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ONEOK Partners (OKS -4.4%) drops sharply after Credit Suisse downgrades OKS to Neutral and cut...

  • Tuesday, February 26, 12:21 PM ET
    ONEOK Partners (OKS -4.4%) drops sharply after Credit Suisse downgrades OKS to Neutral and cut its target price to $58 from $67. OKS will have $4B-plus of fee-based projects placed in service over the next three years, but CS says it is a victim of weak natural gas liquids prices and collapsing spreads, undercutting prospects. Distribution growth/unit was cut by 850bp, to 2.8%, for 2013.
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This news story has 2 comments:

  •  
    4.4% drop today (10%+ over last 5 days) is a big market overreaction to forecasted reduction in growth of distribution (still going up, slightly slower). Another chance to get in at last December's lows. I sold last week near 60, bought back today near 54.
    26 Feb, 04:46 PM Reply Like
  •  
    I love the 5%, divd.....long term this company is well managed
    And a good holding.
    26 Feb, 09:48 PM Reply Like
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