ONEOK (NYSE:OKE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

ONEOK (NYSE:OKE) had its price target increased by investment analysts at Royal Bank Of Canada from $79.00 to $84.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 5.20% from the company’s current price.

Several other brokerages have also recently issued reports on OKE. UBS Group reduced their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group started coverage on shares of ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Barclays lifted their price objective on shares of ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $86.33.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $2.42 on Thursday, hitting $88.61. 941,324 shares of the company were exchanged, compared to its average volume of 4,709,925. The firm has a market capitalization of $55.80 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 6.59 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. ONEOK has a 1-year low of $64.02 and a 1-year high of $103.64. The stock’s 50 day moving average price is $81.45 and its 200 day moving average price is $74.99.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period in the prior year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts predict that ONEOK will post 5.07 EPS for the current year.

Institutional Investors Weigh In On ONEOK

Several hedge funds have recently bought and sold shares of the stock. Zions Bancorporation National Association UT increased its holdings in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Winnow Wealth LLC acquired a new stake in ONEOK during the third quarter valued at $28,000. City Holding Co. purchased a new position in ONEOK in the third quarter valued at $28,000. Elyxium Wealth LLC purchased a new position in ONEOK in the fourth quarter valued at $29,000. Finally, Global Wealth Strategies & Associates acquired a new position in shares of ONEOK in the third quarter worth about $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

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.