ONEOK (NYSE:OKE) had its target price cut by stock analysts at Stifel Nicolaus from $38.00 to $36.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the utilities provider’s stock. Stifel Nicolaus’ price objective points to a potential upside of 28.99% from the stock’s current price.
A number of other research firms also recently commented on OKE. SunTrust Banks dropped their price objective on ONEOK from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Raymond James cut their target price on shares of ONEOK from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. UBS Group upped their price target on ONEOK from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Bank of America lowered ONEOK from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Thursday, June 11th. Finally, ValuEngine cut ONEOK from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $44.95.
OKE stock opened at $27.91 on Thursday. The company has a market capitalization of $12.40 billion, a P/E ratio of 18.73, a PEG ratio of 1.86 and a beta of 2.19. The company has a 50-day simple moving average of $31.00 and a 200 day simple moving average of $43.17. ONEOK has a fifty-two week low of $12.16 and a fifty-two week high of $78.48. The company has a quick ratio of 1.01, a current ratio of 1.71 and a debt-to-equity ratio of 2.30.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.19). ONEOK had a net margin of 7.13% and a return on equity of 18.28%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company’s revenue was down 32.4% on a year-over-year basis. Equities analysts anticipate that ONEOK will post 2.61 EPS for the current year.
Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in ONEOK by 26.7% in the first quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock valued at $16,051,000 after acquiring an additional 48,432 shares during the period. Quadrant Capital Group LLC lifted its stake in ONEOK by 70.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,207 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 1,323 shares during the last quarter. Man Group plc boosted its position in ONEOK by 450.2% in the fourth quarter. Man Group plc now owns 38,497 shares of the utilities provider’s stock valued at $2,913,000 after buying an additional 31,500 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of ONEOK by 82.5% during the fourth quarter. Sunbelt Securities Inc. now owns 5,566 shares of the utilities provider’s stock worth $421,000 after buying an additional 2,516 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new position in shares of ONEOK during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 64.75% of the company’s stock.
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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