Cypress Capital Group Takes Position in ONEOK Partners, L.P. (OKS)

Cypress Capital Group purchased a new position in ONEOK Partners, L.P. (NYSE:OKS) during the first quarter, Holdings Channel reports. The institutional investor purchased 4,000 shares of the pipeline company’s stock, valued at approximately $216,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley increased its position in ONEOK Partners, L.P. by 41.6% in the first quarter. Morgan Stanley now owns 3,841,281 shares of the pipeline company’s stock valued at $207,390,000 after buying an additional 1,127,915 shares during the period. Energy Income Partners LLC purchased a new position in ONEOK Partners, L.P. during the fourth quarter valued at $146,652,000. JPMorgan Chase & Co. increased its position in ONEOK Partners, L.P. by 32.1% in the first quarter. JPMorgan Chase & Co. now owns 3,280,073 shares of the pipeline company’s stock valued at $177,091,000 after buying an additional 796,289 shares during the period. Bank of America Corp DE increased its position in ONEOK Partners, L.P. by 641.5% in the first quarter. Bank of America Corp DE now owns 2,854,270 shares of the pipeline company’s stock valued at $154,102,000 after buying an additional 2,469,324 shares during the period. Finally, ING Groep NV increased its position in ONEOK Partners, L.P. by 402.4% in the first quarter. ING Groep NV now owns 1,210,900 shares of the pipeline company’s stock valued at $65,376,000 after buying an additional 969,900 shares during the period. Institutional investors and hedge funds own 41.23% of the company’s stock.

Institutional Ownership by Quarter for ONEOK Partners, L.P. (NYSE:OKS)

Shares of ONEOK Partners, L.P. (OKS) traded up 4.14% during midday trading on Friday, hitting $50.08. The stock had a trading volume of 2,668,227 shares. ONEOK Partners, L.P. has a 12-month low of $36.13 and a 12-month high of $57.41. The stock has a market cap of $14.31 billion, a P/E ratio of 21.74 and a beta of 0.71. The stock has a 50-day moving average price of $49.70 and a 200-day moving average price of $49.17.

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Several equities analysts have recently weighed in on OKS shares. Zacks Investment Research downgraded ONEOK Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, March 16th. BMO Capital Markets set a $53.00 target price on ONEOK Partners, L.P. and gave the company a “hold” rating in a research report on Saturday, April 1st. US Capital Advisors downgraded ONEOK Partners, L.P. from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 15th. Guggenheim started coverage on ONEOK Partners, L.P. in a research report on Monday, April 17th. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, Royal Bank of Canada restated a “hold” rating and issued a $57.00 target price on shares of ONEOK Partners, L.P. in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.93.

ONEOK Partners, L.P. Company Profile

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. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.

Want to see what other hedge funds are holding OKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK Partners, L.P. (NYSE:OKS).

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