Wunderlich's MLP Weekly Update: Pain Then Pleasure

Wunderlich Securities has published its weekly update for MLPs, which have outperformed the market year to date, with the influx of $3B in new long-only MLP CEF capital supporting MLP valuations, expected to recede around 4Q2010.

Targets on Alerian MLP Total Return Index (AMZ.X) Tortoise MLP TR Index (TMLPT) and Cushing 30 MLP TR Index (MLPXTR) are for $315, $319, and $331, offering 4.5%, 13%, and 16.1% return potential, respectively.

Wunderlich reiterates ratings on its monitored MLPs, including:

Buckeye GP Holdings ((NYSE: BGH) Hold), Buckeye Partners LP ((NYSE: BPL) Hold), Kayne Anderson MLP Investment Co. ((NYSE: KYN) Hold), Sunoco Logistics Partners, LP ((NYSE: SXL) Hold);

Energy Income & Growth Fund ((AMEX: FEN) Buy), Legacy Reserves, LP ((NASDAQ: LGCY) Buy), Tortoise North American Energy Corp. ((NYSE: TYN) Buy), Vanguard Natural Resources LLC ((NYSE: VNR) Buy).

See Some of the Top Moving Indexes Here.