ONEOK (NYSE:OKE) PT Raised to $78.00

ONEOK (NYSE:OKE – Get Rating) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $75.00 to $78.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 21.12% from the company’s previous close.

Several other brokerages have also recently issued reports on OKE. Wells Fargo & Company raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $75.00 in a research note on Friday, December 16th. Citigroup initiated coverage on shares of ONEOK in a research report on Thursday, December 8th. They set a “neutral” rating and a $67.00 price target on the stock. Seaport Res Ptn reissued a “neutral” rating on shares of ONEOK in a research report on Thursday, February 16th. Morgan Stanley boosted their price target on shares of ONEOK from $70.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, January 9th. Finally, Barclays boosted their price target on shares of ONEOK from $59.00 to $71.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 18th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.27.

ONEOK Trading Down 1.9 %

Shares of OKE opened at $64.40 on Thursday. ONEOK has a 52-week low of $50.50 and a 52-week high of $75.07. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. The firm’s fifty day moving average is $68.05 and its two-hundred day moving average is $63.47. The stock has a market cap of $28.80 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.49 and a beta of 1.68.

ONEOK (NYSE:OKE – Get Rating) last announced its earnings results on Monday, February 27th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. ONEOK had a net margin of 7.69% and a return on equity of 27.65%. The company had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Research analysts forecast that ONEOK will post 5.14 earnings per share for the current fiscal year.

Institutional Trading of ONEOK

Institutional investors and hedge funds have recently bought and sold shares of the business. Chilton Capital Management LLC purchased a new stake in ONEOK during the second quarter worth about $116,000. AdvisorNet Financial Inc increased its stake in ONEOK by 10.4% during the third quarter. AdvisorNet Financial Inc now owns 23,657 shares of the utilities provider’s stock worth $1,212,000 after purchasing an additional 2,235 shares during the period. Brinker Capital Investments LLC increased its stake in ONEOK by 1.1% during the third quarter. Brinker Capital Investments LLC now owns 24,611 shares of the utilities provider’s stock worth $1,261,000 after purchasing an additional 259 shares during the period. Monarch Capital Management Inc. increased its stake in ONEOK by 90.7% during the third quarter. Monarch Capital Management Inc. now owns 7,779 shares of the utilities provider’s stock worth $399,000 after purchasing an additional 3,700 shares during the period. Finally, State Street Corp increased its stake in ONEOK by 1.0% during the second quarter. State Street Corp now owns 33,164,685 shares of the utilities provider’s stock worth $1,840,640,000 after purchasing an additional 339,036 shares during the period. 67.16% of the stock is currently owned by hedge funds and other institutional investors.

About ONEOK

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ONEOK, Inc engages in gathering, processing, fractionating, transporting, storing and marketing of natural gas. It operates through the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment offers midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma.