Oneok Partners LP (NYSE:OKS) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday. They presently have a $45.00 target price on the stock. Morgan Stanley’s target price would indicate a potential upside of 15.41% from the stock’s previous close.
A number of other research firms have also weighed in on OKS. Jefferies Group increased their price objective on shares of Oneok Partners from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, July 25th. Zacks Investment Research raised shares of Oneok Partners from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Friday, July 22nd. RBC Capital Markets reissued a “sector perform” rating and set a $40.00 price target (up from $37.00) on shares of Oneok Partners in a report on Tuesday, August 16th. Royal Bank Of Canada increased their price target on shares of Oneok Partners from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 16th. Finally, Robert W. Baird raised shares of Oneok Partners from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $24.00 to $45.00 in a report on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Oneok Partners has an average rating of “Hold” and a consensus target price of $38.94.
Shares of Oneok Partners (NYSE:OKS) opened at 38.99 on Tuesday. Oneok Partners has a 12-month low of $21.86 and a 12-month high of $42.34. The company has a market capitalization of $11.14 billion, a P/E ratio of 33.15 and a beta of 0.39. The stock has a 50 day moving average of $39.05 and a 200-day moving average of $37.82.
Oneok Partners (NYSE:OKS) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.14. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts forecast that Oneok Partners will post $2.26 EPS for the current year.
In other news, insider John William Gibson acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was purchased at an average cost of $38.09 per share, for a total transaction of $190,450.00. Following the completion of the transaction, the insider now owns 105,000 shares in the company, valued at $3,999,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of large investors have recently added to or reduced their stakes in OKS. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Oneok Partners by 5.0% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,613 shares of the company’s stock worth $105,000 after buying an additional 125 shares in the last quarter. Kings Point Capital Management boosted its stake in shares of Oneok Partners by 260.8% in the second quarter. Kings Point Capital Management now owns 4,330 shares of the company’s stock worth $173,000 after buying an additional 3,130 shares in the last quarter. Comerica Bank bought a new stake in shares of Oneok Partners during the second quarter worth $202,000. Saratoga Research & Investment Management bought a new stake in shares of Oneok Partners during the second quarter worth $214,000. Finally, WealthTrust Axiom LLC bought a new stake in shares of Oneok Partners during the second quarter worth $216,000.
Oneok Partners Company Profile
ONEOK Partners, L.P. is engaged in gathering, processing, storage and transportation of natural gas in the United States. In addition, the Company owns natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent, Permian and Rocky Mountain regions. The Company’s segments are Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.
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