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TCP - TC PipeLines LP News Story

$27.19 -0.6  -2.3%

Last Trade - 5:54pm

Market Cap £1.60bn
Enterprise Value £3.18bn
Revenue £308.7m
Position in Universe 1764th / 6389

BUZZ-Wells Fargo lowers PT of pipeline operators on regulator's tax ruling

Thu 22nd March, 2018 12:28pm
** Wells Fargo cuts PTs on U.S. Federal Energy Regulatory
Commission's revised pipeline tax rules
    ** Brokerage says FERC's ruling to cause near-term
headwinds, but broad-based selling an over-reaction
    ** Lowers 2019 EBITDA estimates by about 8 pct on cos which
are likely to be impacted by the ruling due to pipelines with
higher cost of service
    ** Brokerage says FERC ruling to likely not impact projects
in development but could impair future pipeline work  
    ** Downgrades TransCanada  TRP.TO  to 'market perform' from
'outperform' on impact of ruling and co's growing financing
needs
    ** Shares down premarket: Kinder Morgan  KMI.N  ~1 pct in
marginal trades, Energy Transfer Partners  ETP.N  0.7 pct
    
 Wells Fargo cuts PTs 
                                            New       Old
 Kinder Morgan  KMI.N                       $20       $21
 Energy Transfer Partners  ETP.N            $23       $24
 Williams Companies  WMB.N                  $40       $41
 Enbridge Energy Partners  EEP.N            $13       $16
 Boardwalk Pipeline Partners  BWP.N         $14       $15
 TC Pipelines  TCP.N                        $42       $59
 EQT Midstream  EQM.N                       $79       $80
 Dominion Energy Midstream  DM.N            $16       $32
 Tallgrass Energy Partners  TEP.N           $44       $45
 Spectra Energy Partners  SEP.N             $36       $46
 Energy Transfer Equity  ETE.N              $22       $23
 

 (Reporting by Anirban Paul)
 ((Reuters Messaging:
anirban.paul.thomsonreuters.com@reuters.net))
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