ONEOK (NYSE:OKE) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of ONEOK (NYSE:OKE) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a hold rating and a $80.00 target price on the utilities provider’s stock.

Several other research firms have also commented on OKE. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 target price (down from $100.00) on shares of ONEOK in a report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $72.00 target price on shares of ONEOK in a research report on Monday, November 3rd. Barclays reduced their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $87.60.

ONEOK Stock Down 0.5%

Shares of NYSE:OKE opened at $74.06 on Tuesday. The company’s fifty day moving average is $72.65 and its two-hundred day moving average is $73.52. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.75 and a current ratio of 0.90. ONEOK has a 1-year low of $64.02 and a 1-year high of $111.02. The stock has a market capitalization of $46.60 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Equities analysts anticipate that ONEOK will post 5.07 EPS for the current year.

Insider Buying and Selling at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director directly owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ONEOK

Several large investors have recently bought and sold shares of the stock. City Holding Co. bought a new position in shares of ONEOK in the third quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new stake in ONEOK in the third quarter worth approximately $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK during the 3rd quarter valued at $29,000. Financial Consulate Inc. acquired a new position in shares of ONEOK during the 3rd quarter valued at $29,000. Finally, Access Investment Management LLC bought a new stake in shares of ONEOK in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.