UBS Maintains a 'Neutral' on TECO Energy (TE); Adusting Numbers; Dividend Safe?

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UBS maintains a 'Neutral' on TECO Energy (NYSE: TE) price target lowered from $18.50 to $18.00.

Analyst, Jim von Riesemann, said, "We are lowering our 2012 and 2013 EPS estimates by two pennies and a penny to $1.34 and $1.44 a share, respectively. Similarly, our 2014 EPS estimate is being reduced by a nickel to $1.52 a share. The reductions incorporate our coal analyst’s revised price deck and assume no underlying change in deliveries of the contracted thermal coal positions in either 2012 or 2013."

Riesemann expects the company's dividend to remain safe and TE has sufficient cash to meet obligations through 2015.

For an analyst ratings summary and ratings history on TECO Energy click here. For more ratings news on TECO Energy click here.

Shares of TECO Energy closed at $17.63 yesterday, with a 52 week range of $15.82-$19.66.

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