Jefferies Group Reiterates Hold Rating for Oneok Inc. (OKE)
Oneok Inc. (NYSE:OKE)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group in a report issued on Sunday. They presently have a $46.00 target price on the stock. Jefferies Group’s price objective would suggest a potential downside of 8.24% from the stock’s current price.
Several other analysts also recently weighed in on the stock. Morgan Stanley downgraded shares of Oneok from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG raised shares of Oneok from a “sell” rating to a “hold” rating and lifted their target price for the company from $49.00 to $52.00 in a report on Monday, October 10th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 target price (up previously from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Oneok has an average rating of “Hold” and a consensus price target of $41.00.
Shares of Oneok (NYSE:OKE) opened at 50.13 on Friday. The stock has a market cap of $10.55 billion, a PE ratio of 38.12 and a beta of 1.10. Oneok has a 1-year low of $18.84 and a 1-year high of $51.72. The stock has a 50 day moving average of $48.89 and a 200 day moving average of $43.65.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that Oneok will post $1.72 EPS for the current year.
Several hedge funds have recently made changes to their positions in OKE. Bank of Montreal Can acquired a new position in shares of Oneok during the second quarter worth about $14,794,000. Energy Income Partners LLC boosted its position in shares of Oneok by 5.9% in the first quarter. Energy Income Partners LLC now owns 944,249 shares of the company’s stock worth $28,195,000 after buying an additional 52,623 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Oneok by 2.9% in the first quarter. Geode Capital Management LLC now owns 1,715,697 shares of the company’s stock worth $51,126,000 after buying an additional 48,653 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Oneok by 2.9% in the first quarter. Legal & General Group Plc now owns 1,030,202 shares of the company’s stock worth $30,757,000 after buying an additional 28,955 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in shares of Oneok during the second quarter worth about $571,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
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.
Receive News & Stock Ratings for Oneok Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oneok Inc. and related stocks with our FREE daily email newsletter.