Wolfe Research started coverage on shares of ONEOK (NYSE:OKE) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $66.00 target price on the utilities provider’s stock.

A number of other research firms have also recently commented on OKE. Barclays cut shares of ONEOK from an overweight rating to an equal weight rating and cut their price target for the stock from $73.00 to $70.00 in a report on Friday, October 12th. Citigroup upgraded shares of ONEOK from a neutral rating to a buy rating and set a $67.00 price target on the stock in a report on Thursday, November 29th. ValuEngine cut shares of ONEOK from a buy rating to a hold rating in a report on Wednesday, August 29th. Goldman Sachs Group initiated coverage on shares of ONEOK in a report on Monday, October 8th. They issued a neutral rating and a $68.00 price target on the stock. Finally, Bank of America upgraded shares of ONEOK from a neutral rating to a buy rating and upped their price target for the stock from $71.00 to $75.00 in a report on Friday, November 2nd. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $70.39.

NYSE OKE opened at $60.19 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.51 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $24.76 billion, a PE ratio of 23.24, a P/E/G ratio of 2.24 and a beta of 0.90. ONEOK has a 12 month low of $51.28 and a 12 month high of $71.99.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.31 billion. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, equities research analysts anticipate that ONEOK will post 2.83 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA lifted its position in shares of ONEOK by 8.9% during the third quarter. Federated Investors Inc. PA now owns 6,119 shares of the utilities provider’s stock valued at $415,000 after buying an additional 501 shares during the last quarter. Morgan Stanley lifted its position in shares of ONEOK by 29.3% during the third quarter. Morgan Stanley now owns 3,060,954 shares of the utilities provider’s stock valued at $207,504,000 after buying an additional 693,501 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ONEOK by 4.1% during the third quarter. Legal & General Group Plc now owns 2,356,615 shares of the utilities provider’s stock valued at $159,755,000 after buying an additional 93,624 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of ONEOK by 0.9% during the third quarter. Teachers Advisors LLC now owns 835,079 shares of the utilities provider’s stock valued at $56,610,000 after buying an additional 7,259 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in shares of ONEOK during the third quarter valued at about $1,059,000. Institutional investors own 73.22% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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