ONEOK (NYSE:OKE) was upgraded by equities research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday.
OKE has been the topic of several other reports. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Tuesday, October 17th. Credit Suisse Group started coverage on ONEOK in a report on Monday. They set an “outperform” rating and a $62.00 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $54.00 target price on shares of ONEOK in a report on Thursday, October 12th. BMO Capital Markets set a $62.00 target price on ONEOK and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, Mizuho initiated coverage on ONEOK in a report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ONEOK has an average rating of “Hold” and an average target price of $59.14.
Shares of ONEOK (OKE) opened at $56.74 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. ONEOK has a twelve month low of $47.14 and a twelve month high of $59.30. The stock has a market capitalization of $21,760.00, a PE ratio of 35.46, a P/E/G ratio of 2.88 and a beta of 1.26.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. equities research analysts anticipate that ONEOK will post 1.79 earnings per share for the current year.
In other news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of ONEOK by 17.3% during the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after acquiring an additional 4,002,795 shares during the period. BlackRock Inc. increased its position in shares of ONEOK by 28.4% during the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after acquiring an additional 5,317,251 shares during the period. State Street Corp increased its position in shares of ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after acquiring an additional 6,086,061 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in shares of ONEOK by 269.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock worth $739,659,000 after acquiring an additional 9,737,701 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of ONEOK by 184.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after acquiring an additional 6,148,494 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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