A number of other equities research analysts also recently issued reports on OKE. Zacks Investment Research upgraded shares of Oneok from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Tuesday, July 26th. Royal Bank Of Canada increased their price objective on shares of Oneok from $39.00 to $46.00 and gave the stock a sector perform rating in a research note on Tuesday, August 16th. RBC Capital Markets reiterated a sector perform rating and set a $46.00 price objective (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Morgan Stanley downgraded shares of Oneok from an overweight rating to an equal weight rating and increased their price objective for the stock from $48.00 to $50.00 in a research note on Tuesday, October 4th. They noted that the move was a valuation call. Finally, Deutsche Bank AG upgraded shares of Oneok from a sell rating to a hold rating and increased their price objective for the stock from $49.00 to $52.00 in a research note on Monday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $41.00.
Shares of Oneok (NYSE:OKE) opened at 50.13 on Friday. The company’s 50 day moving average is $48.89 and its 200-day moving average is $43.65. The company has a market capitalization of $10.55 billion, a P/E ratio of 38.12 and a beta of 1.10. Oneok has a 1-year low of $18.84 and a 1-year high of $51.72.
Oneok (NYSE:OKE) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts forecast that Oneok will post $1.72 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Washington Trust Bank raised its position in Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock valued at $103,000 after buying an additional 11 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Oneok during the second quarter valued at about $123,000. Baker Ellis Asset Management LLC purchased a new position in Oneok during the second quarter valued at about $133,000. WFG Advisors LP raised its position in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock valued at $140,000 after buying an additional 88 shares during the last quarter. Finally, Euclid Advisors LLC purchased a new position in Oneok during the second quarter valued at about $149,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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