ONEOK (NYSE:OKE) Price Target Raised to $91.00

ONEOK (NYSE:OKE) had its price target upped by research analysts at Wells Fargo & Company from $85.00 to $91.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.29% from the stock’s current price.

Other analysts have also issued research reports about the stock. Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.50.

ONEOK Stock Up 2.1 %

NYSE:OKE traded up $1.71 on Wednesday, hitting $84.03. The stock had a trading volume of 771,336 shares, compared to its average volume of 2,761,477. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK has a 52 week low of $60.58 and a 52 week high of $86.20. The business’s fifty day moving average is $81.41 and its 200 day moving average is $78.26. The company has a market cap of $49.04 billion, a PE ratio of 19.56, a P/E/G ratio of 4.37 and a beta of 1.65.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the business earned $1.04 EPS. On average, equities research analysts expect that ONEOK will post 5.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in ONEOK by 2.2% in the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares in the last quarter. Sheets Smith Wealth Management lifted its position in ONEOK by 0.3% during the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after acquiring an additional 139 shares during the period. Ameritas Advisory Services LLC grew its holdings in ONEOK by 0.3% in the second quarter. Ameritas Advisory Services LLC now owns 42,597 shares of the utilities provider’s stock worth $3,474,000 after purchasing an additional 140 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of ONEOK by 5.3% during the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 142 shares during the last quarter. Finally, Monarch Capital Management Inc. grew its stake in shares of ONEOK by 0.9% in the 2nd quarter. Monarch Capital Management Inc. now owns 15,716 shares of the utilities provider’s stock worth $1,282,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.