UPDATE: UBS Downgrades TECO Energy (TE) to Sell; Cutting Estimates on Lowered Production Expectations
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Price: $19.12 --0%
Rating Summary:
1 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 18 | New: 10
Rating Summary:
1 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 18 | New: 10
Trade TE Now!
(Updated - September 7, 2012 10:52 AM EDT)
UBS downgraded TECO Energy (NYSE: TE) from Neutral to Sell. PT lowered from $17.50 to $15.50.
Analyst, Jim von Riesemann, said, "In our view, three issues make us increasingly cautious on TE shares in the near-term: (1) material lower pricing and production expectations at the coal business; (2) declining earned utility returns prospectively and the potential need to file for rate relief sooner-than-expected in an allowed ROE environment below current authorized levels; and (3) increasing pressure on cash flows to meet parent debt obligations; and, cause us to lower our rating."
FY12 EPS Estimate lowered from $1.24 to $1.23 and FY13 from $1.35 to $1.18.
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 $17.60 yesterday, with a 52 week range of $16.15-$19.41.
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UBS downgraded TECO Energy (NYSE: TE) from Neutral to Sell. PT lowered from $17.50 to $15.50.
Analyst, Jim von Riesemann, said, "In our view, three issues make us increasingly cautious on TE shares in the near-term: (1) material lower pricing and production expectations at the coal business; (2) declining earned utility returns prospectively and the potential need to file for rate relief sooner-than-expected in an allowed ROE environment below current authorized levels; and (3) increasing pressure on cash flows to meet parent debt obligations; and, cause us to lower our rating."
FY12 EPS Estimate lowered from $1.24 to $1.23 and FY13 from $1.35 to $1.18.
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 $17.60 yesterday, with a 52 week range of $16.15-$19.41.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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