Wells Fargo & Company Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price reduced by equities research analysts at Wells Fargo & Company from $107.00 to $102.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.57% from the stock’s current price.

Several other brokerages also recently commented on OKE. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Barclays began coverage on shares of ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.54.

ONEOK Trading Up 0.9 %

OKE stock opened at $96.62 on Wednesday. The company has a market capitalization of $56.44 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK has a one year low of $73.89 and a one year high of $118.07. The company’s 50 day moving average price is $100.91 and its two-hundred day moving average price is $99.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. As a group, analysts predict that ONEOK will post 5.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONEOK

Several large investors have recently modified their holdings of the stock. Astoria Portfolio Advisors LLC. raised its position in shares of ONEOK by 4.1% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 96 shares during the last quarter. McAdam LLC raised its position in shares of ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in shares of ONEOK by 0.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after purchasing an additional 100 shares during the last quarter. Mutual Advisors LLC raised its position in shares of ONEOK by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its position in ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 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.