ONEOK (NYSE:OKE) Price Target Raised to $92.00

Key Points

• JPMorgan Chase & Co. raised ONEOK’s price target from $91 to $92 and kept a neutral rating, implying about 7.68% upside from the prior close.
• Other analysts were mixed: Morgan Stanley and Citi raised targets, while Scotiabank cut its rating to sector perform. Overall, ONEOK has a Hold consensus with an average price target of $91.88.
• ONEOK shares fell 0.5% to $85.44 on Friday after reporting quarterly earnings of $1.23 per share, which missed estimates, even though revenue came in above expectations at $9.62 billion.

ONEOK (NYSE:OKE - Get Free Report) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $91.00 to $92.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 7.68% from the stock's previous close.

A number of other equities research analysts have also issued reports on OKE. Morgan Stanley raised their price target on shares of ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, April 7th. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays boosted their price target on ONEOK from $82.00 to $90.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Royal Bank Of Canada upped their price target on ONEOK from $79.00 to $84.00 and gave the company a "sector perform" rating in a research report on Thursday, March 19th. Finally, Citigroup lifted their price objective on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of "Hold" and a consensus price target of $91.88.

ONEOK Trading Down 0.5%

OKE stock traded down $0.43 during trading on Friday, hitting $85.44. 1,814,623 shares of the company traded hands, compared to its average volume of 4,853,976. The company has a 50-day moving average of $87.19 and a 200-day moving average of $78.82. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK has a 1 year low of $64.02 and a 1 year high of $95.30. The firm has a market capitalization of $53.83 billion, a PE ratio of 15.24, a P/E/G ratio of 6.07 and a beta of 0.78.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts predict that ONEOK will post 5.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT lifted its position in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 143 shares during the period. Winnow Wealth LLC bought a new stake in ONEOK during the third quarter worth about $28,000. Elyxium Wealth LLC purchased a new stake in ONEOK in the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new stake in ONEOK in the fourth quarter worth about $29,000. Finally, SRH Advisors LLC increased its stake in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 241 shares in the last quarter. 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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