Tesoro Logistics price target raised to $76 from $64 at Oppenheimer Oppenheimer increased its price target on Tesoro after the company reported higher than expected EBITDA. The firm expects the company's volumes to continue to ramp, and anticipates another dropdown in 2014. It keeps an Outperform rating on the shares.
QEP Midstream Partners unitholders approve merger with Tesoro Logistics Tesoro Logistics (TLLP) and QEP Midstream Partners (QEPM) announced the approval of the merger of the two companies during a unitholder meeting held in San Antonio. Over 64% of the QEP Midstream Partners common units entitled to vote and held by unitholders other than QEP Midstream Partners GP and its affiliates were cast in favor of the merger. Tesoro, which indirectly holds all of QEP Midstream Partners' subordinated units, approved the merger by written consent.