ONEOK (NYSE:OKE) Price Target Raised to $88.00

ONEOK (NYSE:OKE) had its target price upped by Stifel Nicolaus from $81.00 to $88.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on OKE. Wolfe Research upgraded shares of ONEOK from an underperform rating to a peer perform rating in a report on Wednesday, January 10th. Raymond James boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an outperform rating in a research note on Friday, January 19th. StockNews.com raised shares of ONEOK from a sell rating to a hold rating in a research report on Wednesday, March 6th. Truist Financial boosted their price target on shares of ONEOK from $71.00 to $81.00 and gave the company a hold rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an overweight rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $82.25.

ONEOK Trading Down 1.0 %

OKE opened at $77.07 on Tuesday. ONEOK has a 1-year low of $55.91 and a 1-year high of $80.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The company has a market cap of $44.98 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.65. The company has a fifty day moving average price of $76.17 and a two-hundred day moving average price of $70.81.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period last year, the firm posted $1.08 earnings per share. Analysts predict that ONEOK will post 4.98 EPS for the current fiscal year.

ONEOK announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the utilities provider to buy up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the company’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of ONEOK

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MCF Advisors LLC increased its stake in ONEOK by 22.9% during the 1st quarter. MCF Advisors LLC now owns 2,284 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 425 shares in the last quarter. First Dallas Securities Inc. increased its stake in ONEOK by 0.7% during the 1st quarter. First Dallas Securities Inc. now owns 65,272 shares of the utilities provider’s stock valued at $5,233,000 after purchasing an additional 481 shares in the last quarter. Firethorn Wealth Partners LLC purchased a new stake in shares of ONEOK during the 1st quarter valued at about $224,000. Register Financial Advisors LLC purchased a new position in shares of ONEOK in the first quarter worth approximately $229,000. Finally, Stokes Capital Advisors LLC boosted its holdings in shares of ONEOK by 5.8% in the first quarter. Stokes Capital Advisors LLC now owns 5,491 shares of the utilities provider’s stock worth $440,000 after buying an additional 301 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.