Morgan Keegan is lowering its price target on shares of El Paso Pipeline Partners, L.P. EPB to $42 from $42.50, but it has an Outperform rating on shares.
In a note to clients, Morgan Keegan writes, "EPB announced Wednesday it had acquired an additional 28% in Colorado Interstate Gas Company (CIG) and the remaining 15% in Southern Natural Gas Company (SNG) from El Paso Corporation(EP not rated) for $745mm (plus debt)."
Shares of EPB closed at $34.75 yesterday.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsEnergyMorgan KeeganOil & Gas Exploration & ProductionOil & Gas Storage & TransportationUtilities
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