraded to Buy from Hold at Evercore ISI... Sunoco Logistics (SXL) upgraded to Buy from Neutral at UBS... Target (TGT) upgraded to Buy from Neutral at Cleveland Research... Walker & Dunlop (WD) upgraded to Outperform from Market Perform at Wells Fargo... XO Group (XOXO) upgraded to Buy from Neutral at B. Riley... Zynga (ZNGA) upgraded to Buy from Hold at Needham.
08:28 EDTSXLSunoco Logistics upgraded at Stifel
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06:41 EDTSXLSunoco Logistics upgraded to Buy from Hold at Stifel
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05:40 EDTSXLSunoco Logistics upgraded to Buy from Neutral at UBS
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