UPDATE: UBS Downgrades TECO Energy (TE) to Sell; Cutting Estimates on Lowered Production Expectations
Tweet
Share
E-mailGet Alerts TE Hot Sheet
Price: $5.11 +6.68%
Rating Summary:
7 Buy, 8 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 8 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
(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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- T1 Energy Inc. (TE) PT Raised to $9 at BTIG
- LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
- Zedcor Inc (ZDC:CN) PT Raised to Cdn$7.75 at Desjardins
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
