Oneok Partners LP (OKS) Downgraded by Piper Jaffray Cos.
Oneok Partners LP (NYSE:OKS) was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.
Other equities analysts 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 target 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 $46.00 price target for the company in a report on Monday, July 11th. Citigroup Inc. upped their price target on Oneok Partners from $36.00 to $45.00 and gave the company a “buy” rating in a report on Friday, June 17th. Morgan Stanley downgraded Oneok Partners from an “overweight” rating to an “equal weight” rating and set a $45.00 price target for the company. in a report on Tuesday, October 4th. Finally, Deutsche Bank AG raised Oneok Partners from a “sell” rating to a “hold” rating and upped their price target for the company from $40.00 to $42.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Oneok Partners has an average rating of “Hold” and an average price target of $39.88.
Oneok Partners (NYSE:OKS) opened at 41.04 on Thursday. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 34.90 and a beta of 0.39. Oneok Partners has a 12-month low of $21.86 and a 12-month high of $42.34. The stock’s 50 day moving average is $38.95 and its 200 day moving average is $38.12.
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Oneok Partners (NYSE:OKS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.14. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities research analysts forecast that Oneok Partners will post $2.26 EPS for the current fiscal year.
In related news, insider John William Gibson purchased 5,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was acquired 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 directly owns 105,000 shares of the company’s stock, valued at $3,999,450. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in Oneok Partners during the second quarter valued at approximately $114,775,000. Energy Income Partners LLC boosted its stake in Oneok Partners by 378.8% in the first quarter. Energy Income Partners LLC now owns 3,109,540 shares of the company’s stock valued at $97,639,000 after buying an additional 2,460,062 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in Oneok Partners by 5.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 17,232,926 shares of the company’s stock valued at $690,351,000 after buying an additional 899,275 shares during the period. Harvest Fund Advisors LLC boosted its stake in Oneok Partners by 13.7% in the first quarter. Harvest Fund Advisors LLC now owns 3,080,898 shares of the company’s stock valued at $96,740,000 after buying an additional 370,155 shares during the period. Finally, ING Groep NV bought a new stake in Oneok Partners during the first quarter valued at approximately $8,683,000.
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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