Deutsche Bank Upgrades ONEOK Partners (OKS) to Hold

October 10, 2016 6:54 AM EDT
Get Alerts OKS Hot Sheet
Price: $43.60 -0.62%

Rating Summary:
    5 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Deutsche Bank upgraded ONEOK Partners (NYSE: OKS) from Sell to Hold with a price target of $42.00 (from $40.00).

Analyst Kristina Kazarian siad, "Our PT is based off a target yield (7.5% yield on our CY17 DPU estimate of $3.16) and a DDM (9.75% discount rate and 2.0% terminal growth rate, in-line with the industry avg.). Potential upside risks: 1) Improvement in commodity prices (NGLs), 2) more re-contracting to fee-based margins vs. POP, and 3) quicker resumption of distributions. Potential downside risks: 1) Lower commodity prices, 2) illiquid / unattractive capital markets, 3) rising rates, and 4) lower guidance."

For an analyst ratings summary and ratings history on ONEOK Partners click here. For more ratings news on ONEOK Partners click here.

Shares of ONEOK Partners closed at $39.05 yesterday.

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