ONEOK (NYSE:OKE) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded ONEOK from “sell” to “hold”, adding to a mixed analyst picture that still leaves the stock at a consensus Hold rating.
• Other recent analyst moves included target price increases from TD Cowen and RBC, while Scotiabank and Wolfe Research were more cautious. Overall, MarketBeat says the consensus price target is $91.88.
• ONEOK shares were down 0.9% to $85.09, after the company recently reported EPS of $1.23 versus expectations of $1.30, even though revenue topped estimates at $9.62 billion.

ONEOK (NYSE:OKE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

A number of other brokerages have also recently commented on OKE. TD Cowen lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company a "hold" rating in a report on Thursday, April 30th. Wolfe Research downgraded shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, February 25th. Raymond James Financial restated an "outperform" rating and issued a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Scotiabank cut shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Royal Bank Of Canada increased their target price on shares of ONEOK from $79.00 to $84.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 19th. 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 a consensus rating of "Hold" and a consensus price target of $91.88.

ONEOK Trading Down 0.9%

NYSE:OKE opened at $85.09 on Friday. The stock's 50 day moving average price is $87.19 and its 200 day moving average price is $78.82. The company has a market capitalization of $53.61 billion, a PE ratio of 15.17, a P/E/G ratio of 6.04 and a beta of 0.78. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK has a 52-week low of $64.02 and a 52-week high of $95.30.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period last year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts anticipate that ONEOK will post 5.9 EPS for the current year.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently bought and sold shares of OKE. Vanguard Group Inc. increased its stake in shares of ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock worth $5,703,845,000 after acquiring an additional 380,744 shares during the period. State Street Corp lifted its position in ONEOK by 1.7% in the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock valued at $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after purchasing an additional 599,248 shares during the period. Geode Capital Management LLC boosted its holdings in ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after purchasing an additional 518,746 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. 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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