El Paso Pipeline (NYSE:EPB) EPS Estimates Raised by Barclays (NYSE:BCS)

Barclays (NYSE:BCS) says they're raising their EPS estimates on El Paso Pipeline (NYSE:EPB), citing the recent acquisition of the remaining interests in Southern LNG Company and Elba Express Company.

"We are updating our earnings estimates and distribution outlook in conjunction with our recent revisions to our EP forecast. Our new model reflects the recent transaction in which EPB acquired the remaining 49% interests in both Southern LNG Company and Elba Express Company as well as an additional 15% interest in Southern Natural Gas from EP....FY11 EPS lowered from $1.98 to $1.96 and FY12 raised from $2.18 to $2.49," said Barclays.

Barclays maintains an "Overweight" rating on El Paso Pipeline Partners, which was trading at $32.84, down $0.16, or 0.48 percent, as of 1:16 PM EST. They increased their price target on them from $35 to $36.