EARNINGS, OFFERINGS AND UPGRADES

Busy morning out there with lots going on so lets get the ball rolling with earnings from Williams LP (WPZ) as opposed to Williams LP (WMZ) which also posts earnings this morning and the info is on the same press release. Also Williams (all three including the parent) announced yesterday that they have completed their transaction that will boost future distribution growth. Also putting up earnings is TC Pipelines (TCLP). BTW there has been a tendency for individual mlps to sell off a bit on earnings on a buy the rumor sell the news type action. In the land of upgrades downgrades Barclays leaves Enbridge Energy Partners (EEP) at equal weight but raises the target price to 52 bucks. And finally we have a secondary offering from Boardwalk Partners (BWP) and the stock is down 1 and some change this morning.

MLPS closed up 2 points yesterday and back over 290 as the march to the 300 recent high continues. Stock futures have sold off a bit on PPI and the jobless claims number. Bonds are rallying a bit this morning on this news. Looks like a lower open but nothing tragic ahead for us. The dollar is rallying sharply this morning.