Oneok Partners LP (OKS) Lowered to “Equal Weight” at Morgan Stanley
Morgan Stanley downgraded shares of Oneok Partners LP (NYSE:OKS) from an overweight rating to an equal weight rating in a report released on Tuesday. Morgan Stanley currently has $45.00 price target on the stock.
A number of other brokerages have also weighed in on OKS. Robert W. Baird raised Oneok Partners from an underperform rating to a neutral rating and lifted their target price for the company from $24.00 to $45.00 in a research report on Friday, August 12th. Jefferies Group lifted their target price on Oneok Partners from $40.00 to $41.00 and gave the company a hold rating in a research report on Monday, July 25th. Royal Bank Of Canada lifted their target price on Oneok Partners from $37.00 to $40.00 and gave the company a sector perform rating in a research report on Tuesday, August 16th. JPMorgan Chase & Co. raised Oneok Partners from an underweight rating to a neutral rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Monday, September 5th. Finally, Zacks Investment Research raised Oneok Partners from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Monday, July 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Oneok Partners presently has an average rating of Hold and an average target price of $38.94.
Oneok Partners (NYSE:OKS) traded down 0.63% during midday trading on Tuesday, hitting $39.28. The company had a trading volume of 76,493 shares. The stock has a 50 day moving average price of $39.13 and a 200-day moving average price of $37.81. The stock has a market capitalization of $11.23 billion, a PE ratio of 33.40 and a beta of 0.39. Oneok Partners has a 52 week low of $21.86 and a 52 week high of $42.34.
Oneok Partners (NYSE:OKS) last issued 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 period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts predict that Oneok Partners will post $2.26 EPS for the current year.
In other news, insider John William Gibson bought 5,000 shares of Oneok Partners stock in a transaction on Monday, September 12th. The stock was acquired at an average price of $38.09 per share, with a total value of $190,450.00. Following the completion of the acquisition, the insider now directly owns 105,000 shares of the company’s stock, valued at $3,999,450. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Large investors have recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in 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 stake in 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. Comerica Bank bought a new stake in Oneok Partners during the second quarter worth about $202,000. Saratoga Research & Investment Management bought a new stake in Oneok Partners during the second quarter worth about $214,000. Finally, WealthTrust Axiom LLC bought a new stake in Oneok Partners during the second quarter worth about $216,000.
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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