ONEOK (NYSE:OKE) had its target price lowered by analysts at Barclays from $67.00 to $66.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays’ target price indicates a potential upside of 10.61% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a report on Tuesday, April 10th. BMO Capital Markets set a $68.00 price target on shares of ONEOK and gave the company a “buy” rating in a report on Thursday, March 8th. UBS reiterated a “buy” rating and issued a $72.00 price target (up previously from $70.00) on shares of ONEOK in a report on Friday, March 2nd. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Wednesday, March 14th. Finally, Jefferies Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ONEOK currently has a consensus rating of “Hold” and an average price target of $61.07.
Shares of ONEOK stock opened at $59.67 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 1.42. ONEOK has a 52-week low of $47.14 and a 52-week high of $61.36. The company has a market capitalization of $24,535.39, a PE ratio of 33.90, a PEG ratio of 2.46 and a beta of 1.22.
ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business earned $0.43 earnings per share. analysts predict that ONEOK will post 2.55 EPS for the current year.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following the completion of the transaction, the vice president now owns 31,244 shares of the company’s stock, valued at $1,771,534.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eduardo A. Rodriguez sold 2,100 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $56.94, for a total value of $119,574.00. Following the transaction, the director now directly owns 16,025 shares of the company’s stock, valued at approximately $912,463.50. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OKE. Dimensional Fund Advisors LP lifted its position in ONEOK by 23.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,122,593 shares of the utilities provider’s stock valued at $62,203,000 after buying an additional 209,899 shares during the period. OxFORD Asset Management LLP purchased a new position in ONEOK during the third quarter valued at $1,206,000. Cubist Systematic Strategies LLC purchased a new position in ONEOK during the third quarter valued at $406,000. Public Employees Retirement System of Ohio raised its position in shares of ONEOK by 75.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 164,338 shares of the utilities provider’s stock worth $9,106,000 after purchasing an additional 70,693 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of ONEOK in the 3rd quarter worth about $169,000. 68.49% 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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