Skip to main content

Market Overview

UPDATE: Oppenheimer Initiates Coverage on ONEOK Partners LP on Fair Valuation

Share:

In a report published Wednesday, Oppenheimer analyst Bernard Colson initiated coverage on ONEOK Partners LP (NYSE: OKS) with a Perform rating.

In the report, Oppenheimer noted, “We initiate coverage of ONEOK Partners (OKS) with a Perform rating and do not assign a price target. We believe OKS has the most exposure to the Bakken NGL infrastructure buildout, and its assets are critical to the growing petrochemical industry. Fundamentals of OKS's key NGL businesses are mixed, with depressed NGL prices being offset by fee-based volume growth. Distribution growth is expected to continue at an attractive rate, driven by the start-up of new fee-based projects. While the recent equity issuance reduced leverage and satisfied 2013 equity needs, we believe OKS units are fairly valued at current levels.”

ONEOK Partners LP closed on Tuesday at $50.09.

Latest Ratings for OKS

DateFirmActionFromTo
Apr 2017GuggenheimInitiates Coverage OnNeutral
Feb 2017BMO CapitalDowngradesOutperformMarket Perform
Dec 2016Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for OKS

View the Latest Analyst Ratings

 

Related Articles (OKS)

View Comments and Join the Discussion!

Posted-In: Bernard Colson OppenheimerAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com