Deutsche Bank Starts ONEOK (OKE) and ONEOK Partners (OKS) at Sell
Get Alerts OKE Hot Sheet
Rating Summary:
13 Buy, 16 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 13 | New: 16
Join SI Premium – FREE
Deutsche Bank initiated coverage on ONEOK Inc (NYSE: OKE) with a Sell rating and a price target of $43. ONEOK Partners (NYSE: OKS) was initiated at Sell with a price target of $38. Analyst Kristina Kazarian suggest there may be another guidance cut at the company.
"While the ONEOK complex’s leverage to the major domestic shale plays has resulted in 8%+ DPU and 20%+ DPS CAGR since 2011, we think the current market conditions present more headwinds than opportunities over the next 12-18 months," said Kazarian.
"The commodity downturn has highlighted OKEOK’s commodity sensitivity, resulting in breaking the track record of 22 consecutive quarterly distribution increases and an outlook of sub-1.0x coverage for CY15. While we are only half way through the year, without an improvement in prices, we think OKS right now is positioned to come in at the low end of current guidance of 3-5% and see risk of reducing guidance (again) / providing nominal to no growth guidance going into CY16," added the analyst.
For an analyst ratings summary and ratings history on ONEOK Inc click here. For more ratings news on ONEOK Inc click here.
Shares of ONEOK Inc closed at $45.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Upgrades Topdanmark (TOP:DC) (TPDKY) to Hold
- Fuchs Petrolub SE (FPE3:GR) (FUPBY) PT Raised to EUR45 at Stifel
- Stifel Downgrades Shield Therapeutics PLC (STX:LN) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, New CoverageRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!