ONEOK (NYSE:OKE) PT Raised to $91.00

ONEOK (NYSE:OKE) had its price objective boosted by research analysts at Wells Fargo & Company from $85.00 to $91.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.29% from the stock’s previous close.

A number of other brokerages have also recently weighed in on OKE. Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus boosted their target price on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.50.

ONEOK Stock Performance

OKE traded up $1.71 during trading hours on Wednesday, hitting $84.03. 771,336 shares of the stock were exchanged, compared to its average volume of 2,761,477. The stock has a market cap of $49.04 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. ONEOK has a 12 month low of $60.58 and a 12 month high of $86.20. The stock has a 50-day simple moving average of $81.41 and a 200-day simple moving average of $78.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the previous year, the business posted $1.04 EPS. Analysts anticipate that ONEOK will post 5.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of ONEOK during the 4th quarter valued at about $297,948,000. Charles Schwab Investment Management Inc. lifted its stake in ONEOK by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after purchasing an additional 2,153,295 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in ONEOK by 77.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,086,559 shares of the utilities provider’s stock worth $216,738,000 after buying an additional 1,351,626 shares in the last quarter. Wellington Management Group LLP grew its position in ONEOK by 2,643.5% in the fourth quarter. Wellington Management Group LLP now owns 1,170,739 shares of the utilities provider’s stock worth $82,209,000 after buying an additional 1,128,066 shares during the last quarter. Finally, M&G Plc acquired a new position in ONEOK in the first quarter worth approximately $77,634,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.