ONEOK (NYSE:OKE) Price Target Raised to $84.00

ONEOK (NYSE:OKE) had its price objective hoisted by research analysts at Royal Bank Of Canada from $79.00 to $84.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 5.20% from the stock’s previous close.

A number of other research firms have also recently commented on OKE. Scotiabank restated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Mizuho set a $89.00 target price on shares of ONEOK in a research note on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. Finally, Wells Fargo & Company raised their price objective on ONEOK from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.33.

ONEOK Trading Up 2.8%

Shares of OKE traded up $2.42 during midday trading on Thursday, hitting $88.61. The stock had a trading volume of 941,324 shares, compared to its average volume of 4,709,925. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The firm has a market cap of $55.80 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 6.59 and a beta of 0.93. ONEOK has a 1 year low of $64.02 and a 1 year high of $103.64. The stock’s 50 day moving average is $81.45 and its 200 day moving average is $74.99.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT grew its position in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the last quarter. City Holding Co. purchased a new position in ONEOK in the third quarter worth $28,000. Winnow Wealth LLC acquired a new position in shares of ONEOK during the third quarter worth $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK in the 3rd quarter worth $29,000. Finally, Financial Consulate Inc. purchased a new position in ONEOK during the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.