Morgan Keegan Lowering Estimates On Spectra Energy Partners (SEP)

Morgan Keegan is lowering its 2011 estimates on shares of Spectra Energy Partners SEP, and is lowering its price target to $39 from $41. It has a Hold rating on shares. In a note to clients, Morgan Keegan writes, "Given the EBITDA decline and reduced estimates and coverage, we are raising our target yield range to 5%-5.25% which lowers our price target by $2 to $39. We forecast a 12-mo valuation range of $38-$40 for an estimated total return potential of approx 21-27%." Shares of SEP lost 24 cents on Friday to close at $32.90, a loss of 0.7%.