Analyst Actions: Regency Energy Partners Downgraded To Neutral, PT Cut $1; Shares Down 2%

By Staff,

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Regency Energy Partners LP ( RGP ) has been downgraded to a Neutral rating from Outperform by analysts at Credit Suisse. The firm has also lowered its price target on the stock to $24 from $25 a share.

"We believe that distribution growth may not resume until 2014 given RGP's less than 1.0x coverage in 2012 and somewhat levered balance sheet as RGP continues its $1.2B build-out," said Credit Suisse. "By pushing distribution growth out to 2014, our three year distribution growth outlook drops from 6% to 3%."

Shares of RGP are down 2.44% to $23.17 in mid-day trade, amid a 52-week range of $20.58 - 26.94.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: RGP

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