ONEOK (NYSE:OKE - Get Free Report) had its price objective cut by stock analysts at Raymond James Financial from $115.00 to $110.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the utilities provider's stock. Raymond James Financial's price target suggests a potential upside of 37.05% from the stock's previous close.
Several other equities research analysts have also weighed in on OKE. Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. 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 on the stock. Barclays decreased their price target on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. lifted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.53.
Check Out Our Latest Report on ONEOK
ONEOK Stock Down 0.1%
NYSE:OKE traded down $0.12 during trading hours on Tuesday, hitting $80.26. The stock had a trading volume of 1,145,559 shares, compared to its average volume of 3,483,824. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. ONEOK has a 1-year low of $75.48 and a 1-year high of $118.07. The business has a 50 day simple moving average of $81.97 and a two-hundred day simple moving average of $90.06. The company has a market cap of $50.53 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.
ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the previous year, the business posted $1.09 earnings per share. Analysts predict that ONEOK will post 5.07 EPS for the current year.
Institutional Investors Weigh In On ONEOK
A number of institutional investors and hedge funds have recently made changes to their positions in OKE. Vanguard Group Inc. increased its stake in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after buying an additional 2,542,449 shares during the period. Geode Capital Management LLC increased its holdings in ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after buying an additional 357,015 shares in the last quarter. Invesco Ltd. grew its stake in ONEOK by 25.1% during the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after acquiring an additional 1,674,706 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after purchasing an additional 1,047,810 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.
About ONEOK
(
Get Free Report)
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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