ONEOK (NYSE:OKE) Given New $92.00 Price Target at Scotiabank

ONEOK (NYSE:OKE) had its price target boosted by investment analysts at Scotiabank from $91.00 to $92.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price would suggest a potential upside of 6.43% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Wells Fargo & Company raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $81.00 to $100.00 in a report on Wednesday, March 25th. Jefferies Financial Group boosted their price objective on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Finally, Mizuho set a $89.00 price objective on shares of ONEOK in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.69.

ONEOK Stock Up 0.3%

Shares of NYSE OKE traded up $0.23 during midday trading on Monday, hitting $86.44. The stock had a trading volume of 444,405 shares, compared to its average volume of 5,006,326. The business’s 50 day moving average is $86.15 and its 200-day moving average is $76.98. The company has a market cap of $54.46 billion, a P/E ratio of 15.93, a PEG ratio of 6.52 and a beta of 0.84. ONEOK has a 52 week low of $64.02 and a 52 week high of $95.30. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same quarter in the prior year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts predict that ONEOK will post 5.07 EPS for the current year.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Capital International Investors purchased a new stake in ONEOK during the fourth quarter valued at approximately $586,500,000. Norges Bank purchased a new stake in ONEOK during the fourth quarter valued at approximately $564,867,000. First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the last quarter. Danske Bank A S increased its holdings in ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after buying an additional 1,644,945 shares during the last quarter. Finally, Man Group plc increased its holdings in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after buying an additional 1,161,352 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

About ONEOK

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.