Barclays Boosts ONEOK (NYSE:OKE) Price Target to $99.00

ONEOK (NYSE:OKE) had its target price upped by equities researchers at Barclays from $94.00 to $99.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would indicate a potential upside of 0.40% from the stock’s current price.

OKE has been the subject of a number of other research reports. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research report on Thursday, July 18th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $96.92.

ONEOK Trading Up 3.1 %

NYSE:OKE opened at $98.61 on Monday. The company has a market cap of $57.61 billion, a PE ratio of 20.63, a P/E/G ratio of 3.98 and a beta of 1.66. The business’s 50 day moving average is $94.01 and its two-hundred day moving average is $86.20. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK has a 52 week low of $63.33 and a 52 week high of $98.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the business earned $0.99 earnings per share. On average, analysts predict that ONEOK will post 5.16 EPS for the current year.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ONEOK

Several large investors have recently made changes to their positions in OKE. HM Payson & Co. boosted its holdings in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares in the last quarter. Haverford Trust Co grew its holdings in shares of ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 117 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of ONEOK by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 119 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares during the period. Finally, Brighton Jones LLC boosted its position in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after purchasing an additional 122 shares during the period. Institutional investors own 69.13% of the company’s stock.

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.