ONEOK, Inc. (NYSE:OKE) has been given an average recommendation of “Hold” by the twenty-two brokerages that are covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $72.73.

Several brokerages recently weighed in on OKE. Mitsubishi UFJ Financial Group increased their price target on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Credit Suisse Group increased their price target on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus increased their price target on ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a report on Monday, August 12th. Finally, Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target for the company. in a report on Wednesday.

Several hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new stake in ONEOK in the 2nd quarter worth about $27,000. JNBA Financial Advisors boosted its stake in ONEOK by 91.3% in the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after buying an additional 200 shares during the last quarter. IMA Wealth Inc. acquired a new stake in ONEOK in the 2nd quarter worth about $32,000. YorkBridge Wealth Partners LLC boosted its stake in ONEOK by 36.8% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 569 shares of the utilities provider’s stock worth $40,000 after buying an additional 153 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in ONEOK by 82.3% in the 2nd quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock worth $40,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.

Shares of OKE stock traded up $0.68 during trading hours on Friday, hitting $75.77. The stock had a trading volume of 3,108,259 shares, compared to its average volume of 1,867,723. The firm has a market capitalization of $31.01 billion, a PE ratio of 27.26, a PEG ratio of 2.09 and a beta of 1.13. ONEOK has a twelve month low of $50.26 and a twelve month high of $77.21. The stock’s 50 day moving average is $70.91 and its 200 day moving average is $68.67. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.81 and a quick ratio of 0.60.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The company’s revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, equities analysts predict that ONEOK will post 3.12 earnings per share for the current year.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Analyst Recommendations for ONEOK (NYSE:OKE)

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