ONEOK (NYSE:OKE) Price Target Cut to $100.00 by Analysts at JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its target price dropped by research analysts at JPMorgan Chase & Co. from $106.00 to $100.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.55% from the company’s current price.

A number of other research analysts also recently commented on the company. Scotiabank boosted their target price on ONEOK from $89.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 1st. Citigroup lifted their target price on shares of ONEOK from $97.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Capital One Financial began coverage on shares of ONEOK in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $110.00 target price for the company. Truist Financial increased their price target on shares of ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada lifted their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $96.53.

ONEOK Stock Up 1.2%

OKE traded up $1.06 on Tuesday, reaching $89.64. 479,575 shares of the company traded hands, compared to its average volume of 4,240,949. The company has a market cap of $56.51 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.50 and a beta of 0.82. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock’s 50 day moving average price is $92.25 and its 200-day moving average price is $90.09. ONEOK has a 52-week low of $64.02 and a 52-week high of $99.85.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the business posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts expect that ONEOK will post 5.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of ONEOK by 8.7% during the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after purchasing an additional 5,148,768 shares in the last quarter. Legal & General Group Plc bought a new position in shares of ONEOK during the 2nd quarter worth approximately $389,985,000. Kayne Anderson Capital Advisors LP acquired a new stake in ONEOK in the 2nd quarter valued at $335,958,000. Jupiter Topco LLC bought a new stake in ONEOK in the second quarter valued at $324,807,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in ONEOK during the second quarter worth $204,672,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a diversified energy infrastructure company that owns and operates midstream assets in the United States. Its operations connect producers, processors, storage facilities and end-use markets across major energy-producing and consuming regions.

The company’s businesses include natural gas gathering, processing, transportation and storage, as well as natural gas liquids (NGL) gathering, fractionation, storage and transportation. ONEOK also operates infrastructure serving refined products and crude oil markets, including pipelines and terminals.