BMO Capital Markets Reaffirms “Buy” Rating for ONEOK (OKE)

ONEOK (NYSE:OKE)‘s stock had its “buy” rating reissued by investment analysts at BMO Capital Markets in a research report issued on Tuesday. They presently have a $64.00 price objective on the utilities provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 9.08% from the company’s current price.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Mizuho started coverage on ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 price objective for the company. UBS Group increased their price objective on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price objective on shares of ONEOK in a research report on Thursday, October 12th. Finally, Wells Fargo & Co upgraded ONEOK from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 11th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.29.

Shares of ONEOK (OKE) traded up $0.31 during trading on Tuesday, reaching $58.67. The company had a trading volume of 2,965,200 shares, compared to its average volume of 3,619,600. The stock has a market capitalization of $22,660.00, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. ONEOK has a 52 week low of $47.14 and a 52 week high of $59.30. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter in the previous year, the company posted $0.43 earnings per share. equities research analysts predict that ONEOK will post 1.77 earnings per share for the current fiscal year.

In other news, Director Brian L. Derksen purchased 1,800 shares of the stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in OKE. Ropes Wealth Advisors LLC purchased a new position in ONEOK in the second quarter valued at $103,000. Winslow Evans & Crocker Inc. boosted its holdings in ONEOK by 462.9% in the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,620 shares during the period. Mercer Capital Advisers Inc. boosted its holdings in ONEOK by 229.8% in the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 1,379 shares during the period. Enterprise Financial Services Corp boosted its holdings in ONEOK by 332.8% in the third quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,744 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new position in ONEOK in the third quarter valued at $150,000. Hedge funds and other institutional investors own 69.94% of the company’s stock.

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ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

Analyst Recommendations for ONEOK (NYSE:OKE)

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