UPDATE: Hilliard Lyons Downgrades Copano Energy to Neutral Pending Acquisition

Hilliard Lyons downgraded Copano Energy

from Long-term Buy to Neutral. Hilliard Lyons said, "On January 29, 2013 CPNO announced an agreement to be acquired by Kinder Morgan Energy Partners at .4563 units of KMP on a one for one basis as of that date. This values CPNO units at $40.91 per unit. … We are reducing our rating on the units from Longterm Buy to Neutral pending the company's acquisition, which is anticipated to close in Q3'13." Copano Energy closed at $38.24 on Monday.