ONEOK (NYSE:OKE) has been given a $79.00 price target by Barclays in a research report issued to clients and investors on Tuesday, October 15th, TipRanks reports. The brokerage currently has a “hold” rating on the utilities provider’s stock. Barclays‘s target price suggests a potential upside of 12.09% from the company’s current price.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a research report on Wednesday, September 18th. Credit Suisse Group boosted their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Argus boosted their target price on ONEOK to $82.00 and gave the stock an “average” rating in a research report on Tuesday, August 6th. UBS Group upgraded ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Monday, August 12th. Finally, Mitsubishi UFJ Financial Group boosted their target price on ONEOK to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Buy” and an average price target of $74.71.
Shares of OKE traded up $0.71 during trading hours on Tuesday, reaching $70.48. 1,716,742 shares of the company’s stock traded hands, compared to its average volume of 1,912,538. The stock has a market cap of $29.68 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 2.01. The firm’s 50 day simple moving average is $71.29 and its 200-day simple moving average is $69.30. ONEOK has a 12 month low of $50.26 and a 12 month high of $77.21.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. During the same quarter last year, the company posted $0.75 EPS. As a group, analysts expect that ONEOK will post 3.1 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in OKE. State of Tennessee Treasury Department increased its stake in shares of ONEOK by 313.3% during the third quarter. State of Tennessee Treasury Department now owns 981,378 shares of the utilities provider’s stock valued at $72,318,000 after buying an additional 743,900 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of ONEOK during the second quarter valued at approximately $51,047,000. Vanguard Group Inc. boosted its position in shares of ONEOK by 1.6% during the second quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock valued at $3,208,599,000 after purchasing an additional 739,353 shares in the last quarter. Scout Investments Inc. bought a new stake in shares of ONEOK during the third quarter valued at approximately $44,621,000. Finally, Invesco Ltd. boosted its position in shares of ONEOK by 19.6% during the second quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock valued at $229,398,000 after purchasing an additional 546,731 shares in the last quarter. 74.40% of the stock is currently owned by institutional investors and hedge funds.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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