Jefferies Financial Group upgraded shares of ONEOK (NYSE:OKE) from a hold rating to a buy rating in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $77.00 price objective on the utilities provider’s stock. Jefferies Financial Group also issued estimates for ONEOK’s Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.72 EPS, FY2018 earnings at $2.80 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.59 EPS, FY2019 earnings at $2.66 EPS, FY2020 earnings at $2.86 EPS, FY2021 earnings at $3.52 EPS and FY2022 earnings at $3.97 EPS.
Several other equities analysts have also commented on the company. ValuEngine lowered ONEOK from a buy rating to a hold rating in a research note on Wednesday, August 29th. Wells Fargo & Co cut their price objective on ONEOK from $77.00 to $75.00 and set an outperform rating on the stock in a report on Thursday, September 13th. Royal Bank of Canada boosted their price objective on ONEOK from $72.00 to $79.00 and gave the company an outperform rating in a report on Friday, July 6th. JPMorgan Chase & Co. boosted their price objective on ONEOK from $65.00 to $74.00 and gave the company a neutral rating in a report on Friday, July 27th. Finally, Seaport Global Securities set a $73.00 price objective on ONEOK and gave the company a hold rating in a report on Friday, July 27th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $69.88.
Shares of ONEOK stock opened at $67.79 on Tuesday. ONEOK has a 52 week low of $49.65 and a 52 week high of $71.99. The firm has a market capitalization of $27.52 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.04.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. ONEOK had a return on equity of 14.70% and a net margin of 6.07%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.20 billion. Equities analysts forecast that ONEOK will post 2.73 earnings per share for the current fiscal year.
In other news, Director Brian L. Derksen acquired 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were purchased at an average price of $67.60 per share, for a total transaction of $101,400.00. Following the acquisition, the director now owns 5,100 shares of the company’s stock, valued at $344,760. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BerganKDV Wealth Management LLC purchased a new stake in ONEOK during the 2nd quarter worth about $117,000. TRUE Private Wealth Advisors acquired a new position in shares of ONEOK during the 3rd quarter worth about $140,000. Private Capital Group LLC boosted its position in shares of ONEOK by 12,150.0% during the 1st quarter. Private Capital Group LLC now owns 2,205 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 2,187 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of ONEOK by 205.6% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Cribstone Capital Management LLC boosted its position in shares of ONEOK by 40.8% during the 2nd quarter. Cribstone Capital Management LLC now owns 2,535 shares of the utilities provider’s stock worth $177,000 after acquiring an additional 735 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.
ONEOK Company Profile
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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