TD Cowen Begins Coverage on ONEOK (NYSE:OKE)

Analysts at TD Cowen started coverage on shares of ONEOK (NYSE:OKE - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The firm set a "hold" rating and a $91.00 price target on the utilities provider's stock. TD Cowen's price objective indicates a potential upside of 11.35% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Scotiabank dropped their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 5th. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday. Barclays reduced their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. Stifel Nicolaus dropped their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup reduced their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.14.

ONEOK Stock Performance

Shares of ONEOK stock opened at $81.73 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock's fifty day moving average price is $82.27 and its 200-day moving average price is $91.46. The firm has a market cap of $51.45 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.61 and a beta of 0.93. ONEOK has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same period in the previous year, the company posted $1.09 EPS. On average, equities research analysts expect that ONEOK will post 5.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ONEOK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mindset Wealth Management LLC increased its stake in shares of ONEOK by 0.7% during the fourth quarter. Mindset Wealth Management LLC now owns 16,114 shares of the utilities provider's stock worth $1,618,000 after purchasing an additional 106 shares in the last quarter. Marcum Wealth LLC boosted its holdings in ONEOK by 1.1% in the 1st quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after buying an additional 108 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in ONEOK by 1.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 5,880 shares of the utilities provider's stock worth $590,000 after buying an additional 112 shares in the last quarter. West Paces Advisors Inc. increased its stake in ONEOK by 4.7% during the 4th quarter. West Paces Advisors Inc. now owns 2,527 shares of the utilities provider's stock worth $254,000 after buying an additional 114 shares in the last quarter. Finally, Presima Securities ULC raised its holdings in shares of ONEOK by 1.4% during the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock valued at $940,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

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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