Evercore ISI started coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Tuesday, February 5th, The Fly reports. The firm set a $68.00 price target on the utilities provider’s stock. Evercore ISI’s target price points to a potential upside of 3.23% from the company’s current price.
Several other equities analysts also recently weighed in on OKE. Credit Suisse Group began coverage on shares of ONEOK in a report on Thursday, October 11th. They set a “neutral” rating and a $74.00 target price for the company. Seaport Global Securities upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, October 19th. SunTrust Banks initiated coverage on ONEOK in a research note on Friday, January 18th. They issued a “buy” rating and a $72.00 price objective for the company. ValuEngine upgraded ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Finally, Barclays set a $66.00 price objective on ONEOK and gave the stock a “hold” rating in a research note on Wednesday, January 16th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $70.95.
OKE stock traded up $1.61 during trading on Tuesday, hitting $65.87. 3,167,375 shares of the company’s stock traded hands, compared to its average volume of 2,717,771. The company has a quick ratio of 0.51, a current ratio of 0.74 and a debt-to-equity ratio of 1.25. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.46 and a beta of 1.20. ONEOK has a 1 year low of $50.26 and a 1 year high of $71.99.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 25th. The utilities provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). ONEOK had a net margin of 6.96% and a return on equity of 16.32%. During the same quarter last year, the firm earned $0.53 EPS. Analysts anticipate that ONEOK will post 2.95 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OKE. Griffin Asset Management Inc. lifted its stake in shares of ONEOK by 1.4% during the fourth quarter. Griffin Asset Management Inc. now owns 21,735 shares of the utilities provider’s stock worth $1,173,000 after buying an additional 310 shares during the period. Aspire Private Capital LLC acquired a new stake in shares of ONEOK during the fourth quarter worth $46,000. Kentucky Retirement Systems lifted its stake in shares of ONEOK by 5.1% during the fourth quarter. Kentucky Retirement Systems now owns 17,893 shares of the utilities provider’s stock worth $965,000 after buying an additional 862 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of ONEOK during the fourth quarter worth $439,000. Finally, CWM Advisors LLC lifted its stake in shares of ONEOK by 5.5% during the fourth quarter. CWM Advisors LLC now owns 5,648 shares of the utilities provider’s stock worth $305,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 73.96% 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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