Wunderlich Securities Continues El Paso Pipeline Partners Hold

Wunderlich Securities continued its El Paso Pipeline Partners EPB Hold rating in a research report published today. Wunderlich Securities has a $37 price target on El Paso Pipeline shares. In the report, Wunderlich Securities states, "El Paso Pipeline Partners, L.P. (EPB) announced a distribution of $0.49/unit for 3Q11, which was in line with our estimate. We recently downgraded El Paso to Hold based on the announcement that Kinder Morgan, Inc. (KMI-NR) was acquiring El Paso Corporation (EP-NR), EPB's general partner. Despite reassurances from the companies that they expect EPB to increase its distribution at an average annual growth rate of approximately 9% through 2015, we believe the negative sentiment around the deal will continue and depress the units' price." Shares of El Paso Pipeline were trading at $34.75 at the time of posting, up 0.29% from Friday's market close.