ONEOK, Inc. (OKE) Receives $57.15 Average Price Target from Analysts
ONEOK, Inc. (NYSE:OKE) has been assigned an average recommendation of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $57.15.
OKE has been the topic of a number of recent analyst reports. Argus reiterated a “buy” rating and set a $59.00 price target (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $59.00 in a research report on Wednesday, June 14th. Morgan Stanley downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research report on Wednesday, July 5th. Finally, Barclays PLC started coverage on ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price objective on the stock.
ONEOK (OKE) traded up 0.78% during trading on Wednesday, reaching $55.84. The company had a trading volume of 2,596,206 shares. The firm has a 50-day moving average of $53.98 and a 200-day moving average of $52.90. ONEOK has a 1-year low of $45.41 and a 1-year high of $59.47. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 34.99 and a beta of 1.30.
ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company posted $0.40 EPS. On average, analysts anticipate that ONEOK will post $1.72 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Yorkville Capital Management LLC purchased a new stake in ONEOK during the second quarter worth $261,000. W. E. Donoghue & Co. LLC acquired a new stake in ONEOK in the second quarter valued at $17,217,000. Achmea Investment Management B.V. grew its holdings in ONEOK by 8.6% in the second quarter. Achmea Investment Management B.V. now owns 36,150 shares of the utilities provider’s stock valued at $1,883,000 after purchasing an additional 2,854 shares during the last quarter. Sentry Investment Management LLC grew its holdings in ONEOK by 6.9% in the second quarter. Sentry Investment Management LLC now owns 16,252 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new stake in ONEOK in the second quarter valued at $378,000. 51.26% of the stock is owned by hedge funds and other institutional investors.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
Receive News & Ratings for ONEOK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.