ONEOK, Inc. (NYSE:OKE) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $56.64.
OKE has been the topic of a number of research analyst reports. Zacks Investment Research cut ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada restated a “hold” rating and set a $58.00 price target on shares of ONEOK in a report on Friday, May 12th. BMO Capital Markets restated a “hold” rating and set a $53.00 price target on shares of ONEOK in a report on Monday, April 17th. BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Morgan Stanley cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a report on Wednesday, July 5th.
Shares of ONEOK (OKE) traded up 1.33% during mid-day trading on Friday, reaching $53.16. 2,081,959 shares of the company’s stock traded hands. ONEOK has a 12 month low of $42.79 and a 12 month high of $59.47. The company has a 50 day moving average of $50.19 and a 200 day moving average of $53.84. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 31.74 and a beta of 1.30.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.82 billion. ONEOK had a return on equity of 10.33% and a net margin of 3.60%. Analysts expect that ONEOK will post $2.14 earnings per share for the current fiscal year.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after buying an additional 18,091,903 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of ONEOK during the first quarter valued at about $90,888,000. Janus Capital Management LLC raised its stake in shares of ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock valued at $150,838,000 after buying an additional 1,204,683 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after buying an additional 1,190,284 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of ONEOK during the first quarter valued at about $58,755,000. 81.58% of the stock is owned by institutional investors and hedge funds.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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