ONEOK (OKE) is Downgraded by Jefferies to Hold

ONEOK (OKE) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Jun 8, 2016.

Many Wall Street Analysts have commented on ONEOK. Company shares were Upgraded by Barclays on May 9, 2016 to ” Overweight”, Firm has raised the Price Target to $ 49 from a previous price target of $27 .

On the company’s financial health, ONEOK reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 2117.86.During the same quarter in the previous year, the company posted $0.29 EPS.

ONEOK opened for trading at $45.37 and hit $46.06 on the upside on Tuesday, eventually ending the session at $45.76, with a gain of 1.46% or 0.66 points. The heightened volatility saw the trading volume jump to 20,14,604 shares. Company has a market cap of $9,614 M.

In a different news, on Mar 18, 2016, Brian L Derksen (director) purchased 1,800 shares at $30.33 per share price. According to the SEC, on Mar 8, 2016, Sheppard F Iii Miers (VP & Chief Accounting Officer) sold 3,900 shares at $27.49 per share price. On Dec 28, 2015, Walter S Iii Hulse (EVP STRATEGIC PLNG & CORP DEV) purchased 15,000 shares at $23.90 per share price, according to the Form-4 filing with the securities and exchange commission.

ONEOK Inc. is the sole general partner of ONEOK Partners L.P. (ONEOK Partners) a master limited partnership engaged in the gathering processing storage and transportation of natural gas in the United States. The Company operates through three segments: Natural Gas Gathering and Processing Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers including gathering and processing of natural gas produced from crude oil and natural gas wells. The Natural Gas Liquids segment owns and operates facilities that gather fractionate treat and distribute natural gas liquids (NGLs) and store NGL products primarily in Oklahoma Kansas Texas New Mexico and the Rocky Mountain region. The Natural Gas Pipelines segment owns and operates regulated natural gas transmission pipelines and natural gas storage facilities.


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