ONEOK (NYSE:OKE) PT Raised to $75.00

ONEOK (NYSE:OKEGet Rating) had its price target upped by stock analysts at Raymond James from $70.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Raymond James’ target price points to a potential upside of 3.92% from the company’s current price.

A number of other research firms have also recently weighed in on OKE. Mizuho lifted their price objective on shares of ONEOK from $61.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, March 2nd. Wells Fargo & Company increased their price target on ONEOK from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 8th. Citigroup boosted their price objective on ONEOK from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, January 6th. The Goldman Sachs Group upgraded ONEOK from a “sell” rating to a “neutral” rating and increased their target price for the company from $58.00 to $68.00 in a research report on Thursday, January 13th. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their price target on shares of ONEOK from $63.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.00.

NYSE OKE opened at $72.17 on Wednesday. ONEOK has a 1 year low of $48.51 and a 1 year high of $73.38. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.75 and a quick ratio of 0.56. The company has a market capitalization of $32.23 billion, a PE ratio of 21.48, a P/E/G ratio of 2.23 and a beta of 1.80. The company has a fifty day moving average of $67.38 and a 200 day moving average of $63.76.

ONEOK (NYSE:OKEGet Rating) last issued its quarterly earnings data on Monday, February 28th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.03). The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $4.34 billion. ONEOK had a net margin of 9.07% and a return on equity of 25.14%. During the same period last year, the firm earned $0.69 EPS. Research analysts expect that ONEOK will post 3.79 earnings per share for the current year.

In other ONEOK news, Director Mark W. Helderman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $67.27, for a total value of $2,018,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Nwam LLC increased its holdings in shares of ONEOK by 3.2% during the 3rd quarter. Nwam LLC now owns 5,406 shares of the utilities provider’s stock worth $314,000 after buying an additional 168 shares during the last quarter. Essex Financial Services Inc. increased its stake in ONEOK by 3.6% during the third quarter. Essex Financial Services Inc. now owns 5,103 shares of the utilities provider’s stock worth $296,000 after acquiring an additional 175 shares during the last quarter. Donaldson Capital Management LLC increased its stake in ONEOK by 0.9% during the fourth quarter. Donaldson Capital Management LLC now owns 20,918 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 184 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of ONEOK by 10.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,916 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 185 shares during the last quarter. Finally, Private Wealth Advisors LLC grew its holdings in shares of ONEOK by 3.3% during the 3rd quarter. Private Wealth Advisors LLC now owns 5,821 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 186 shares during the period. 64.90% of the stock is currently owned by institutional investors.

About ONEOK (Get Rating)

ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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