BMO Capital Markets set a $62.00 price objective on ONEOK, Inc. (NYSE:OKE) in a report published on Wednesday. The brokerage currently has a buy rating on the utilities provider’s stock.

Several other brokerages also recently weighed in on OKE. Stifel Nicolaus reaffirmed a hold rating and set a $54.00 price target on shares of ONEOK in a research report on Thursday, October 12th. Zacks Investment Research raised ONEOK from a hold rating to a strong-buy rating and set a $65.00 price target on the stock in a research report on Tuesday. J P Morgan Chase & Co reaffirmed a neutral rating and set a $58.00 price target on shares of ONEOK in a research report on Monday, September 11th. Mizuho began coverage on ONEOK in a research report on Tuesday, October 10th. They set a neutral rating and a $59.00 price target on the stock. Finally, Credit Suisse Group cut their price target on ONEOK from $64.00 to $61.00 and set an outperform rating on the stock in a research report on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. ONEOK has a consensus rating of Buy and an average target price of $58.86.

ONEOK (NYSE:OKE) traded up 0.34% during mid-day trading on Wednesday, reaching $56.00. The company’s stock had a trading volume of 2,309,081 shares. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 35.09 and a beta of 1.30. The stock has a 50-day moving average price of $55.95 and a 200-day moving average price of $53.23. ONEOK has a one year low of $45.41 and a one year high of $59.47.

ONEOK (NYSE:OKE) last announced 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 company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period in the prior year, the business posted $0.40 earnings per share. Equities research analysts forecast that ONEOK will post $1.72 EPS for the current year.

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Hedge funds have recently bought and sold shares of the stock. Cipher Capital LP boosted its holdings in ONEOK by 166.9% in the 2nd quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock worth $2,938,000 after buying an additional 35,228 shares during the last quarter. Crawford Investment Counsel Inc. boosted its holdings in ONEOK by 61.2% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock worth $2,120,000 after buying an additional 15,427 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ONEOK by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock worth $52,732,000 after buying an additional 302,407 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in ONEOK in the 2nd quarter worth about $2,358,000. Finally, Capital Advisors Inc. OK boosted its holdings in ONEOK by 224.8% in the 2nd quarter. Capital Advisors Inc. OK now owns 31,934 shares of the utilities provider’s stock worth $1,666,000 after buying an additional 22,102 shares during the last quarter. Institutional investors own 51.30% of the company’s stock.

About ONEOK

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.

Analyst Recommendations for ONEOK (NYSE:OKE)

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