Energy stocks have been on a tear since giving up their August gains, they have now returned to October’s trading levels, as the SPDR Select Sector Fund - Energy Select Sector (ARCA: XLE) is down over 6% in the past month.
Wells Fargo analyst Praneeth Satish downgrades Magellan Midstream (NYSE:MMP) from Overweight to Equal-Weight and lowers the price target from $57 to $56.