Scotiabank Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE - Get Free Report) had its price target cut by analysts at Scotiabank from $101.00 to $100.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's target price would indicate a potential upside of 14.19% from the company's current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price target for the company. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company reduced their price target on ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.25.

ONEOK Stock Performance

NYSE:OKE traded down $0.30 during trading on Tuesday, reaching $87.58. The company's stock had a trading volume of 942,918 shares, compared to its average volume of 3,176,065. ONEOK has a 12 month low of $75.48 and a 12 month high of $118.07. The firm has a 50 day moving average of $91.81 and a 200-day moving average of $98.99. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market cap of $54.70 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts expect that ONEOK will post 5.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $30,000. Greenline Partners LLC purchased a new position in ONEOK during the fourth quarter worth about $32,000. First Pacific Financial purchased a new stake in ONEOK in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the 4th quarter worth about $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $39,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.