We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ONEOK Partners (OKS) at 52-Week High on Growth Initiatives
Read MoreHide Full Article
ONEOK Partners, L.P. scaled a new 52-week high of $40.60 in yesterday???s trading session before closing slightly lower at $39.96. The master limited partnership is engaged in the business of gathering, processing, storage and transportation of natural gas in the U.S. The stock has delivered a one-year return of about 26.7%.
Over the past 52 weeks, ONEOK Partner???s units have ranged from a low of $21.86 on Dec 17, 2015 to a high of $40.60 on Jun 29, 2016. The average volume of units traded over the last three months is approximately 0.8 million.
What???s Driving the Stock?
ONEOK Partners??? is benefiting from its fee-based earnings. ONEOK Partners has beaten estimates in three out of the last four quarters, averaging a positive surprise of 9.30%.
ONEOK Partners continues to expand its operations through strategic investments and conversion to fee-based contracts to counter the ongoing softness in commodity prices. A plethora of projects, primarily in the mineral-rich areas of Williston Basin and Permian Basin among others, will continue to support its performance.
The partnership projects capital expenditure of $600 million for 2016. Continued investment in growth projects will allow it to serve more upstream players, thereby ensuring higher distribution for ONEOK Inc. (OKE - Free Report) .
In addition to organic growth projects, ONEOK Partners expects to benefit from continued volume growth, which will increase its distributable cash flow and boost unitholder value.
The first phase of the Roadrunner Gas Transmission, along with a compressor station expansion project on the Midwestern Gas Transmission pipeline, was completed in March. These projects have increased the pipeline???s capacity by 170 million cubic feet per day.
Zacks Rank & Key Picks
ONEOK Partners currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the same space are Boardwalk Pipeline Partners, LP and Rose Rock Midstream, L.P. , both sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ONEOK Partners (OKS) at 52-Week High on Growth Initiatives
ONEOK Partners, L.P. scaled a new 52-week high of $40.60 in yesterday???s trading session before closing slightly lower at $39.96. The master limited partnership is engaged in the business of gathering, processing, storage and transportation of natural gas in the U.S. The stock has delivered a one-year return of about 26.7%.
Over the past 52 weeks, ONEOK Partner???s units have ranged from a low of $21.86 on Dec 17, 2015 to a high of $40.60 on Jun 29, 2016. The average volume of units traded over the last three months is approximately 0.8 million.
What???s Driving the Stock?
ONEOK Partners??? is benefiting from its fee-based earnings. ONEOK Partners has beaten estimates in three out of the last four quarters, averaging a positive surprise of 9.30%.
ONEOK PARTNERS Price
ONEOK PARTNERS Price | ONEOK PARTNERS Quote
ONEOK Partners continues to expand its operations through strategic investments and conversion to fee-based contracts to counter the ongoing softness in commodity prices. A plethora of projects, primarily in the mineral-rich areas of Williston Basin and Permian Basin among others, will continue to support its performance.
The partnership projects capital expenditure of $600 million for 2016. Continued investment in growth projects will allow it to serve more upstream players, thereby ensuring higher distribution for ONEOK Inc. (OKE - Free Report) .
In addition to organic growth projects, ONEOK Partners expects to benefit from continued volume growth, which will increase its distributable cash flow and boost unitholder value.
The first phase of the Roadrunner Gas Transmission, along with a compressor station expansion project on the Midwestern Gas Transmission pipeline, was completed in March. These projects have increased the pipeline???s capacity by 170 million cubic feet per day.
Zacks Rank & Key Picks
ONEOK Partners currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the same space are Boardwalk Pipeline Partners, LP and Rose Rock Midstream, L.P. , both sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>