Saratoga Research & Investment Management purchased a new position in shares of Oneok Partners LP (NYSE:OKS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,350 shares of the company’s stock, valued at approximately $214,000.
Several other hedge funds have also modified their holdings of OKS. WealthTrust Axiom LLC purchased a new position in shares of Oneok Partners during the second quarter valued at $216,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Oneok Partners by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,412 shares of the company’s stock valued at $217,000 after buying an additional 30 shares during the period. National Planning Corp purchased a new position in shares of Oneok Partners during the first quarter valued at $220,000. Prospera Financial Services Inc purchased a new position in shares of Oneok Partners during the second quarter valued at $247,000. Finally, Solaris Asset Management LLC raised its position 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 valued at $261,000 after buying an additional 6,025 shares during the period.
Oneok Partners LP (NYSE:OKS) traded up 0.12% on Monday, hitting $41.43. The stock had a trading volume of 356,742 shares. Oneok Partners LP has a 52-week low of $21.86 and a 52-week high of $42.34. The company’s 50 day moving average price is $39.03 and its 200 day moving average price is $38.23. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 35.23 and a beta of 0.39.
Oneok Partners (NYSE:OKS) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.54 by $0.14. During the same period in the prior year, the company earned $0.44 EPS. Analysts expect that Oneok Partners LP will post $2.26 EPS for the current year.
OKS has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Oneok Partners from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $34.00 to $40.00 in a report on Monday, September 5th. Simmons reaffirmed an “overweight” rating and issued a $45.00 price target (up from $42.00) on shares of Oneok Partners in a report on Saturday, June 25th. Robert W. Baird raised Oneok Partners from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $24.00 to $45.00 in a report on Friday, August 12th. 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. Finally, Piper Jaffray Cos. lowered Oneok Partners from an “overweight” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.18.
In other news, insider John William Gibson bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was bought at an average price of $38.09 per share, with a total value of $190,450.00. Following the acquisition, the insider now owns 105,000 shares of the company’s stock, valued at approximately $3,999,450. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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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