Barclays Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its price objective dropped by research analysts at Barclays from $105.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 12.74% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial upped 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. Scotiabank lowered their target price on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday. Citigroup assumed coverage on ONEOK in a report on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Down 0.2 %

Shares of NYSE OKE opened at $89.59 on Friday. ONEOK has a twelve month low of $76.23 and a twelve month high of $118.07. The stock has a market cap of $55.93 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company’s fifty day moving average is $100.00 and its 200-day moving average is $99.37.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. raised its stake in ONEOK by 6.5% in the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock valued at $541,000 after buying an additional 364 shares during the period. Graypoint LLC raised its stake in ONEOK by 15.3% in the 3rd quarter. Graypoint LLC now owns 6,433 shares of the utilities provider’s stock valued at $586,000 after acquiring an additional 853 shares during the period. Principal Financial Group Inc. lifted its holdings in ONEOK by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after purchasing an additional 24,193 shares during the last quarter. Heronetta Management L.P. boosted its position in ONEOK by 0.8% during the third quarter. Heronetta Management L.P. now owns 158,252 shares of the utilities provider’s stock worth $14,422,000 after purchasing an additional 1,200 shares during the period. Finally, Leavell Investment Management Inc. increased its holdings in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.