ONEOK (NYSE:OKE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

ONEOK (NYSE:OKE) had its price target hoisted by Morgan Stanley from $103.00 to $105.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 8.43% from the stock’s previous close.

A number of other research analysts also recently issued reports on OKE. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Wells Fargo & Company lowered their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on ONEOK from $91.00 to $92.00 and gave the company 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $1.52 during midday trading on Tuesday, hitting $96.84. The company had a trading volume of 710,344 shares, compared to its average volume of 4,371,163. ONEOK has a 12-month low of $64.02 and a 12-month high of $97.90. The company has a fifty day moving average of $89.62 and a two-hundred day moving average of $87.80. The company has a market cap of $61.05 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 7.10 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

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

Institutional Investors Weigh In On ONEOK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors bought a new stake in ONEOK in the fourth quarter worth $586,500,000. Norges Bank purchased a new stake in shares of ONEOK in the fourth quarter valued at $564,867,000. BlackRock Inc. raised its stake in shares of ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock valued at $5,610,887,000 after acquiring an additional 5,148,768 shares during the period. Legal & General Group Plc bought a new stake in shares of ONEOK in the 2nd quarter worth about $389,985,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in shares of ONEOK during the 2nd quarter worth about $335,958,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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.