UBS Q2 Review on ONEOK Inc (OKE); Adjusting Estimates and Price Target on Small EPS Miss
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Price: $48.19 --0%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade OKE Now!
UBS maintains a 'Buy' on ONEOK Inc (NYSE: OKE) price target of $50.00 (from $47.00).
Analyst, Christopher P. Sighinolfi, said, "OKE realized recurring 2Q EPS of $0.29, slightly below our $0.31 estimate and the $0.34 Street consensus expectation. Weaker than anticipated results from Energy Services crimped EBIT, though the shortfall was partially offset by below-forecast Interest and Tax expenses, muting the impact on EPS. We highlight that a slower than expected deployment of 2012 capex has limited borrowing (vs UBS forecasts) and help mitigate Interest expense."
"Given projected ONEOK Partners (NYSE: OKS) distribution growth, OKE IDRs, and share buybacks, we continue to expect a 2011-16 dividend CAGR of 15%; we maintain our rating."
FY12 EPS estimate lowered from $1.66 to $1.64, FY13 maintained at $1.85.
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 $44.51 yesterday, with a 52 week range of $39.32-$89.63.
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Analyst, Christopher P. Sighinolfi, said, "OKE realized recurring 2Q EPS of $0.29, slightly below our $0.31 estimate and the $0.34 Street consensus expectation. Weaker than anticipated results from Energy Services crimped EBIT, though the shortfall was partially offset by below-forecast Interest and Tax expenses, muting the impact on EPS. We highlight that a slower than expected deployment of 2012 capex has limited borrowing (vs UBS forecasts) and help mitigate Interest expense."
"Given projected ONEOK Partners (NYSE: OKS) distribution growth, OKE IDRs, and share buybacks, we continue to expect a 2011-16 dividend CAGR of 15%; we maintain our rating."
FY12 EPS estimate lowered from $1.66 to $1.64, FY13 maintained at $1.85.
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 $44.51 yesterday, with a 52 week range of $39.32-$89.63.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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