ONEOK (NYSE:OKE) Downgraded to Peer Perform Rating by Wolfe Research

ONEOK (NYSE:OKE) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Wednesday, MarketBeat.com reports.

Several other equities research analysts have also commented on OKE. Stifel Nicolaus set a $94.00 price target on shares of ONEOK in a report on Thursday, October 30th. Wells Fargo & Company decreased their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, November 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price target on shares of ONEOK in a research report on Monday, November 3rd. Finally, Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has an average rating of “Hold” and an average target price of $86.27.

ONEOK Price Performance

Shares of NYSE:OKE opened at $82.89 on Wednesday. ONEOK has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44. The company has a market cap of $52.16 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 4.90 and a beta of 0.96. The company’s 50 day moving average is $77.52 and its 200 day moving average is $73.79.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.50 by $0.05. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.38%. During the same period in the prior year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, sell-side analysts forecast that ONEOK will post 5.07 EPS for the current year.

Hedge Funds Weigh In On ONEOK

Large investors have recently modified their holdings of the business. MidFirst Bank acquired a new position in ONEOK during the fourth quarter worth $9,533,000. Alternative Investment Advisors LLC. grew its position in ONEOK by 1.4% in the 4th quarter. Alternative Investment Advisors LLC. now owns 12,832 shares of the utilities provider’s stock valued at $943,000 after acquiring an additional 183 shares in the last quarter. SG Trading Solutions LLC purchased a new stake in ONEOK during the fourth quarter worth about $498,000. Pacer Advisors Inc. lifted its position in shares of ONEOK by 18.6% during the fourth quarter. Pacer Advisors Inc. now owns 129,728 shares of the utilities provider’s stock worth $9,535,000 after purchasing an additional 20,302 shares in the last quarter. Finally, Floyd Financial Group LLC boosted its stake in shares of ONEOK by 3.2% in the fourth quarter. Floyd Financial Group LLC now owns 11,851 shares of the utilities provider’s stock valued at $871,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.