3/12/14: Follow the Leaders

By Igor Greenwald • March 12, 2014

Portfolio Action Summary:

Legacy Resources (NSDQ: LGCY) downgraded to Sell
Genesis Energy (NYSE: GEL) downgraded to Hold
Energy Transfer Equity (NYSE: ETE) buy target raised to $52 from $46
Enlink Midstream (NYSE: ENLC) buy target raised to $40 from $37
Enterprise Products Partners (NYSE: EPD) buy target raised to $75 from $66
EQT Midstream (NYSE: EQM) buy target raised to $70 from $51
Magellan Midstream Partners (NYSE: MMP) buy target raised to $77 from $70
Oaktree Capital Group (NYSE: OAK) buy target lowered to $52 from $56
Sunoco Logistics (NYSE: SXL) buy target raised to $91 from $67
Targa Resources (NYSE: TRGP) buy target raised to $105 from $85
Williams (NYSE: WMB) buy target raised to $46 from $39

For more information, see the March issue of MLP Profits.

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Dzidra Spielberg

03/13/14 ‐ 9:13pm ET March 13, 2014 at 9:13pm ET

Why exactly did you single out Legacy to sell, apart from the general introductory discussion?

Igor Greenwald

03/14/14 ‐ 1:47am ET March 14, 2014 at 1:47am ET

I discussed Legacy in the Portfolio Update feature here: http://www.investingdaily.com/mlp-profits/articles/19731/follow-the-leaders/ In short its margins are shrinking and the usual route of growing by buying wells has become expensive in its “home” basin. If you want a safer, better and much cheaper producer consider Devon or ConocoPhillips, even though these are not MLPs.

Rick

03/14/14 ‐ 1:54pm ET March 14, 2014 at 1:54pm ET

please comment on Kinder Morgan’s unusual decision to confirm guidance mid-quarter. Seems that it could be very reassuring?

Igor Greenwald

03/14/14 ‐ 2:54pm ET March 14, 2014 at 2:54pm ET

Marginally. They weren’t down because someone didn’t think they’d make their guidance, and I doubt this will drive a trading turnaround, even though I very much hope to be proven wrong

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