ONEOK (NYSE:OKE) Price Target Raised to $105.00

Key Points

• Morgan Stanley raised ONEOK’s price target to $105 from $103 while maintaining an “equal weight” rating, implying 8.43% potential upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $91.94.
• ONEOK shares rose 1.6% to $96.84, near their 12-month high of $97.90. The company exceeded quarterly expectations, reporting adjusted earnings of $1.53 per share versus the $1.46 consensus and revenue of $12.05 billion.
• Institutional investors own approximately 69.13% of ONEOK, with several hedge funds and advisers recently increasing their stakes or initiating new positions.

ONEOK (NYSE:OKE - Get Free Report) had its price target raised by investment analysts at Morgan Stanley from $103.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 8.43% from the company's previous close.

Several other equities research analysts have also issued reports on OKE. Truist Financial raised their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Royal Bank Of Canada upped their price target on ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 21st. Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Wells Fargo & Company dropped their target price on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $91.94.

ONEOK Stock Up 1.6%

Shares of OKE stock traded up $1.52 on Tuesday, hitting $96.84. The stock had a trading volume of 710,344 shares, compared to its average volume of 4,371,163. ONEOK has a 12-month low of $64.02 and a 12-month high of $97.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The business has a 50 day moving average of $89.62 and a 200 day moving average of $87.80. The stock has a market cap of $61.05 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter last year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, analysts expect that ONEOK will post 5.87 EPS for the current year.

Hedge Funds Weigh In On ONEOK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT grew its stake in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC purchased a new position in ONEOK in the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC bought a new position in shares of ONEOK during the fourth quarter valued at $29,000. Transamerica Financial Advisors LLC lifted its stake in ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 149 shares during the period. Finally, Portus Wealth Advisors LLC bought a new position in ONEOK during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

About ONEOK

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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