Citigroup Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

Key Points

• Citigroup has lowered its target price for ONEOK's stock from $102 to $95, maintaining a "buy" rating, indicating a potential upside of 41.60% from the current price.
• Various analysts have made recent adjustments to their price targets for ONEOK, with JPMorgan raising their target from $94 to $97, while Wells Fargo decreased theirs from $90 to $82.
• ONEOK reported better-than-expected quarterly earnings of $1.49 per share on revenues of $9.17 billion, surpassing analysts' projections for both metrics.

ONEOK (NYSE:OKE - Get Free Report) had its target price cut by stock analysts at Citigroup from $102.00 to $95.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. Citigroup's target price points to a potential upside of 41.60% from the stock's current price.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Wells Fargo & Company lowered their price target on shares of ONEOK from $90.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday. Weiss Ratings reiterated a "hold (c+)" rating on shares of ONEOK in a report on Wednesday, October 8th. Raymond James Financial reiterated an "outperform" rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Royal Bank Of Canada dropped their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.33.

ONEOK Trading Up 0.6%

OKE stock traded up $0.37 during midday trading on Friday, hitting $67.09. 3,431,891 shares of the company's stock were exchanged, compared to its average volume of 3,888,991. The stock's fifty day moving average price is $71.96 and its 200-day moving average price is $78.00. ONEOK has a one year low of $65.89 and a one year high of $118.07. The company has a market cap of $42.25 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. The company had revenue of $9.17 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.During the same quarter in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts predict that ONEOK will post 5.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKE. Bogart Wealth LLC boosted its holdings in ONEOK by 3.1% in the 2nd quarter. Bogart Wealth LLC now owns 4,031 shares of the utilities provider's stock worth $329,000 after acquiring an additional 122 shares during the period. Presima Securities ULC increased its position in ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock worth $940,000 after buying an additional 127 shares during the period. Clearstead Trust LLC increased its holdings in shares of ONEOK by 5.0% during the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock valued at $277,000 after purchasing an additional 133 shares during the period. Capital Investment Advisory Services LLC grew its holdings in ONEOK by 4.5% during the first quarter. Capital Investment Advisory Services LLC now owns 3,132 shares of the utilities provider's stock worth $311,000 after acquiring an additional 134 shares during the period. Finally, Empowered Funds LLC grew its holdings in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock worth $1,782,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

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.

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