Analysts at Tudor Pickering assumed coverage on shares of ONEOK (NYSE:OKE) in a research report issued on Friday, The Fly reports. The brokerage set a “buy” rating and a $74.00 price target on the utilities provider’s stock. Tudor Pickering’s target price suggests a potential upside of 4.99% from the company’s previous close.
Several other equities analysts have also weighed in on OKE. Mitsubishi UFJ Financial Group boosted their target price on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays set a $79.00 target price on shares of ONEOK and gave the company a “hold” rating in a report on Tuesday, October 15th. Raymond James decreased their target price on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $73.00 to $81.00 in a report on Sunday, November 3rd. Finally, Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a report on Wednesday, September 18th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $74.71.
OKE traded up $0.71 on Friday, reaching $70.48. 1,716,742 shares of the company’s stock were exchanged, compared to its average volume of 1,912,538. The stock has a market cap of $29.68 billion, a PE ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13. ONEOK has a twelve month low of $50.26 and a twelve month high of $77.21. The stock’s fifty day moving average price is $71.29 and its 200-day moving average price is $69.30. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.95.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, research analysts predict that ONEOK will post 3.1 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in OKE. FMR LLC increased its stake in ONEOK by 26.7% during the 1st quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock worth $16,051,000 after buying an additional 48,432 shares during the period. Calton & Associates Inc. purchased a new stake in ONEOK during the 2nd quarter worth approximately $252,000. Crossmark Global Holdings Inc. increased its stake in ONEOK by 2.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 30,673 shares of the utilities provider’s stock worth $2,111,000 after buying an additional 671 shares during the period. Retirement Systems of Alabama increased its stake in ONEOK by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after buying an additional 822 shares during the period. Finally, Chesley Taft & Associates LLC increased its stake in ONEOK by 2.7% during the 2nd quarter. Chesley Taft & Associates LLC now owns 9,625 shares of the utilities provider’s stock worth $662,000 after buying an additional 250 shares during the period. 74.40% of the stock is currently owned by institutional investors and hedge funds.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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