Oneok Partners LP (OKS) Downgraded to “Neutral” at Piper Jaffray Cos.
Piper Jaffray Cos. cut shares of Oneok Partners LP (NYSE:OKS) from an overweight rating to a neutral rating in a research note issued to investors on Thursday. They currently have $44.00 target price on the stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Oneok Partners from a hold rating to a buy rating and set a $47.00 price target for the company in a research report on Friday, July 22nd. Jefferies Group increased their price target on shares of Oneok Partners from $40.00 to $41.00 and gave the stock a hold rating in a research report on Monday, July 25th. Citigroup Inc. upped their price objective on shares of Oneok Partners from $36.00 to $45.00 and gave the stock a buy rating in a research note on Friday, June 17th. Robert W. Baird raised shares of Oneok Partners from an underperform rating to a neutral rating and upped their price objective for the stock from $24.00 to $45.00 in a research note on Friday, August 12th. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $40.00 price objective (up from $37.00) on shares of Oneok Partners in a research note on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Oneok Partners presently has a consensus rating of Hold and a consensus target price of $40.12.
Shares of Oneok Partners (NYSE:OKS) traded down 1.11% during midday trading on Thursday, reaching $40.96. The company had a trading volume of 285,335 shares. The company has a market capitalization of $11.71 billion, a P/E ratio of 34.83 and a beta of 0.39. The firm’s 50 day moving average price is $38.99 and its 200-day moving average price is $38.14. 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 results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.14. During the same period in the previous year, the business earned $0.44 EPS. Analysts anticipate that Oneok Partners will post $2.26 earnings per share for the current fiscal year.
In other news, insider John William Gibson bought 5,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were bought at an average cost of $38.09 per share, for a total transaction of $190,450.00. Following the completion of the acquisition, the insider now owns 105,000 shares in the company, valued at approximately $3,999,450. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Several large investors have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC raised 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 during the last quarter. Kings Point Capital Management raised 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 during the last quarter. Advisory Services Network LLC raised 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 during the last quarter. Comerica Bank bought a new stake in shares of Oneok Partners during the second quarter worth approximately $202,000. Finally, Saratoga Research & Investment Management bought a new stake in shares of Oneok Partners during the second quarter worth approximately $214,000.
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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