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 research report released on Monday morning. They currently have $42.00 target price on the stock, up from their prior target price of $40.00.
A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Oneok Partners from an underweight rating to a neutral rating and lifted their price objective for the company from $34.00 to $40.00 in a research note on Monday, September 5th. Simmons restated an overweight rating and issued a $45.00 price objective (up from $42.00) on shares of Oneok Partners in a research note on Saturday, June 25th. Robert W. Baird upgraded shares of Oneok Partners from an underperform rating to a neutral rating and lifted their price objective for the company from $24.00 to $45.00 in a research note on Friday, August 12th. Stifel Nicolaus upgraded shares of Oneok Partners from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research note on Tuesday, September 13th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded shares of Oneok Partners from an overweight rating to an equal weight rating and set a $45.00 target price on the stock. in a report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $39.88.
Shares of Oneok Partners (NYSE:OKS) traded down 0.95% during midday trading on Monday, hitting $39.69. 19,462 shares of the stock were exchanged. The company has a market cap of $11.34 billion, a PE ratio of 33.75 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 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 posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by $0.14. During the same quarter in the prior year, the business posted $0.44 EPS. On average, 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 the firm’s stock in a transaction dated Monday, September 12th. The stock was acquired at an average cost of $38.09 per share, for a total transaction of $190,450.00. Following the completion of the purchase, the insider now owns 105,000 shares of the company’s stock, valued at $3,999,450. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted 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 valued at $105,000 after buying an additional 125 shares in the last quarter. Kings Point Capital Management boosted 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 valued at $173,000 after buying an additional 3,130 shares in the last quarter. Advisory Services Network LLC boosted its stake in Oneok Partners by 106.3% in the third quarter. Advisory Services Network LLC now owns 4,950 shares of the company’s stock valued at $198,000 after buying an additional 2,550 shares in the last quarter. Comerica Bank bought a new stake in Oneok Partners during the second quarter valued at about $202,000. Finally, Saratoga Research & Investment Management bought a new stake in Oneok Partners during the second quarter valued at about $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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