ONEOK (NYSE:OKE) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday, The Fly reports.

Other equities analysts have also recently issued reports about the company. UBS Group lifted their price objective on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research cut ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Wells Fargo & Co raised ONEOK from a “market perform” rating to an “outperform” rating in a report on Thursday, January 11th. Bank of America assumed coverage on ONEOK in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, Mizuho assumed coverage on ONEOK in a report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.14.

Shares of ONEOK (OKE) opened at $58.67 on Tuesday. The firm has a market capitalization of $24,082.64, a P/E ratio of 36.67, a P/E/G ratio of 2.22 and a beta of 1.25. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK has a fifty-two week low of $47.14 and a fifty-two week high of $59.30.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the previous year, the business posted $0.43 earnings per share. analysts predict that ONEOK will post 1.77 earnings per share for the current year.

In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of the stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Gofen & Glossberg LLC IL raised its holdings in shares of ONEOK by 22.5% during the 4th quarter. Gofen & Glossberg LLC IL now owns 26,845 shares of the utilities provider’s stock worth $1,435,000 after buying an additional 4,925 shares in the last quarter. Atria Investments LLC raised its holdings in shares of ONEOK by 14.5% during the 4th quarter. Atria Investments LLC now owns 54,008 shares of the utilities provider’s stock worth $2,887,000 after buying an additional 6,855 shares in the last quarter. Starfire Investment Advisers Inc. acquired a new position in shares of ONEOK during the 4th quarter worth $2,105,000. Walnut Private Equity Partners LLC raised its holdings in shares of ONEOK by 4.2% during the 4th quarter. Walnut Private Equity Partners LLC now owns 148,995 shares of the utilities provider’s stock worth $7,771,000 after buying an additional 6,000 shares in the last quarter. Finally, Benson Investment Management Company Inc. raised its holdings in shares of ONEOK by 2.1% during the 4th quarter. Benson Investment Management Company Inc. now owns 44,565 shares of the utilities provider’s stock worth $2,382,000 after buying an additional 905 shares in the last quarter. 69.94% of the stock is owned by institutional investors.

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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.

The Fly

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