ONEOK (NYSE:OKE) Now Covered by Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage of ONEOK with a “hold” rating and a $105 price target, implying approximately 9.45% upside from the stock’s current price.
• Analyst sentiment remains cautious: ONEOK has a consensus “Hold” rating from MarketBeat, with an average price target of $96.62.
• ONEOK recently exceeded quarterly earnings expectations, reporting $1.53 in EPS versus the $1.46 consensus estimate and $12.05 billion in revenue.

Analysts at Stifel Nicolaus started coverage on shares of ONEOK (NYSE:OKE - Get Free Report) in a research note issued on Thursday, FinViz reports. The firm set a "hold" rating and a $105.00 price target on the utilities provider's stock. Stifel Nicolaus' target price would indicate a potential upside of 9.45% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. TD Cowen lifted their price objective on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. US Capital Advisors cut shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. lifted their target price on ONEOK from $95.00 to $106.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Finally, Jefferies Financial Group increased their price objective on shares of ONEOK from $95.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of "Hold" and an average target price of $96.62.

ONEOK Stock Down 1.6%

ONEOK stock opened at $95.93 on Thursday. The firm has a 50 day simple moving average of $92.22 and a 200 day simple moving average of $89.34. The firm has a market capitalization of $60.47 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 2.72 and a beta of 0.74. 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 has a 1-year low of $64.02 and a 1-year high of $99.85.

ONEOK (NYSE:OKE - Get Free Report) last announced 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 business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period in the prior year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts predict that ONEOK will post 5.84 earnings per share for the current year.

Hedge Funds Weigh In On ONEOK

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of ONEOK by 6,935.8% in the 2nd quarter. California State Teachers Retirement System now owns 119,843,399 shares of the utilities provider's stock worth $10,419,185,000 after buying an additional 118,140,062 shares during the period. Capital International Investors bought a new position in shares of ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank acquired a new stake in shares of ONEOK in the 4th quarter worth $564,867,000. BlackRock Inc. grew its stake in shares of ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in ONEOK during the 2nd quarter valued at approximately $389,985,000. 69.13% of the stock is currently owned by institutional investors.

About ONEOK

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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