KNOCKING ON THE DOOR OF 300
FOR THE MLP INDEX
EARNINGS FROM SUBURBAN PROPANE
AND MORE ON A.G. EDWARDS AND CROSSTEX ENERGY!

The day begins at another new alltime high for the MLP index which starts the day at 298.24 so just 1.76 under the 300 level. With not much individual news driving the group today we may be at the mercy of what energy stocks do (they are weaker this morning in the pre-open) and the stock market itself which is a touch weaker but that really hasn't meant much recently.



Thursday brings us earnings from Suburban Propane (SPH) which showed an increase in net profit as revenues declined. Nothing else in the news department this morning as the earnings distribution cycle is past the peak. Crude oil is down this morning after trying 60 dollars for the third time yesterday and failing....rght now at 57.46. Stock futures are weak this morning on no particular news driver.

Crosstex LP (XTEX) has been selling off for 2 days now on a new A.G. Edwards report and downgrade from buy to hold. Granted its only been 2 points but basically the report is just less positive than before and pointing to slower distribution growth. This report is on the Yahoo Research group which is a great place to read reports like this one. The link is also located on the blogroll. A.G. Edwards also issued a downgrade and report on Atlas Pipeline Partners(APL) which is along the same theme as Crosstex; saying the company is at fair value and not much upside from here based on visibility and commodity exposure.

This morning we have Wachovia starting Atlas Resource (ATN) at a neutral. Nothing else on the upgrade downgrade list.

So here comes the open and i'll post after the noise is done.