ONEOK's (OKE) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• ONEOK's stock received a "hold (C+)" rating from Weiss Ratings, reaffirming its position amidst varying analyst perspectives.
• Recent analyst evaluations include target prices ranging from $75.00 to $92.00, with an average consensus target price of $98.69.
• Institutional investors have been active, with significant purchases made by Norges Bank and Vanguard Group Inc., indicating strong institutional interest in ONEOK shares.

ONEOK (NYSE:OKE - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of ONEOK in a report on Tuesday, September 30th. They issued a "neutral" rating and a $75.00 target price on the stock. Barclays set a $83.00 target price on shares of ONEOK in a report on Thursday, August 14th. Scotiabank set a $92.00 target price on shares of ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Finally, Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $98.69.

ONEOK Stock Up 0.1%

OKE stock traded up $0.06 during midday trading on Wednesday, reaching $72.44. 182,357 shares of the company were exchanged, compared to its average volume of 3,884,570. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. ONEOK has a 1-year low of $70.63 and a 1-year high of $118.07. The stock's 50-day simple moving average is $74.09 and its 200 day simple moving average is $80.53. The company has a market cap of $45.62 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01.

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

Institutional Investors Weigh In On ONEOK

Several institutional investors and hedge funds have recently made changes to their positions in OKE. Norges Bank purchased a new stake in shares of ONEOK in the 2nd quarter worth about $562,832,000. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after acquiring an additional 5,076,705 shares during the period. Nuveen LLC purchased a new position in shares of ONEOK during the 1st quarter worth about $440,535,000. Boston Partners purchased a new position in shares of ONEOK during the 1st quarter worth about $353,596,000. Finally, First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 130.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider's stock worth $510,691,000 after acquiring an additional 3,545,256 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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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