Energy Limited Partnerships Soar, Pointe Capital Believes Recent MLP Weakness Buying Opportunity
Many names in the energy sector, specifically MLPs, are trading higher in Tuesday's session. The move in the sector may be attributed to positive guidance given Monday morning by ONEOK Partners LP (NYSE: OKS).
Pointe Capital Management sent Benzinga a report, highlighting that "fundamentals remain strong amid a volatile market." The sector as a whole has received a lift, but Pointe still believes "dramatic sell off in MLPs has created an opportunity for long term investors."
RBC Capital Markets cut their price target of ONEOK from $38 to $32, although they concede that guidance was better than expected.
Shares of ONEOK are trading Up 12.18 percent on the day, at $30.54 per share.
Latest Ratings for OKS
|Feb 2017||BMO Capital||Downgrades||Outperform||Market Perform|
|Dec 2016||Goldman Sachs||Upgrades||Sell||Neutral|
|Nov 2016||Stifel Nicolaus||Downgrades||Buy||Hold|
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