FY2017 Earnings Forecast for Oneok Partners LP Issued By Jefferies Group (OKS)
Oneok Partners LP (NYSE:OKS) – Research analysts at Jefferies Group cut their FY2017 earnings estimates for shares of Oneok Partners in a note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the firm will post earnings of $2.16 per share for the year, down from their previous estimate of $2.24. Jefferies Group currently has a “Hold” rating and a $41.00 target price on the stock.
Oneok Partners (NYSE:OKS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.14. During the same period last year, the firm earned $0.44 earnings per share.
Several other research analysts have also issued reports on OKS. Citigroup Inc. increased their target price on Oneok Partners from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, June 17th. Simmons reissued an “overweight” rating and issued a $45.00 target price (up previously from $42.00) on shares of Oneok Partners in a research report on Saturday, June 25th. 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. Robert W. Baird raised Oneok Partners from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $24.00 to $45.00 in a research report on Friday, August 12th. Finally, Royal Bank Of Canada increased their target price on Oneok Partners from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. Oneok Partners presently has an average rating of “Hold” and a consensus target price of $40.12.
Oneok Partners (NYSE:OKS) traded up 0.05% on Friday, reaching $41.44. The company’s stock had a trading volume of 668,600 shares. Oneok Partners has a 12-month low of $21.86 and a 12-month high of $42.34. The company’s 50 day moving average price is $38.99 and its 200-day moving average price is $38.14. The stock has a market cap of $11.84 billion, a PE ratio of 35.24 and a beta of 0.39.
In other news, insider John William Gibson purchased 5,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were purchased at an average cost of $38.09 per share, for a total transaction of $190,450.00. Following the purchase, the insider now directly owns 105,000 shares in the company, valued at approximately $3,999,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Advisors LLC increased its position 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. Blair William & Co. IL increased its position in Oneok Partners by 4.7% in the second quarter. Blair William & Co. IL now owns 99,403 shares of the company’s stock valued at $3,982,000 after buying an additional 4,500 shares during the period. ING Groep NV increased its position in Oneok Partners by 47.8% in the second quarter. ING Groep NV now owns 408,000 shares of the company’s stock valued at $16,344,000 after buying an additional 132,000 shares during the period. Mariner Wealth Advisors LLC increased its position in Oneok Partners by 12.0% in the first quarter. Mariner Wealth Advisors LLC now owns 37,934 shares of the company’s stock valued at $1,191,000 after buying an additional 4,052 shares during the period. Finally, Solaris Asset Management LLC increased its position in Oneok Partners by 1,205.0% in the second quarter. Solaris Asset Management LLC now owns 6,525 shares of the company’s stock valued at $261,000 after buying an additional 6,025 shares during the period.
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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