ONEOK (NYSE:OKE) Coverage Initiated by Analysts at The Goldman Sachs Group

Key Points

• ONEOK's stock has a "neutral" rating reiterated by Goldman Sachs, with a target price of $75.00, indicating potential upside of 2.73% from its current price.
• JPMorgan has upgraded its rating from "neutral" to "overweight" and raised its target price from $94.00 to $97.00, while Mizuho has set a $82.00 target price with a "neutral" rating.
• ONEOK reported quarterly earnings of $1.34 per share, slightly above the consensus estimate, with revenue of $8.21 billion surpassing expectations and a net margin of 11.06%.

Equities researchers at The Goldman Sachs Group began coverage on shares of ONEOK (NYSE:OKE - Get Free Report) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a "neutral" rating and a $75.00 price target on the utilities provider's stock. The Goldman Sachs Group's price objective indicates a potential upside of 3.68% from the stock's previous close.

OKE has been the subject of several other research reports. Barclays set a $83.00 target price on ONEOK in a research report on Thursday, August 14th. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada decreased their price objective on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research report on Friday, August 1st. Finally, TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.00.

ONEOK Trading Down 1.0%

Shares of OKE stock traded down $0.76 during mid-day trading on Tuesday, hitting $72.34. The company's stock had a trading volume of 350,345 shares, compared to its average volume of 3,878,771. ONEOK has a 52 week low of $70.63 and a 52 week high of $118.07. The company has a market cap of $45.56 billion, a PE ratio of 14.09, a P/E/G ratio of 1.81 and a beta of 1.04. The company's fifty day simple moving average is $75.38 and its 200-day simple moving average is $81.57. 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 (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping 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 company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities research analysts expect that ONEOK will post 5.07 earnings per share for the current fiscal year.

Institutional Trading of ONEOK

Hedge funds have recently made changes to their positions in the business. First Pacific Financial bought a new position in shares of ONEOK in the 1st quarter valued at $34,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ONEOK by 2,466.7% during 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 period. MorganRosel Wealth Management LLC purchased a new position in shares of ONEOK during the first quarter valued at about $39,000. Financial Gravity Asset Management Inc. purchased a new position in ONEOK in the 1st quarter worth approximately $40,000. Finally, Access Investment Management LLC bought a new stake in ONEOK during the second quarter valued at approximately $33,000. 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.