ONEOK, Inc. (NYSE:OKE)‘s stock had its “hold” rating reissued by analysts at Jefferies Group LLC in a research note issued on Friday. They currently have a $52.00 target price on the utilities provider’s stock, up from their previous target price of $51.00. Jefferies Group LLC’s price objective suggests a potential downside of 4.81% from the company’s previous close.
Several other research firms have also recently commented on OKE. Credit Suisse Group decreased their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. BidaskClub upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Argus restated a “buy” rating and set a $59.00 price target (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a research note on Wednesday, July 5th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.54.
Shares of ONEOK (OKE) traded up 0.87% during mid-day trading on Friday, hitting $54.63. 2,077,848 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $53.57 and a 200-day moving average price of $52.78. The stock has a market cap of $20.76 billion, a P/E ratio of 34.23 and a beta of 1.31. ONEOK has a 1-year low of $45.41 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.12. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period last year, the business earned $0.40 earnings per share. Equities research analysts anticipate that ONEOK will post $1.67 EPS for the current fiscal year.
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In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’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 sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV purchased a new stake in shares of ONEOK during the first quarter valued at approximately $100,000. Delta Asset Management LLC TN purchased a new stake in shares of ONEOK during the second quarter valued at approximately $103,000. Ropes Wealth Advisors LLC purchased a new stake in shares of ONEOK during the second quarter valued at approximately $103,000. Smithfield Trust Co. increased its stake in shares of ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after buying an additional 1,034 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock valued at $122,000 after buying an additional 554 shares in the last quarter. 51.23% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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