ONEOK (NYSE:OKE) Upgraded at The Goldman Sachs Group

Key Points

• ONEOK (NYSE:OKE) has been upgraded to a "hold" rating by analysts at The Goldman Sachs Group, indicating a shift in investor sentiment.
• In the latest quarter, ONEOK reported earnings per share of $1.34, surpassing analysts' expectations, and recorded revenues of $8.21 billion.
• The stock has a current market capitalization of approximately $45.97 billion, with an average price target of $99.00 across equity research analysts.

ONEOK (NYSE:OKE - Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on OKE. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Mizuho lowered their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. TD Cowen began coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, Royal Bank Of Canada lowered their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average target price of $99.00.

ONEOK Price Performance

OKE opened at $72.99 on Monday. ONEOK has a 12-month low of $70.63 and a 12-month high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The business's fifty day simple moving average is $75.23 and its 200-day simple moving average is $81.51. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.79 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the prior year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts anticipate that ONEOK will post 5.07 earnings per share for the current fiscal year.

Institutional Trading of ONEOK

Several hedge funds and other institutional investors have recently bought and sold shares of OKE. Brighton Jones LLC grew its holdings in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after acquiring an additional 8,834 shares during the period. NBC Securities Inc. grew its holdings in ONEOK by 114,650.0% during the first quarter. NBC Securities Inc. now owns 2,295 shares of the utilities provider's stock worth $227,000 after acquiring an additional 2,293 shares during the period. Harbor Investment Advisory LLC grew its holdings in ONEOK by 154.5% during the first quarter. Harbor Investment Advisory LLC now owns 1,069 shares of the utilities provider's stock worth $106,000 after acquiring an additional 649 shares during the period. Merit Financial Group LLC grew its holdings in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after acquiring an additional 1,180 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in ONEOK during the first quarter worth about $316,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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