Trading Report: The Oneok Partners LP (OKS) Lowered to “Equal Weight” at Morgan Stanley

The Oneok Partners LP (OKS) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Oneok Partners LP (NYSE:OKS) from an overweight rating to an equal weight rating in a research note published on Tuesday. The firm currently has $45.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus raised Oneok Partners from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Tuesday, September 13th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised 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 report on Monday, September 5th. RBC Capital Markets reaffirmed a sector perform rating and issued a $40.00 price objective (up previously from $37.00) on shares of Oneok Partners in a report on Tuesday, August 16th. Royal Bank Of Canada lifted their price target on shares of Oneok Partners from $37.00 to $40.00 and gave the company a sector perform rating in a research report on Tuesday, August 16th. Finally, Robert W. Baird upgraded shares of Oneok Partners from an underperform rating to a neutral rating and lifted their price target for the company from $24.00 to $45.00 in a research report on Friday, August 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $38.94.

Shares of Oneok Partners (NYSE:OKS) traded down 0.63% on Tuesday, reaching $39.28. The company had a trading volume of 76,493 shares. The firm has a 50-day moving average price of $39.13 and a 200 day moving average price of $37.81. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 33.40 and a beta of 0.39. Oneok Partners has a 1-year low of $21.86 and a 1-year high of $42.34.

Oneok Partners (NYSE:OKS) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.14. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities research analysts predict that Oneok Partners will post $2.26 earnings per share for the current year.

In related news, insider John William Gibson acquired 5,000 shares of the stock in a transaction dated Monday, September 12th. The stock was bought at an average cost of $38.09 per share, with a total value of $190,450.00. Following the purchase, the insider now directly owns 105,000 shares of the company’s stock, valued at $3,999,450. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge funds have recently made changes to their positions in the stock. Harvest Fund Advisors LLC boosted its stake in shares of Oneok Partners by 13.7% in the first quarter. Harvest Fund Advisors LLC now owns 3,080,898 shares of the company’s stock worth $96,740,000 after buying an additional 370,155 shares during the period. Blair William & Co. IL boosted its stake in shares of Oneok Partners by 4.7% in the second quarter. Blair William & Co. IL now owns 99,403 shares of the company’s stock worth $3,982,000 after buying an additional 4,500 shares during the period. ING Groep NV boosted its stake in shares of Oneok Partners by 47.8% in the second quarter. ING Groep NV now owns 408,000 shares of the company’s stock worth $16,344,000 after buying an additional 132,000 shares during the period. Mariner Wealth Advisors LLC boosted its stake in shares of Oneok Partners by 12.0% in the first quarter. Mariner Wealth Advisors LLC now owns 37,934 shares of the company’s stock worth $1,191,000 after buying an additional 4,052 shares during the period. Finally, Solaris Asset Management LLC boosted its stake in shares of Oneok Partners by 1,205.0% in the second quarter. Solaris Asset Management LLC now owns 6,525 shares of the company’s stock worth $261,000 after buying an additional 6,025 shares during the period.

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