ONEOK (NYSE:OKE) Downgraded to “Peer Perform” Rating by Wolfe Research

ONEOK (NYSE:OKE) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday, Marketbeat.com reports.

OKE has been the topic of several other reports. Scotiabank reissued an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Stifel Nicolaus set a $94.00 target price on ONEOK in a report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Barclays reduced their price target on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, Jefferies Financial Group started coverage on ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.27.

ONEOK Stock Performance

NYSE:OKE opened at $82.89 on Wednesday. ONEOK has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a market cap of $52.16 billion, a P/E ratio of 15.29, a PEG ratio of 4.90 and a beta of 0.96. The business’s 50-day moving average price is $77.52 and its two-hundred day moving average price is $73.79.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.38% and a net margin of 10.09%.During the same period last year, the firm earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, equities analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its stake in shares of ONEOK by 84.0% during the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 1,848 shares during the last quarter. National Pension Service grew its holdings in shares of ONEOK by 2.9% during the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after buying an additional 24,003 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in shares of ONEOK by 34.1% during the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after buying an additional 22,282 shares during the last quarter. Meixler Investment Management Ltd. increased its position in shares of ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after acquiring an additional 17,714 shares during the period. Finally, Nordea Investment Management AB raised its stake in ONEOK by 7.5% in the 3rd quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock worth $55,885,000 after acquiring an additional 54,444 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.