Oneok Partners LP (NYSE:OKS) – Investment analysts at Jefferies Group decreased their FY2017 earnings estimates for shares of Oneok Partners in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the brokerage will earn $2.16 per share for the year, down from their prior forecast of $2.24. Jefferies Group currently has a “Hold” rating and a $41.00 price target on the stock.
Oneok Partners (NYSE:OKS) last posted its quarterly earnings results 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 quarter in the prior year, the business earned $0.44 earnings per share.
A number of other research firms have also recently weighed in on OKS. Zacks Investment Research raised shares of Oneok Partners from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, July 22nd. RBC Capital Markets reiterated a “sector perform” rating and set a $40.00 price target (up previously from $37.00) on shares of Oneok Partners in a report on Tuesday, August 16th. Royal Bank Of Canada lifted 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. Piper Jaffray Cos. lowered shares of Oneok Partners from an “overweight” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Thursday. Finally, Robert W. Baird upgraded shares of Oneok Partners from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $24.00 to $45.00 in a report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.12.
Oneok Partners (NYSE:OKS) traded down 0.10% during mid-day trading on Friday, hitting $41.38. 850,739 shares of the company were exchanged. The company’s 50-day moving average is $39.03 and its 200 day moving average is $38.23. The company has a market capitalization of $11.83 billion, a P/E ratio of 35.19 and a beta of 0.39. Oneok Partners has a 12-month low of $21.86 and a 12-month high of $42.34.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKS. Spirit of America Management Corp NY bought a new position in Oneok Partners during the third quarter worth $3,252,000. Duff & Phelps Investment Management Co. boosted its stake in shares of Oneok Partners by 86.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 469,291 shares of the company’s stock worth $18,748,000 after buying an additional 217,500 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Oneok Partners by 2.0% in the third quarter. Prospera Financial Services Inc now owns 6,297 shares of the company’s stock worth $252,000 after buying an additional 125 shares during the last quarter. Creative Planning boosted its stake in shares of Oneok Partners by 5.8% in the third quarter. Creative Planning now owns 976,645 shares of the company’s stock worth $39,017,000 after buying an additional 53,369 shares during the last quarter. Finally, Ronna Sue Cohen boosted its stake in shares of Oneok Partners by 1.1% in the third quarter. Ronna Sue Cohen now owns 69,209 shares of the company’s stock worth $2,765,000 after buying an additional 741 shares during the last quarter.
In other news, insider John William Gibson acquired 5,000 shares of Oneok Partners stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $38.09 per share, with a total value of $190,450.00. Following the transaction, the insider now owns 105,000 shares of the company’s stock, valued at approximately $3,999,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
About Oneok Partners
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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