Is Oneok Partners LP (OKS) A Good Stock To Buy?

As aggregate interest increased, specific money managers have been driving this bullishness. BP Capital, led by T Boone Pickens, initiated the most outsized position in Oneok Partners LP (NYSE:OKS). BP Capital had $5.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.3 million position during the quarter. The following funds were also among the new OKS investors: Stuart J. Zimmer’s Zimmer Partners and Jeff Lignelli’s Incline Global Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Oneok Partners LP (NYSE:OKS) but similarly valued. These stocks are Harris Corporation (NYSE:HRS), International Flavors & Fragrances Inc (NYSE:IFF), Martin Marietta Materials, Inc. (NYSE:MLM), and Masco Corporation (NYSE:MAS). All of these stocks’ market caps resemble OKS’s market cap.

As you can see these stocks had an average of 27.75 hedge funds with bullish positions and the average amount invested in these stocks was $795 million. That figure was $34 million in OKS’s case. Masco Corporation (NYSE:MAS) is the most popular stock in this table. On the other hand International Flavors & Fragrances Inc (NYSE:IFF) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Oneok Partners LP (NYSE:OKS) is even less popular than IFF. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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