ONEOK (NYSE:OKE) had its price target lifted by equities researchers at Wells Fargo & Company from $50.00 to $51.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price points to a potential downside of 3.26% from the company's current price.
Other analysts have also issued research reports about the stock. Seaport Global Securities lowered shares of ONEOK from a "buy" rating to a "neutral" rating in a research note on Monday, February 8th. Credit Suisse Group lifted their price objective on shares of ONEOK from $44.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, March 9th. Morgan Stanley lifted their price objective on shares of ONEOK from $40.00 to $47.00 and gave the company an "underweight" rating in a research note on Monday, March 29th. Citigroup lifted their price objective on shares of ONEOK from $32.00 to $41.00 in a research note on Tuesday, January 26th. Finally, Raymond James lifted their price objective on shares of ONEOK from $47.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, April 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of "Hold" and a consensus price target of $41.33.
NYSE OKE opened at $52.72 on Tuesday. ONEOK has a one year low of $23.28 and a one year high of $53.67. The company's 50 day moving average price is $50.78 and its 200 day moving average price is $42.13. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.57. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 3.29 and a beta of 1.99.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $0.86 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.77 by $0.09. ONEOK had a net margin of 7.24% and a return on equity of 18.38%. During the same period last year, the business earned $0.83 EPS. Sell-side analysts forecast that ONEOK will post 2.56 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. boosted its holdings in shares of ONEOK by 0.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 439,735 shares of the utilities provider's stock valued at $16,877,000 after acquiring an additional 2,500 shares during the period. Capital Management Corp VA boosted its holdings in shares of ONEOK by 2.0% during the first quarter. Capital Management Corp VA now owns 418,005 shares of the utilities provider's stock valued at $21,176,000 after acquiring an additional 8,125 shares during the period. Accel Wealth Management acquired a new position in shares of ONEOK during the fourth quarter valued at $172,000. Cambridge Financial Group Inc. boosted its holdings in shares of ONEOK by 7.0% during the fourth quarter. Cambridge Financial Group Inc. now owns 202,262 shares of the utilities provider's stock valued at $7,763,000 after acquiring an additional 13,288 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of ONEOK by 43.6% during the fourth quarter. Moors & Cabot Inc. now owns 61,918 shares of the utilities provider's stock valued at $2,375,000 after acquiring an additional 18,786 shares during the period. 64.03% of the stock is owned by hedge funds and other institutional investors.
About ONEOK
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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