ONEOK (NYSE:OKE) Stock Price Target Raised at Freedom Broker

ONEOK (NYSE:OKE) had its target price lifted by equities researchers at Freedom Broker from $105.00 to $110.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. Freedom Broker‘s price objective indicates a potential upside of 19.05% from the stock’s previous close.

A number of other research analysts also recently commented on the company. UBS Group set a $93.00 target price on ONEOK in a report on Friday, September 11th. Truist Financial upped their target price on shares of ONEOK from $104.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday. The Goldman Sachs Group raised their price target on ONEOK from $88.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Morgan Stanley raised their price objective on shares of ONEOK from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 9th. Finally, Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.65.

ONEOK Stock Down 4.8%

ONEOK stock traded down $4.67 during midday trading on Monday, hitting $92.40. 3,530,651 shares of the stock were exchanged, compared to its average volume of 4,141,871. ONEOK has a 1 year low of $64.02 and a 1 year high of $99.85. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.66. The firm has a market cap of $58.25 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.80 and a beta of 0.77. The company has a 50 day moving average price of $92.86 and a two-hundred day moving average price of $88.59.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.63. The company had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $10.54 billion. ONEOK had a return on equity of 16.36% and a net margin of 9.42%. During the same period last year, the firm earned $1.49 earnings per share. On average, sell-side analysts predict that ONEOK will post 6.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ONEOK

A number of hedge funds have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. acquired a new position in shares of ONEOK during the second quarter worth about $28,000. Transamerica Financial Advisors LLC grew its holdings in ONEOK by 69.6% during the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 149 shares during the period. Wilkerson Advisory Group LLC raised its stake in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 133 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of ONEOK by 46.0% during the 1st quarter. Meeder Asset Management Inc. now owns 400 shares of the utilities provider’s stock worth $36,000 after buying an additional 126 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in ONEOK during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.