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

Key Points

• Wall Street Zen upgraded ONEOK from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $91.81.
• ONEOK shares were trading down 1.8% at $86.33, below the consensus target but within their $64.02–$96.07 12-month range.
• The company exceeded quarterly expectations, reporting $1.53 in earnings per share versus estimates of $1.46 and revenue of $12.05 billion versus $8.95 billion expected; institutional investors own 69.13% of its stock.

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

Other research analysts have also recently issued research reports about the company. Freedom Capital upgraded ONEOK from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Royal Bank Of Canada boosted their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 21st. Truist Financial upped their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Citigroup lifted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.81.

ONEOK Trading Down 1.8%

Shares of OKE stock opened at $86.33 on Friday. ONEOK has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market capitalization of $54.42 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 4.50 and a beta of 0.73. The firm has a 50 day moving average price of $88.95 and a two-hundred day moving average price of $87.04. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Meridian Wealth Management LLC increased its holdings in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock valued at $574,000 after buying an additional 115 shares during the period. Clearstead Trust LLC lifted its holdings in shares of ONEOK by 4.7% during the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock worth $238,000 after acquiring an additional 117 shares during the period. Hoxton Planning & Management LLC lifted its holdings in shares of ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider's stock worth $395,000 after acquiring an additional 120 shares during the period. Welch Group LLC boosted its position in shares of ONEOK by 0.8% during the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock worth $1,343,000 after acquiring an additional 122 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of ONEOK by 0.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider's stock worth $2,374,000 after acquiring an additional 122 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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