Wells Fargo & Company Boosts ONEOK (NYSE:OKE) Price Target to $51.00
ONEOK (NYSE:OKE) had its target price lifted by equities researchers at Wells Fargo & Company from $50.00 to $51.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 3.26% from the company’s current price.
Several other brokerages have also recently commented on OKE. Mizuho boosted their price target on ONEOK from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, April 7th. They noted that the move was a valuation call. Royal Bank of Canada boosted their price target on ONEOK from $49.00 to $54.00 and gave the company a “sector perform” rating in a research note on Tuesday. Morgan Stanley boosted their price target on ONEOK from $40.00 to $47.00 and gave the company an “underweight” rating in a research note on Monday, March 29th. Credit Suisse Group boosted their price target on ONEOK from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, March 9th. Finally, Raymond James upped their target price on ONEOK from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.33.
NYSE:OKE opened at $52.72 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.57 and a quick ratio of 1.15. ONEOK has a fifty-two week low of $23.28 and a fifty-two week high of $53.67. The stock’s 50-day moving average is $50.78 and its two-hundred day moving average is $42.13. The stock has a market cap of $23.49 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 3.29 and a beta of 1.99.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Group LLC acquired a new position in shares of ONEOK in the first quarter valued at $25,000. City Holding Co. acquired a new position in shares of ONEOK in the first quarter valued at $30,000. Denali Advisors LLC acquired a new position in ONEOK during the first quarter worth $30,000. Iron Horse Wealth Management LLC acquired a new position in ONEOK during the fourth quarter worth $26,000. Finally, Klaas Financial Asset Advisors LLC acquired a new position in ONEOK during the fourth quarter worth $28,000. Institutional investors and hedge funds own 64.03% of the company’s stock.
ONEOK, Inc, together with its subsidiaries, engages in 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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