ONEOK, Inc. (NYSE:OKE) Director Brian L. Derksen acquired 8,700 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were bought at an average cost of $22.70 per share, with a total value of $197,490.00. Following the transaction, the director now directly owns 13,800 shares in the company, valued at approximately $313,260. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of ONEOK stock traded up $1.55 during trading on Thursday, hitting $24.66. 278,726 shares of the stock were exchanged, compared to its average volume of 9,678,688. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 0.60 and a beta of 1.18. The firm’s 50-day moving average price is $57.92 and its 200 day moving average price is $69.22. ONEOK, Inc. has a 12-month low of $12.16 and a 12-month high of $78.48. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.73 and a quick ratio of 0.48.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.72 billion. ONEOK had a net margin of 12.58% and a return on equity of 20.27%. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 3.63 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in OKE. Tarbox Family Office Inc. lifted its position in shares of ONEOK by 113.1% during the 4th quarter. Tarbox Family Office Inc. now owns 326 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 173 shares during the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $26,000. Duncker Streett & Co. Inc. acquired a new stake in ONEOK during the 4th quarter worth $26,000. Princeton Global Asset Management LLC acquired a new stake in ONEOK during the 4th quarter worth $28,000. Finally, M&R Capital Management Inc. acquired a new stake in ONEOK during the 4th quarter worth $30,000. 74.83% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on OKE. Credit Suisse Group raised shares of ONEOK from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $79.00 to $50.00 in a research report on Wednesday, March 11th. SunTrust Banks increased their price objective on shares of ONEOK from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Co increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on shares of ONEOK from $82.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Robert W. Baird cut shares of ONEOK from an “outperform” rating to a “neutral” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $74.48.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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