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

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

Other analysts also recently issued reports about the company. Barclays reduced their price objective on ONEOK from $83.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 9th. TD Cowen started coverage on ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 target price for the company. Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. The Goldman Sachs Group started coverage on ONEOK in a research note on Tuesday, September 30th. They issued a "neutral" rating and a $75.00 target price for the company. Finally, Royal Bank Of Canada dropped their target price on 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 analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.40.

ONEOK Stock Down 1.7%

OKE opened at $68.60 on Friday. The business's fifty day moving average is $72.40 and its two-hundred day moving average is $78.42. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The company has a market cap of $43.20 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.68 and a beta of 1.01. ONEOK has a one year low of $66.56 and a one year high of $118.07.

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 (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same period in the prior year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

Institutional Investors Weigh In On ONEOK

Large investors have recently modified their holdings of the stock. City Holding Co. acquired a new stake in shares of ONEOK in the third quarter valued at about $28,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in ONEOK in the third quarter valued at about $29,000. MorganRosel Wealth Management LLC purchased a new position in ONEOK in the first quarter valued at about $39,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in ONEOK in the first quarter valued at about $40,000. Institutional investors and hedge funds own 69.13% of the company's stock.

About ONEOK

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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