ONEOK Inc. (OKE) for High Yield - Sept 30

[dan_s]

BofA Equity Research put out a new report on OKE this morning.

OKE is trading at $26.89 at the time of this post.
Annual dividend yield is 13.9% based on the price above.

BofA lowered their price target from $35 to $31, which compares to my valuation of $32.

Most important, BofA concludes that OKE will generate free cash flow after dividends of over $200 million, so they should hold the dividend constant at $0.935/Qtr.