Global Hunter Securities Downgrades ONEOK Partners (OKS) to Accumulate; NGL Price Concerns at the Forefront

July 2, 2012 8:56 AM EDT
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Price: $43.87 +0.73%

Rating Summary:
    5 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Global Hunter Securities downgraded ONEOK Partners (NYSE: OKS) from Buy to Accumulate with a price target of $57.00 (from $62.00).

Analyst, Bernard Colson, said, "We believe a weakening US economy, high propane inventories (and prices) and continued weakness in natural gas prices all indicate a higher risk that NGL prices stay lower for longer. This results in caution toward the gathering & processing subsegment. We recommend positioning defensively going into the Q2:12 reporting season, favoring fee-based, diversified MLPs with low exposure to unhedged NGLs."

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 $53.75 yesterday.

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