J P Morgan Chase & Co reaffirmed their neutral rating on shares of ONEOK, Inc. (NYSE:OKE) in a research report report published on Monday, September 11th, Marketbeat Ratings reports. They currently have a $58.00 price objective on the utilities provider’s stock.
A number of other brokerages have also commented on OKE. Credit Suisse Group lowered their price objective on ONEOK from $64.00 to $61.00 and set an outperform rating for the company in a research report on Thursday, August 3rd. Jefferies Group LLC restated a hold rating and set a $52.00 target price (up from $51.00) on shares of ONEOK in a research report on Friday, September 1st. Barclays PLC initiated coverage on ONEOK in a research report on Tuesday, September 5th. They set an equal weight rating and a $58.00 target price for the company. BidaskClub upgraded ONEOK from a hold rating to a buy rating in a research report on Friday, August 4th. Finally, Argus reiterated a buy rating and set a $59.00 price objective (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ONEOK presently has an average rating of Hold and an average target price of $57.57.
Shares of ONEOK (NYSE OKE) opened at 55.06 on Monday. ONEOK has a 52 week low of $45.41 and a 52 week high of $59.47. The stock has a market cap of $20.92 billion, a PE ratio of 34.50 and a beta of 1.32. The company’s 50-day moving average is $53.98 and its 200 day moving average is $52.90.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts forecast that ONEOK will post $1.68 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of OKE. BlackRock Inc. lifted its holdings in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after purchasing an additional 18,091,903 shares in the last quarter. State Street Corp lifted its holdings in shares of ONEOK by 53.7% in the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 17.3% in the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after purchasing an additional 4,002,795 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of ONEOK by 10,295.1% in the second quarter. Janus Henderson Group PLC now owns 2,258,138 shares of the utilities provider’s stock valued at $117,779,000 after purchasing an additional 2,236,415 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ONEOK in the first quarter valued at approximately $90,888,000. Institutional investors own 51.26% of the company’s stock.
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.
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