Brokerages Set ONEOK, Inc. (OKE) Price Target at $57.15
Shares of ONEOK, Inc. (NYSE:OKE) have earned a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $57.15.
OKE has been the subject of several research reports. Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and set a $52.00 price objective (up previously from $51.00) on shares of ONEOK in a report on Friday, September 1st. BidaskClub raised ONEOK from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, June 21st. Finally, Zacks Investment Research cut ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of ONEOK by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after buying an additional 4,002,795 shares in the last quarter. BlackRock Inc. raised its holdings in shares of ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after buying an additional 5,317,251 shares in the last quarter. State Street Corp raised its holdings in shares of ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after buying an additional 6,086,061 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of ONEOK by 6.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock valued at $474,586,000 after buying an additional 526,450 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ONEOK by 25.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock valued at $356,012,000 after buying an additional 1,369,438 shares in the last quarter. 51.26% of the stock is currently owned by institutional investors.
ONEOK (NYSE:OKE) traded down 0.02% during midday trading on Wednesday, hitting $55.41. The stock had a trading volume of 2,496,227 shares. The stock has a market cap of $21.06 billion, a P/E ratio of 34.72 and a beta of 1.32. ONEOK has a 52 week low of $45.41 and a 52 week high of $59.47. The company has a 50-day moving average price of $53.98 and a 200-day moving average price of $52.90.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts expect that ONEOK will post $1.72 EPS for the current year.
ONEOK Company Profile
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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