Oneok Partners LP (NYSE:OKS) was downgraded by stock analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report released on Thursday. They presently have a $44.00 price target on the stock. Piper Jaffray Cos.’s price objective would indicate a potential upside of 6.33% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus raised Oneok Partners from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Zacks Investment Research raised Oneok Partners from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, July 11th. Citigroup Inc. upped their price objective on Oneok Partners from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, June 17th. Morgan Stanley cut Oneok Partners from an “overweight” rating to an “equal weight” rating and set a $45.00 price objective for the company. in a research report on Tuesday, October 4th. Finally, Deutsche Bank AG raised Oneok Partners from a “sell” rating to a “hold” rating and upped their price objective for the stock from $40.00 to $42.00 in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Oneok Partners currently has a consensus rating of “Hold” and a consensus price target of $40.18.
Oneok Partners (NYSE:OKS) opened at 41.38 on Thursday. The company has a market capitalization of $11.83 billion, a P/E ratio of 35.19 and a beta of 0.39. The firm has a 50-day moving average price of $39.03 and a 200 day moving average price of $38.23. Oneok Partners has a 12 month low of $21.86 and a 12 month high of $42.34.
Oneok Partners (NYSE:OKS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.54 by $0.14. During the same period in the prior year, the business earned $0.44 earnings per share. Analysts expect that Oneok Partners will post $2.26 EPS for the current year.
In other news, insider John William Gibson bought 5,000 shares of the stock in a transaction dated Monday, September 12th. The shares were bought at an average price of $38.09 per share, for a total transaction of $190,450.00. Following the completion of the purchase, the insider now owns 105,000 shares in the company, valued at $3,999,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Institutional investors have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position 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 during the period. Kings Point Capital Management raised its position 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 during the period. Advisory Services Network LLC raised its position in shares of Oneok Partners by 106.3% in the third quarter. Advisory Services Network LLC now owns 4,950 shares of the company’s stock worth $198,000 after buying an additional 2,550 shares during the period. Comerica Bank purchased a new position in shares of Oneok Partners during the second quarter worth $202,000. Finally, Saratoga Research & Investment Management purchased a new position in shares of Oneok Partners during the second quarter worth $214,000.
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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