JPMorgan Chase & Co. Has Lowered Expectations for ONEOK (NYSE:OKE) Stock Price

Key Points

• JPMorgan cut ONEOK’s price target from $106 to $100 while maintaining a neutral rating, implying approximately 11.55% upside from the stock’s reported price of $89.64.
• Analyst sentiment remains broadly cautious: MarketBeat reports an average rating of “Hold” and an average price target of $96.53, based on one Strong Buy, seven Buy, and twelve Hold ratings.
• ONEOK reported quarterly EPS of $1.53, exceeding the $1.46 consensus estimate, while institutional investors own 69.13% of the company’s shares.

ONEOK (NYSE:OKE - Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $106.00 to $100.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 11.55% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Capital One Financial started coverage on ONEOK in a report on Tuesday, September 22nd. They issued an "overweight" rating and a $110.00 price target for the company. Barclays lowered their target price on ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. US Capital Advisors downgraded shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Finally, Scotiabank boosted their price objective on ONEOK from $89.00 to $95.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $96.53.

ONEOK Stock Performance

Shares of OKE stock traded up $1.06 during trading on Tuesday, hitting $89.64. The company's stock had a trading volume of 479,575 shares, compared to its average volume of 4,240,949. ONEOK has a 52 week low of $64.02 and a 52 week high of $99.85. The business has a fifty day moving average of $92.25 and a 200-day moving average of $90.09. The company has a market cap of $56.51 billion, a PE ratio of 15.43, a P/E/G ratio of 2.50 and a beta of 0.82. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts anticipate that ONEOK will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On ONEOK

Several hedge funds have recently modified their holdings of the stock. Saudi Central Bank grew its position in ONEOK by 89.9% in the second quarter. Saudi Central Bank now owns 44,102 shares of the utilities provider's stock worth $3,834,000 after buying an additional 20,876 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of ONEOK by 21.8% in the 2nd quarter. Empowered Funds LLC now owns 73,242 shares of the utilities provider's stock worth $6,368,000 after acquiring an additional 13,103 shares during the last quarter. Matrix Trust Co acquired a new stake in shares of ONEOK during the second quarter worth $1,245,000. The Manufacturers Life Insurance Company lifted its holdings in shares of ONEOK by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 798,176 shares of the utilities provider's stock valued at $69,393,000 after purchasing an additional 15,796 shares during the last quarter. Finally, State Street Corp boosted its position in shares of ONEOK by 5.0% in the 2nd quarter. State Street Corp now owns 43,633,749 shares of the utilities provider's stock valued at $3,793,518,000 after purchasing an additional 2,059,368 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

About ONEOK

ONEOK, Inc NYSE: OKE is a diversified energy infrastructure company that owns and operates midstream assets in the United States. Its operations connect producers, processors, storage facilities and end-use markets across major energy-producing and consuming regions.

The company's businesses include natural gas gathering, processing, transportation and storage, as well as natural gas liquids (NGL) gathering, fractionation, storage and transportation. ONEOK also operates infrastructure serving refined products and crude oil markets, including pipelines and terminals.

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