Oneok Inc. (NYSE:OKE)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group in a research note issued on Sunday. They presently have a $46.00 target price on the stock. Jefferies Group’s price objective would indicate a potential downside of 8.24% from the stock’s previous close.
A number of other brokerages also recently weighed in on OKE. Morgan Stanley downgraded shares of Oneok from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call. RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 price target (up from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Royal Bank Of Canada upped their price target on shares of Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Deutsche Bank AG raised shares of Oneok from a “sell” rating to a “hold” rating and upped their price objective for the company from $49.00 to $52.00 in a research note on Monday, October 10th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.
Shares of Oneok (NYSE:OKE) opened at 50.13 on Friday. The firm’s 50-day moving average is $48.89 and its 200 day moving average is $43.65. Oneok has a 1-year low of $18.84 and a 1-year high of $51.72. The stock has a market capitalization of $10.55 billion, a P/E ratio of 38.12 and a beta of 1.10.
Oneok (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ 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 last year, the company earned $0.36 earnings per share. On average, analysts expect that Oneok will post $1.72 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock worth $982,554,000 after buying an additional 1,401,380 shares in the last quarter. Riverhead Capital Management LLC increased its position in Oneok by 1,143.8% in the second quarter. Riverhead Capital Management LLC now owns 962,591 shares of the company’s stock worth $8,490,000 after buying an additional 885,199 shares in the last quarter. Bank of New York Mellon Corp increased its position in Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock worth $191,625,000 after buying an additional 724,684 shares in the last quarter. Sasco Capital Inc. CT increased its position in Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock worth $169,317,000 after buying an additional 711,734 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Oneok by 6.2% in the second quarter. BlackRock Fund Advisors now owns 11,605,034 shares of the company’s stock worth $550,659,000 after buying an additional 677,055 shares in the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.
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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