ONEOK (NYSE:OKE) Raised to Hold at Wall Street Zen

ONEOK (NYSE:OKE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

A number of other research firms have also issued reports on OKE. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Royal Bank Of Canada upped their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Truist Financial lifted their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.81.

ONEOK Stock Performance

Shares of NYSE OKE opened at $90.28 on Friday. The business’s 50-day simple moving average is $89.06 and its 200-day simple moving average is $87.25. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. ONEOK has a 52 week low of $64.02 and a 52 week high of $96.07. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 4.50 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK will post 5.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ONEOK

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors bought a new stake in ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank bought a new position in ONEOK in the 4th quarter valued at $564,867,000. BlackRock Inc. boosted its stake in ONEOK by 8.7% in the second 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. First Eagle Investment Management LLC boosted its stake in ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of ONEOK during the second quarter worth $204,672,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Company Profile

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.