ONEOK (OKE) Lifted to Buy at ValuEngine
ONEOK (NYSE:OKE) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Other analysts have also recently issued research reports about the company. US Capital Advisors restated a “buy” rating on shares of ONEOK in a research report on Tuesday, July 17th. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Tuesday, July 3rd. Jefferies Financial Group upgraded ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Tuesday. Seaport Global Securities upgraded ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday. Finally, Barclays cut ONEOK from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $73.00 to $70.00 in a research report on Friday, October 12th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $69.88.
OKE traded up $0.87 during midday trading on Friday, reaching $67.79. The company had a trading volume of 3,165,000 shares, compared to its average volume of 2,540,361. The company has a quick ratio of 0.40, a current ratio of 0.56 and a debt-to-equity ratio of 1.04. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 2.59 and a beta of 0.98. ONEOK has a 1 year low of $49.65 and a 1 year high of $71.99.
In other ONEOK news, Director Brian L. Derksen bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average price of $67.60 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director now owns 5,100 shares of the company’s stock, valued at approximately $344,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OKE. BerganKDV Wealth Management LLC purchased a new stake in shares of ONEOK during the second quarter worth about $117,000. Private Capital Group LLC grew its position in shares of ONEOK by 12,150.0% during the first quarter. Private Capital Group LLC now owns 2,205 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 2,187 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of ONEOK during the third quarter worth about $140,000. Rehmann Capital Advisory Group grew its position in shares of ONEOK by 205.6% during the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Cribstone Capital Management LLC grew its position in shares of ONEOK by 40.8% during the second quarter. Cribstone Capital Management LLC now owns 2,535 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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