Oneok Inc. (OKE) Upgraded by Deutsche Bank AG to “Hold”
Oneok Inc. (NYSE:OKE) was upgraded by investment analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a report issued on Monday.
OKE has been the subject of several other reports. Morgan Stanley cut Oneok from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $48.00 to $50.00 in a research report on Tuesday, October 4th. They noted that the move was a valuation call. Royal Bank Of Canada increased their price target on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price target (up from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Zacks Investment Research raised Oneok from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, July 26th. Finally, Jefferies Group reissued a “hold” rating on shares of Oneok in a research report on Wednesday, August 3rd. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.93.
Shares of Oneok (NYSE:OKE) opened at 49.36 on Monday. Oneok has a one year low of $18.84 and a one year high of $51.72. The stock’s 50 day moving average price is $48.60 and its 200 day moving average price is $43.00. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 37.54 and a beta of 1.10.
Oneok (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same period last year, the firm earned $0.36 EPS. On average, equities analysts anticipate that Oneok will post $1.72 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of OKE. Trust Co. of Oklahoma raised its position in Oneok by 34.5% in the third quarter. Trust Co. of Oklahoma now owns 16,384 shares of the company’s stock worth $842,000 after buying an additional 4,200 shares during the period. LifePlan Financial Group Inc bought a new position in Oneok during the third quarter worth approximately $295,000. BNP Paribas Arbitrage SA raised its position in Oneok by 87.1% in the third quarter. BNP Paribas Arbitrage SA now owns 66,373 shares of the company’s stock worth $3,411,000 after buying an additional 30,897 shares during the period. Washington Trust Bank raised its position in Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock worth $103,000 after buying an additional 11 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Oneok during the second quarter worth approximately $403,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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