The S&P Energy Index (+1.3%) is trading to the upside this morning and is currently outperforming gains in the broader market (+1.0%).
Sector News: WES (-3.0%) announced and priced a 5 million common unit offering representing limited partner interests at $35.86/unit. WMB (+0.8%) reaffirmed its 2011 EPS guidance of $1.35-1.85 vs $1.56 Capital IQ Consensus est; guided 2012 EPS of $1.15-1.60 vs. $1.81 consensus; said it sees 2013 EPS of $1.15-1.80 vs. $2.11 consensus.
Broker Calls: PER (-0.3%) was initiated with an Outperform at Raymond James; was initiated with a Market Perform at Wells Fargo; was initiated with a Buy at Wunderlich; and was initiated with a Mkt Perform at Morgan Keegan. CHKM (-0.5%) Was initiated with an Outperform at Credit Suisse. ESV (+1.5%) and RDC (+1.1%) were upgraded to Focus List at Howard Weil. REXX (+13.9%) was upgraded to Buy at Brean Murray.






