ONEOK (NYSE:OKE) Stock Price Target Cut by JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $106.00 to $100.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.56% from the company’s previous close.

Several other research analysts have also recently issued reports on OKE. Capital One Financial began coverage on ONEOK in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $110.00 price objective for the company. TD Cowen upped their price target on shares of ONEOK from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Friday, September 11th. UBS Group set a $93.00 price target on shares of ONEOK in a report on Friday, September 11th. Royal Bank Of Canada raised their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Scotiabank boosted their price objective on shares of ONEOK from $89.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.53.

ONEOK Price Performance

Shares of NYSE:OKE opened at $88.06 on Tuesday. ONEOK has a 52 week low of $64.02 and a 52 week high of $99.85. The company has a 50-day moving average price of $92.22 and a 200 day moving average price of $90.11. The company has a market cap of $55.51 billion, a P/E ratio of 15.18, a PEG ratio of 2.54 and a beta of 0.82. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts predict that ONEOK will post 5.73 earnings per share for the current year.

Institutional Investors Weigh In On ONEOK

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. State Street Corp raised its position in shares of ONEOK by 5.0% during the 2nd quarter. State Street Corp now owns 43,633,749 shares of the utilities provider’s stock worth $3,793,518,000 after purchasing an additional 2,059,368 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in ONEOK by 1.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 11,834,827 shares of the utilities provider’s stock valued at $1,028,920,000 after buying an additional 155,652 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ONEOK by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,552,597 shares of the utilities provider’s stock valued at $502,000,000 after buying an additional 187,880 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in ONEOK by 5.2% during the 1st quarter. Bank of America Corp DE now owns 5,504,989 shares of the utilities provider’s stock valued at $497,596,000 after buying an additional 272,704 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a diversified energy infrastructure company that owns and operates midstream assets in the United States. Its operations connect producers, processors, storage facilities and end-use markets across major energy-producing and consuming regions.

The company’s businesses include natural gas gathering, processing, transportation and storage, as well as natural gas liquids (NGL) gathering, fractionation, storage and transportation. ONEOK also operates infrastructure serving refined products and crude oil markets, including pipelines and terminals.