The stock of Oneok Partners LP (NYSE:OKS) hit a new 52-week high and has $67.38 target or 61.00% above today’s $41.85 share price. The 5 months bullish chart indicates low risk for the $12.09B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $67.38 price target is reached, the company will be worth $7.37 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 284,125 shares traded hands. Oneok Partners LP (NYSE:OKS) has risen 27.26% since March 16, 2016 and is uptrending. It has outperformed by 21.72% the S&P500.
Analysts await Oneok Partners LP (NYSE:OKS) to report earnings on November, 1. They expect $0.60 earnings per share, up 33.33% or $0.15 from last year’s $0.45 per share. OKS’s profit will be $173.33M for 17.44 P/E if the $0.60 EPS becomes a reality. After $0.54 actual earnings per share reported by Oneok Partners LP for the previous quarter, Wall Street now forecasts 11.11% EPS growth.
Oneok Partners LP (NYSE:OKS) Ratings Coverage
Out of 13 analysts covering Oneok Partners (NYSE:OKS), 2 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 15% are positive. Oneok Partners has been the topic of 30 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Jefferies on Wednesday, June 8. RBC Capital Markets maintained it with “Sector Perform” rating and $32 target price in Tuesday, December 22 report. Credit Suisse downgraded the stock to “Neutral” rating in Tuesday, October 13 report. As per Wednesday, December 16, the company rating was maintained by Barclays Capital. As per Wednesday, May 18, the company rating was downgraded by US Capital Advisors. Credit Suisse downgraded Oneok Partners LP (NYSE:OKS) on Thursday, March 17 to “Underperform” rating. Credit Suisse maintained it with “Neutral” rating and $32 target price in Thursday, February 25 report. Stifel Nicolaus upgraded it to “Buy” rating and $40 target price in Wednesday, September 14 report. Citigroup maintained Oneok Partners LP (NYSE:OKS) rating on Friday, June 17. Citigroup has “Buy” rating and $45 price target. As per Tuesday, September 15, the company rating was upgraded by Citigroup.
According to Zacks Investment Research, “Northern Border Pipeline is a general partnership that owns an interstate pipeline system that transports natural gas from the Montana-Saskatchewan border to natural gas markets in the midwestern United States. This pipeline system connects with multiple pipelines that provide shippers with access to the various natural gas markets served by those pipelines.”
More news for Oneok Partners LP (NYSE:OKS) were recently published by: Fool.com, which released: “Here’s Why ONEOK, Inc. and ONEOK Partners LP Shares Are Down Big Today” on February 09, 2016. Forbes.com‘s article titled: “ONEOK Partners Named Top Dividend Stock With Insider Buying and 7.57% Yield (OKS)” and published on July 22, 2016 is yet another important article.
OKS Company Profile
ONEOK Partners, L.P., incorporated on July 13, 1993, 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 divisions are Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.
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