ONEOK (NYSE:OKE) Rating Increased to Hold at The Goldman Sachs Group

ONEOK (NYSE:OKE) was upgraded by equities research analysts at The Goldman Sachs Group to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

OKE has been the subject of a number of other research reports. Royal Bank Of Canada decreased their target price on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 13th. Raymond James Financial reissued an “outperform” rating on shares of ONEOK in a research report on Friday, August 1st. TD Cowen started coverage on shares of ONEOK in a research report on Monday, July 7th. They set a “hold” rating and a $91.00 target price for the company. Barclays set a $83.00 target price on shares of ONEOK in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $99.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $72.99 on Monday. The firm has a market cap of $45.97 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The firm’s 50 day simple moving average is $75.23 and its 200-day simple moving average is $81.51. ONEOK has a one year low of $70.63 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period last year, the company posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts predict that ONEOK will post 5.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OKE. Rydar Equities Inc. acquired a new stake in ONEOK during the second quarter valued at $345,000. Summit Financial Wealth Advisors LLC grew its position in shares of ONEOK by 2,352.7% in the second quarter. Summit Financial Wealth Advisors LLC now owns 92,051 shares of the utilities provider’s stock valued at $7,514,000 after purchasing an additional 88,298 shares during the period. Corient Private Wealth LLC grew its position in shares of ONEOK by 13.7% in the second quarter. Corient Private Wealth LLC now owns 193,495 shares of the utilities provider’s stock valued at $15,795,000 after purchasing an additional 23,330 shares during the period. Caldwell Trust Co acquired a new stake in shares of ONEOK in the second quarter valued at about $299,000. Finally, Valeo Financial Advisors LLC grew its position in shares of ONEOK by 59.5% in the second quarter. Valeo Financial Advisors LLC now owns 11,305 shares of the utilities provider’s stock valued at $923,000 after purchasing an additional 4,217 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.