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Downgrade Alert for ONEOK Partners (OKS)

By David Diaz

ONEOK Partners (NYSE:OKS) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $38.84 on volume of 1.0 million shares, above average daily volume of 867,000.

Over the past year, ONEOK Partners has traded in a range of $21.86 to $42.50 and closed yesterday at $38.84, 78% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 2.6%.

ONEOK Partners, L.P., through a subsidiary limited partnership, owns a general partner interest in a master limited partnership. The partnership owns an interstate pipeline system that transports natural gas primarily in the upper Midwest and Mid Continent regions of the United States.

ONEOK Partners (NYSE:OKS) is currently priced 5.8% above its average consensus analyst price target of $36.57. The stock should discover initial support at its 50-day moving average (MA) of $32.22 and subsequent support at its 200-day MA of $30.50.

SmarTrend recommended that subscribers consider buying shares of ONEOK Partners on April 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.15. Since that recommendation, shares of ONEOK Partners have risen 23.6%. We continue to monitor OKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades ONEOK Partners

Ticker(s): OKS