Barclays Lowers ONEOK (NYSE:OKE) Price Target to $91.00

ONEOK (NYSE:OKE - Get Free Report) had its price objective decreased by investment analysts at Barclays from $101.00 to $91.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target would indicate a potential upside of 12.89% from the company's current price.

Other research analysts have also issued reports about the company. Morgan Stanley lifted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Monday, February 10th. Finally, Scotiabank reduced their price objective on ONEOK from $100.00 to $96.00 and set a "sector outperform" rating for the company in a research note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

ONEOK Price Performance

OKE traded down $2.63 on Tuesday, reaching $80.61. The company had a trading volume of 6,153,084 shares, compared to its average volume of 3,323,684. ONEOK has a one year low of $75.48 and a one year high of $118.07. The company has a market capitalization of $50.35 billion, a P/E ratio of 16.86, a PEG ratio of 3.77 and a beta of 0.94. The company has a fifty day moving average of $84.57 and a 200-day moving average of $95.91. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities research analysts anticipate that ONEOK will post 5.07 earnings per share for the current year.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently modified their holdings of the stock. McAdam LLC grew its stake in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after purchasing an additional 96 shares in the last quarter. Alliance Wealth Advisors LLC grew its stake in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock valued at $1,262,000 after buying an additional 100 shares in the last quarter. L.M. Kohn & Company increased its holdings in ONEOK by 4.5% in the fourth quarter. L.M. Kohn & Company now owns 2,460 shares of the utilities provider's stock worth $247,000 after buying an additional 105 shares during the last quarter. Mindset Wealth Management LLC raised its position in ONEOK by 0.7% during the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock valued at $1,618,000 after acquiring an additional 106 shares in the last quarter. Finally, Marcum Wealth LLC lifted its stake in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock valued at $1,017,000 after acquiring an additional 108 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.