ONEOK, Inc. (NYSE:OKE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $55.25, but opened at $56.47. ONEOK shares last traded at $57.64, with a volume of 3788540 shares changing hands.
Several research analysts recently issued reports on OKE shares. Zacks Investment Research raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Bank of America assumed coverage on ONEOK in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Royal Bank of Canada upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Barclays upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $58.00 to $67.00 in a report on Wednesday, January 17th. Finally, TheStreet lowered ONEOK from a “b” rating to a “c+” rating in a report on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. ONEOK has a consensus rating of “Buy” and a consensus target price of $61.29.
The stock has a market capitalization of $23,738.76, a price-to-earnings ratio of 43.34, a P/E/G ratio of 2.92 and a beta of 1.26. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 1.42.
ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $4.10 billion. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. During the same period in the previous year, the company posted $0.43 earnings per share. sell-side analysts forecast that ONEOK, Inc. will post 2.48 earnings per share for the current fiscal year.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $56.70, for a total value of $124,740.00. Following the sale, the vice president now directly owns 31,244 shares in the company, valued at $1,771,534.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund raised its stake in shares of ONEOK by 1.6% in the third quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock valued at $30,625,000 after buying an additional 8,800 shares during the period. Neuberger Berman Group LLC raised its stake in shares of ONEOK by 3.3% in the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after buying an additional 300,031 shares during the period. Cohen & Steers Inc. raised its stake in shares of ONEOK by 91.3% in the third quarter. Cohen & Steers Inc. now owns 2,570,282 shares of the utilities provider’s stock valued at $142,419,000 after buying an additional 1,226,876 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of ONEOK by 32.9% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 59,710 shares of the utilities provider’s stock valued at $3,191,000 after buying an additional 14,777 shares during the period. Finally, Harvest Fund Advisors LLC bought a new stake in shares of ONEOK in the third quarter valued at $414,256,000. Hedge funds and other institutional investors own 68.44% of the company’s stock.
ONEOK Company Profile
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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