UPDATE: Morgan Keegan Lowering Price Target On El Paso Pipeline Partners, L.P .

Morgan Keegan is lowering its price target on shares of El Paso Pipeline Partners, L.P. EPB to $42 from $42.50, but it has an Outperform rating on shares. In a note to clients, Morgan Keegan writes, "EPB announced Wednesday it had acquired an additional 28% in Colorado Interstate Gas Company (CIG) and the remaining 15% in Southern Natural Gas Company (SNG) from El Paso Corporation(EP not rated) for $745mm (plus debt)." Shares of EPB closed at $34.75 yesterday.