ONEOK (NYSE:OKE) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Tuesday.
A number of other equities analysts have also recently commented on OKE. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Credit Suisse Group initiated coverage on shares of ONEOK in a research note on Monday, January 8th. They issued an “outperform” rating and a $62.00 price target for the company. Bank of America initiated coverage on shares of ONEOK in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Wells Fargo raised shares of ONEOK from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $61.29.
OKE stock opened at $58.62 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.66 and a quick ratio of 0.50. ONEOK has a one year low of $47.14 and a one year high of $61.36. The company has a market capitalization of $23,944.08, a price-to-earnings ratio of 33.31, a P/E/G ratio of 2.39 and a beta of 1.22.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. ONEOK had a net margin of 3.19% and a return on equity of 10.46%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the company earned $0.43 EPS. equities research analysts forecast that ONEOK will post 2.57 earnings per share for the current fiscal year.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,100 shares of the stock in a transaction on Monday, March 26th. The shares were sold at an average price of $56.94, for a total transaction of $119,574.00. Following the completion of the sale, the director now owns 16,025 shares of the company’s stock, valued at approximately $912,463.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sheppard F. Miers III sold 2,200 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total transaction of $124,740.00. Following the sale, the vice president now directly owns 31,244 shares of the company’s stock, valued at approximately $1,771,534.80. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Koch Industries Inc. purchased a new stake in ONEOK during the 4th quarter valued at $1,089,000. Candriam Luxembourg S.C.A. boosted its position in ONEOK by 32.9% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 59,710 shares of the utilities provider’s stock valued at $3,191,000 after buying an additional 14,777 shares during the period. Hartree Partners LP purchased a new stake in ONEOK during the 4th quarter valued at $962,000. Raymond James & Associates boosted its position in ONEOK by 6.8% during the 4th quarter. Raymond James & Associates now owns 326,997 shares of the utilities provider’s stock valued at $17,478,000 after buying an additional 20,679 shares during the period. Finally, Atlantic Trust LLC boosted its position in ONEOK by 12.4% during the 3rd quarter. Atlantic Trust LLC now owns 21,197 shares of the utilities provider’s stock valued at $1,175,000 after buying an additional 2,341 shares during the period. 68.50% of the stock is owned by institutional investors and hedge funds.
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ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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