ONEOK, Inc. (OKE) PT Set at $51.00 by Jefferies Group LLC

ONEOK, Inc. (NYSE:OKE) has been assigned a $51.00 target price by equities research analysts at Jefferies Group LLC in a report issued on Friday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 1.57% from the company’s previous close.

OKE has been the subject of a number of other reports. TheStreet raised shares of ONEOK from a “c+” rating to a “b-” rating in a report on Monday, March 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of ONEOK in a report on Wednesday, March 1st. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, March 8th. Guggenheim assumed coverage on shares of ONEOK in a report on Monday, April 17th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price objective on shares of ONEOK in a report on Friday, May 12th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.30.

Analyst Recommendations for ONEOK (NYSE:OKE)

Shares of ONEOK (OKE) opened at 50.21 on Friday. The firm’s 50-day moving average is $50.61 and its 200 day moving average is $54.22. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 29.98 and a beta of 1.28. ONEOK has a 12 month low of $42.79 and a 12 month high of $59.47.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Equities analysts expect that ONEOK will post $1.88 EPS for the current year.

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In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $912,412.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of OKE. Proficio Capital Partners LLC raised its position in ONEOK by 5,543.1% in the first quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock worth $214,000 after buying an additional 3,991 shares during the period. Achmea Investment Management B.V. acquired a new position in ONEOK during the first quarter worth $1,846,000. Bank of Nova Scotia raised its position in ONEOK by 33.3% in the first quarter. Bank of Nova Scotia now owns 174,386 shares of the utilities provider’s stock worth $9,668,000 after buying an additional 43,584 shares during the period. Meridian Wealth Management LLC acquired a new position in ONEOK during the first quarter worth $442,000. Finally, Janus Capital Management LLC raised its position in ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock worth $150,838,000 after buying an additional 1,204,683 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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