Jefferies Group Reaffirms “Hold” Rating for Oneok Inc. (OKE)
OKE has been the subject of a number of other research reports. Morgan Stanley cut Oneok from an overweight rating to an equal weight rating and boosted their target price for the stock from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG upgraded Oneok from a sell rating to a hold rating and boosted their target price for the stock from $49.00 to $52.00 in a report on Monday, October 10th. Royal Bank Of Canada upped their price target on Oneok from $39.00 to $46.00 and gave the stock a sector perform rating in a report on Tuesday, August 16th. Zacks Investment Research upgraded Oneok from a hold rating to a buy rating and set a $51.00 price target for the company in a report on Tuesday, July 26th. Finally, RBC Capital Markets restated a sector perform rating and issued a $46.00 price target (up previously from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $41.00.
Oneok (NYSE:OKE) opened at 50.13 on Friday. Oneok has a one year low of $18.84 and a one year high of $51.72. The stock has a 50 day moving average of $48.89 and a 200-day moving average of $43.65. The firm has a market capitalization of $10.55 billion, a PE ratio of 38.12 and a beta of 1.10.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts predict that Oneok will post $1.72 EPS for the current year.
Several large investors have recently bought and sold shares of OKE. Washington Trust Bank raised its stake in Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Oneok during the second quarter valued at about $123,000. Baker Ellis Asset Management LLC purchased a new stake in Oneok during the second quarter valued at about $133,000. WFG Advisors LP raised its stake in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock valued at $140,000 after buying an additional 88 shares in the last quarter. Finally, Euclid Advisors LLC purchased a new stake in Oneok during the second quarter valued at about $149,000. 72.28% of the stock is currently owned by institutional investors and hedge funds.
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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