ONEOK (NYSE:OKE) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.
Several other research firms have also recently weighed in on OKE. JPMorgan Chase & Co. boosted their price target on ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Barclays boosted their price target on ONEOK from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut ONEOK from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 19th. Jefferies Financial Group cut ONEOK from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Seaport Global Securities set a $73.00 price target on ONEOK and gave the stock a “hold” rating in a research note 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. ONEOK has a consensus rating of “Buy” and an average price target of $70.06.
OKE stock opened at $64.81 on Friday. ONEOK has a 1-year low of $49.65 and a 1-year high of $71.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.56 and a quick ratio of 0.40. The firm has a market capitalization of $26.02 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 16.44% and a net margin of 6.96%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. As a group, research analysts anticipate that ONEOK will post 2.73 EPS 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 stock was bought at an average price of $67.60 per share, with a total value of $101,400.00. Following the completion of the acquisition, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $344,760. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of OKE. Copeland Capital Management LLC grew its holdings in ONEOK by 0.7% during the third quarter. Copeland Capital Management LLC now owns 207,640 shares of the utilities provider’s stock valued at $14,076,000 after purchasing an additional 1,407 shares during the period. Mission Wealth Management LP bought a new stake in ONEOK during the third quarter valued at about $201,000. Private Advisor Group LLC grew its holdings in ONEOK by 87.0% during the third quarter. Private Advisor Group LLC now owns 19,108 shares of the utilities provider’s stock valued at $1,295,000 after purchasing an additional 8,892 shares during the period. Chicago Equity Partners LLC grew its holdings in ONEOK by 1,271.5% during the third quarter. Chicago Equity Partners LLC now owns 56,230 shares of the utilities provider’s stock valued at $3,812,000 after purchasing an additional 52,130 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in ONEOK by 22.2% during the third quarter. Victory Capital Management Inc. now owns 259,549 shares of the utilities provider’s stock valued at $17,595,000 after purchasing an additional 47,234 shares during the period. 73.29% of the stock is owned by institutional investors.
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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