ONEOK (NYSE:OKE) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, January 17th, MarketBeat.com reports. The firm currently has a $67.00 price target on the utilities provider’s stock, up from their previous price target of $58.00. Barclays’ price target would suggest a potential upside of 18.48% from the company’s previous close.
Several other brokerages have also recently weighed in on OKE. Royal Bank of Canada raised ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 price target on shares of ONEOK in a research note on Tuesday, January 16th. Wells Fargo & Co raised ONEOK from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 11th. Bank of America began coverage on ONEOK in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price on shares of ONEOK in a research note on Thursday, October 12th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ONEOK presently has an average rating of “Buy” and a consensus price target of $60.15.
Shares of ONEOK (NYSE:OKE) traded up $2.22 during mid-day trading on Wednesday, hitting $56.55. The company had a trading volume of 2,582,646 shares, compared to its average volume of 3,390,000. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. ONEOK has a twelve month low of $47.14 and a twelve month high of $61.36. The company has a market cap of $23,050.00, a P/E ratio of 35.34, a P/E/G ratio of 1.72 and a beta of 1.26.
In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Carnegie Capital Asset Management LLC increased its position in ONEOK by 149.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 11,057 shares of the utilities provider’s stock worth $626,000 after buying an additional 6,625 shares during the last quarter. Commerce Bank increased its position in ONEOK by 3.4% in the fourth quarter. Commerce Bank now owns 294,980 shares of the utilities provider’s stock worth $15,767,000 after buying an additional 9,649 shares during the last quarter. Sasco Capital Inc. CT increased its position in ONEOK by 1.2% in the fourth quarter. Sasco Capital Inc. CT now owns 2,248,992 shares of the utilities provider’s stock worth $120,209,000 after buying an additional 27,605 shares during the last quarter. Stockman Wealth Management Inc. grew its position in shares of ONEOK by 7.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 14,400 shares of the utilities provider’s stock valued at $770,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Capital Analysts LLC grew its position in shares of ONEOK by 218.5% in the fourth quarter. Capital Analysts LLC now owns 151,149 shares of the utilities provider’s stock valued at $17,243,000 after purchasing an additional 103,689 shares in the last quarter. Institutional investors and hedge funds own 66.59% of the company’s stock.
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ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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