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UPDATE: Credit Suisse Downgrades ONEOK Partners to Neutral Lower Distribution Guidance

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Credit Suisse downgraded ONEOK Partners (NYSE: OKS) from Outperform to Neutral and lowered the price target from $65.00 to $58.00.

Credit Suisse commented, "OneOk Partners (OKS) has over $4B of fee-based projects to be placed in service over the next three years. But OKS is a victim of weak NGL prices and collapsing Conway-Belvieu spreads, undercutting OKS prospects in 2013. Management has cut its distribution growth /unit by 850bp, to 2.8% in 2013. We are downgrading OKS units to Neutral (from Outperform)."

ONEOK Partners closed at $56.83 on Monday.

Latest Ratings for OKS

DateFirmActionFromTo
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015Credit SuisseMaintainsOutperform
Jan 2015JefferiesMaintainsBuy

View More Analyst Ratings for OKS
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

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