Morgan Stanley cut shares of Oneok Inc. (NYSE:OKE) from an overweight rating to an equal weight rating in a research report report published on Tuesday morning. Morgan Stanley currently has $50.00 price objective on the stock, up from their prior price objective of $48.00. The analysts noted that the move was a valuation call.
Several other research firms have also issued reports on OKE. RBC Capital Markets restated a sector perform rating and issued a $46.00 price target (up previously from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Royal Bank Of Canada lifted their price target on shares of Oneok from $39.00 to $46.00 and gave the stock a sector perform rating in a research report on Tuesday, August 16th. Jefferies Group lifted their price objective on shares of Oneok from $42.00 to $43.00 and gave the stock a hold rating in a research report on Monday, July 25th. Zacks Investment Research cut shares of Oneok from a buy rating to a hold rating in a research report on Tuesday, August 9th. Finally, Citigroup Inc. lifted their price objective on shares of Oneok from $35.00 to $53.00 and gave the stock a buy rating in a research report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Oneok presently has an average rating of Hold and an average price target of $38.93.
Shares of Oneok (NYSE:OKE) traded down 0.010% on Tuesday, hitting $49.535. The company had a trading volume of 229,566 shares. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 37.669 and a beta of 1.10. The company has a 50 day moving average of $48.49 and a 200-day moving average of $42.76. Oneok has a 12-month low of $18.84 and a 12-month high of $51.72.
Oneok (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts forecast that Oneok will post $1.73 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Washington Trust Bank raised its position in Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock worth $103,000 after buying an additional 11 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Oneok during the second quarter valued at about $123,000. Baker Ellis Asset Management LLC bought a new position in Oneok during the second quarter valued at about $133,000. WFG Advisors LP increased its position in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock valued at $140,000 after buying an additional 88 shares during the last quarter. Finally, Euclid Advisors LLC bought a new position in Oneok during the second quarter valued at about $149,000. 72.29% of the stock is owned by hedge funds and other institutional investors.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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