ONEOK, Inc. (NYSE:OKE)‘s stock had its “neutral” rating restated by J P Morgan Chase & Co in a research report issued on Monday. They presently have a $58.00 target price on the utilities provider’s stock. J P Morgan Chase & Co’s price target would suggest a potential upside of 3.41% from the company’s current price.
Several other equities analysts have also issued reports on the company. Barclays PLC assumed coverage on ONEOK in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target on the stock. Jefferies Group LLC restated a “hold” rating and set a $52.00 price target (up from $51.00) on shares of ONEOK in a research note on Friday, September 1st. BidaskClub upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Argus restated 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. Finally, Credit Suisse Group lowered their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.57.
ONEOK (OKE) opened at 56.09 on Monday. The stock has a 50 day moving average price of $53.92 and a 200 day moving average price of $52.82. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 35.14 and a beta of 1.32. ONEOK has a 12 month low of $45.41 and a 12 month high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.12). ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts expect that ONEOK will post $1.68 earnings per share for the current fiscal year.
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In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OKE. Nationwide Fund Advisors boosted its holdings in shares of ONEOK by 5.4% in the 1st quarter. Nationwide Fund Advisors now owns 60,542 shares of the utilities provider’s stock worth $3,356,000 after acquiring an additional 3,127 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of ONEOK by 6.0% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 7,859 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 445 shares in the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of ONEOK by 6.5% in the 1st quarter. Chicago Equity Partners LLC now owns 9,405 shares of the utilities provider’s stock worth $521,000 after acquiring an additional 575 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of ONEOK by 1,179.1% in the 1st quarter. American Century Companies Inc. now owns 273,741 shares of the utilities provider’s stock worth $15,176,000 after acquiring an additional 252,340 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of ONEOK by 18.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 21,207 shares of the utilities provider’s stock worth $1,204,000 after acquiring an additional 3,325 shares in the last quarter. 51.23% of the stock is currently owned by institutional investors and hedge funds.
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.
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