Oneok Partners LP Rating Reiterated by Zacks (OKS)
Oneok Partners LP (NYSE:OKS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, Stock Ratings Network.com reports. They currently have a $54.00 price target on the stock. Zacks‘ target price suggests a potential upside of 4.92% from the company’s current price.
Zacks‘ analyst wrote, “ONEOK Partners L.P.’s earnings per unit and revenues in the second quarter of 2013 surpassed the Zacks Consensus Estimates primarily due to higher natural gas volumes gathered, compressed, processed, transported and sold as a result of increase in well connections. This was partially offset by narrower natural gas liquids (NGL) price differentials and continuous decline in NGL optimization margins. ONEOK Partners’ geographically diversified asset base, stable liquidity position, strong projects pipeline, completion of several projects and acquisitions strategy should boost its future performance. On the flip side, volatile commodity pricing and stringent utility regulations make us cautious. Hence, we maintain our Neutral recommendation on the stock.”
A number of other firms have also recently commented on OKS. Analysts at JPMorgan Chase & Co. raised their price target on shares of Oneok Partners LP from $55.00 to $56.00 in a research note to investors on Wednesday, September 25th. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Oneok Partners LP in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $57.00 price target on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of Oneok Partners LP in a research note to investors on Tuesday, September 3rd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Oneok Partners LP presently has a consensus rating of “Hold” and a consensus price target of $55.92.
Oneok Partners LP (NYSE:OKS) traded up 0.98% on Thursday, hitting $51.974. The stock had a trading volume of 73,158 shares. Oneok Partners LP has a 1-year low of $45.40 and a 1-year high of $61.34. The stock has a 50-day moving average of $51.59 and a 200-day moving average of $51.82. The company has a market cap of $11.440 billion and a price-to-earnings ratio of 20.74.
Oneok Partners LP (NYSE:OKS) last announced its earnings results on Tuesday, July 30th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.06. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, analysts predict that Oneok Partners LP will post $2.34 earnings per share for the current fiscal year.
ONEOK Partners, L.P. (NYSE:OKS) is engaged in gathering, processing, storage and transportation of natural gas in the United States.
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