Royal Bank Of Canada Issues Pessimistic Forecast for ONEOK (NYSE:OKE) Stock Price

ONEOK (NYSE:OKE) had its target price cut by Royal Bank Of Canada from $100.00 to $94.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 18.96% from the company’s current price.

Several other brokerages also recently commented on OKE. Scotiabank set a $92.00 price objective on shares of ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. Raymond James Financial reiterated an “outperform” rating on shares of ONEOK in a report on Friday. TD Cowen assumed coverage on shares of ONEOK in a report on Monday, July 7th. They issued a “hold” rating and a $91.00 price objective for the company. JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company reduced their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average target price of $104.57.

ONEOK Stock Down 3.8%

OKE stock opened at $79.02 on Friday. The business has a 50 day moving average of $81.42 and a 200 day moving average of $88.64. The firm has a market cap of $49.75 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. ONEOK has a twelve month low of $75.47 and a twelve month high of $118.07. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35.

Institutional Trading of ONEOK

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenline Partners LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $32,000. First Pacific Financial bought a new stake in shares of ONEOK during the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of ONEOK during the 4th quarter valued at $37,000. Financial Network Wealth Advisors LLC boosted its holdings in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after buying an additional 370 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in ONEOK in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Company Profile

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.