ONEOK, Inc. (OKE) Earns “Neutral” Rating from J P Morgan Chase & Co
J P Morgan Chase & Co reaffirmed their neutral rating on shares of ONEOK, Inc. (NYSE:OKE) in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a $58.00 price objective on the utilities provider’s stock.
OKE has been the subject of a number of other research reports. BidaskClub raised ONEOK from a sell rating to a hold rating in a report on Friday, August 25th. Credit Suisse Group reduced their target price on ONEOK from $64.00 to $61.00 and set an outperform rating for the company in a report on Thursday, August 3rd. Argus reissued a buy rating and issued a $59.00 target price (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. UBS AG raised ONEOK from a neutral rating to a buy rating and lifted their target price for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. Finally, Jefferies Group LLC set a $51.00 target price on ONEOK and gave the stock a hold rating in a report on Friday, June 16th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $57.57.
ONEOK (OKE) opened at 56.48 on Monday. ONEOK has a 52-week low of $45.41 and a 52-week high of $59.47. The firm has a 50-day moving average price of $53.96 and a 200 day moving average price of $52.84. The stock has a market cap of $21.46 billion, a PE ratio of 35.39 and a beta of 1.32.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period last year, the business earned $0.40 EPS. On average, analysts forecast that ONEOK will post $1.68 earnings per share for the current fiscal year.
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In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $912,412.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OKE. Nationwide Fund Advisors boosted its stake in shares of ONEOK by 5.4% in the 1st quarter. Nationwide Fund Advisors now owns 60,542 shares of the utilities provider’s stock worth $3,356,000 after buying an additional 3,127 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of ONEOK by 6.0% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 7,859 shares of the utilities provider’s stock worth $436,000 after buying an additional 445 shares during the last quarter. Chicago Equity Partners LLC boosted its stake in shares of ONEOK by 6.5% in the 1st quarter. Chicago Equity Partners LLC now owns 9,405 shares of the utilities provider’s stock worth $521,000 after buying an additional 575 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of ONEOK by 1,179.1% in the 1st quarter. American Century Companies Inc. now owns 273,741 shares of the utilities provider’s stock worth $15,176,000 after buying an additional 252,340 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of ONEOK by 18.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 21,207 shares of the utilities provider’s stock worth $1,204,000 after buying an additional 3,325 shares during the last quarter. Hedge funds and other institutional investors own 51.23% of the company’s stock.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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