ONEOK (NYSE:OKE) Price Target Lowered to $87.00 at Scotiabank

ONEOK (NYSE:OKE) had its price target dropped by Scotiabank from $88.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price would suggest a potential upside of 35.25% from the stock’s current price.

Several other brokerages have also issued reports on OKE. Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Barclays cut their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ONEOK in a research note on Wednesday, October 8th. Royal Bank Of Canada cut their price target on shares of ONEOK from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 13th. Finally, Morgan Stanley cut their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.80.

ONEOK Trading Down 1.6%

Shares of NYSE OKE traded down $1.04 during trading on Tuesday, hitting $64.33. 1,332,308 shares of the company were exchanged, compared to its average volume of 3,897,658. The firm has a market capitalization of $40.48 billion, a PE ratio of 11.81, a P/E/G ratio of 2.62 and a beta of 1.01. ONEOK has a 12-month low of $64.24 and a 12-month high of $118.07. The company has a fifty day moving average price of $71.62 and a 200-day moving average price of $77.65. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, equities research analysts expect that ONEOK will post 5.07 EPS for the current year.

Hedge Funds Weigh In On ONEOK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northcape Wealth Management LLC acquired a new position in ONEOK in the third quarter valued at approximately $251,000. Mutual Advisors LLC boosted its holdings in ONEOK by 3.4% in the third quarter. Mutual Advisors LLC now owns 11,438 shares of the utilities provider’s stock valued at $798,000 after purchasing an additional 371 shares in the last quarter. Donaldson Capital Management LLC boosted its holdings in ONEOK by 9.5% in the third quarter. Donaldson Capital Management LLC now owns 20,735 shares of the utilities provider’s stock valued at $1,513,000 after purchasing an additional 1,805 shares in the last quarter. Lee Financial Co boosted its holdings in ONEOK by 22.1% in the third quarter. Lee Financial Co now owns 27,145 shares of the utilities provider’s stock valued at $1,981,000 after purchasing an additional 4,910 shares in the last quarter. Finally, Independent Advisor Alliance lifted its stake in ONEOK by 1.2% in the third quarter. Independent Advisor Alliance now owns 23,677 shares of the utilities provider’s stock valued at $1,728,000 after buying an additional 275 shares during the last quarter. 69.13% of the stock is 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.