Credit Suisse Starts ONEOK Inc (OKE) at Neutral

Credit Suisse initiates coverage on ONEOK Inc (NYSE: OKE) with a Neutral rating and a price target of $41.00.

Analyst J. Edwards commented, "OKE is thepure-playgeneral partner of ONEOK Partners (OKS, Outperform, $40TP), receiving 100% of its cash flow from its GP and LP interests in OKS. Our Neutral rating is attributed to the following factors: OKE's dividend growth relative to other GP's is below average. OKE 2-year dividend CAGR of 7.2% well below peer average of 18.5% and indicates lower relative total return relative to GP and MLP peers. OKS' commodity exposure is above average relative to MLPs overall. Over 1/3 of OKS' margin dollars are exposed to commodity prices in a normal market. "

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 $35.19 yesterday.

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