Skip to main content

Wells Fargo & Company Boosts ONEOK (NYSE:OKE) Price Target to $51.00

Tuesday, May 4, 2021 | MarketBeat

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.

Further Reading: How to track put option volume

Analyst Recommendations for ONEOK (NYSE:OKE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is Depreciation?


7 Forever Stocks That Are Never Bad to Buy

Investors thought 2021 would be a less volatile year. That narrative has run into some problems. Sure, all the major indexes are up for the year. And that’s despite the NASDAQ’s gut-wrenching 10% drop in March.

But many investors don’t feel much like celebrating. In fact, many are concerned about the liquidity that continues to be pumped into the stock market. In 2020, the pandemic flooded the economy with $6 trillion dollars of stimulus.

However, in the last few months, the Federal Reserve has introduced another $6 trillion into the economy. We would have stopped counting, but the math is pretty easy. It’s $12.3 trillion that has flooded into the economy.

Eventually, this is going to end badly. But timing the market is an imperfect science particularly when many investors are enjoying the game.

Fortunately, there’s a way to safeguard your portfolio without abandoning equities. That has to do with investing in forever stocks. Forever stocks aren’t magic beans. They don’t go up forever. But they are stocks that have stood the test of time. And investing in these stocks will keep your portfolio heading in the right direction.

With that in mind, we’ve put together this special presentation that showcases seven of these forever stocks. These are all stocks that are household names, but that’s kind of the point. You don’t need special knowledge. You just have to recognize that these are companies that consistently do right by their shareholders.

View the "7 Forever Stocks That Are Never Bad to Buy".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.