Oneok Partners LP (OKS) Upgraded to Hold at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Oneok Partners LP (NYSE:OKS) from a sell rating to a hold rating in a report published on Monday. The brokerage currently has $42.00 target price on the stock, up from their prior target price of $40.00.
OKS has been the subject of several other reports. 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 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 $47.00 price objective for the company in a report on Friday, July 22nd. 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 report on Tuesday, October 4th. RBC Capital Markets reissued a sector perform rating and set a $40.00 price objective (up from $37.00) on shares of Oneok Partners in a report on Tuesday, August 16th. Finally, Citigroup Inc. boosted their price objective on Oneok Partners from $36.00 to $45.00 and gave the stock a buy rating in a report on Friday, June 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.88.
Oneok Partners (NYSE:OKS) traded down 0.95% during mid-day trading on Monday, reaching $39.69. 19,462 shares of the company traded hands. The company has a market capitalization of $11.34 billion, a P/E ratio of 33.75 and a beta of 0.39. Oneok Partners has a 52-week low of $21.86 and a 52-week high of $42.34. The stock has a 50 day moving average price of $38.91 and a 200-day moving average price of $38.08.
Oneok Partners (NYSE:OKS) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.14. During the same period in the previous year, the company earned $0.44 earnings per share. Analysts expect that Oneok Partners will post $2.26 EPS for the current fiscal year.
In related news, insider John William Gibson acquired 5,000 shares of the company’s 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 purchase, the insider now directly owns 105,000 shares in the company, valued at approximately $3,999,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Large investors have recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Oneok Partners by 990.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,964 shares of the company’s stock worth $399,000 after buying an additional 9,050 shares in the last quarter. Investment Centers of America Inc. bought a new stake in shares of Oneok Partners during the second quarter worth about $255,000. Harvest Fund Advisors LLC boosted its stake in shares of Oneok Partners by 11.9% in the second quarter. Harvest Fund Advisors LLC now owns 3,447,908 shares of the company’s stock worth $138,123,000 after buying an additional 367,010 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Oneok Partners during the second quarter worth about $2,494,000.
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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