Deutsche Bank AG upgraded shares of Oneok Inc. (NYSE:OKE) from a sell rating to a hold rating in a research note released on Monday morning. They currently have $52.00 target price on the stock, up from their previous target price of $49.00.
OKE has been the topic of several other research reports. Morgan Stanley cut shares of Oneok from an overweight rating to an equal weight rating and raised their price target for the company from $48.00 to $50.00 in a research report on Tuesday, October 4th. They noted that the move was a valuation call. Royal Bank Of Canada raised their price target on shares of Oneok from $39.00 to $46.00 and gave the company a sector perform rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued a sector perform rating and set a $46.00 target price (up previously from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. Zacks Investment Research raised shares of Oneok from a hold rating to a buy rating and set a $51.00 target price on the stock in a research report on Tuesday, July 26th. Finally, Jefferies Group reissued a hold rating on shares of Oneok in a research report on Wednesday, August 3rd. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $40.79.
Oneok (NYSE:OKE) opened at 50.21 on Monday. The firm’s 50-day moving average price is $48.72 and its 200-day moving average price is $43.45. Oneok has a 12 month low of $18.84 and a 12 month high of $51.72. The firm has a market cap of $10.57 billion, a P/E ratio of 38.18 and a beta of 1.10.
Oneok (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that Oneok will post $1.72 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 acquired a new position in Oneok during the second quarter worth $123,000. Baker Ellis Asset Management LLC acquired a new position in Oneok during the second quarter worth $133,000. WFG Advisors LP raised its position in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock worth $140,000 after buying an additional 88 shares in the last quarter. Finally, Euclid Advisors LLC acquired a new position in Oneok during the second quarter worth $149,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
Oneok Company Profile
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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