Jefferies Financial Group Upgrades ONEOK (NYSE:OKE) to “Buy”

ONEOK (NYSE:OKE) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $98.00 price target on the utilities provider’s stock, up from their previous price target of $85.00. Jefferies Financial Group’s price target suggests a potential upside of 9.85% from the company’s previous close.

Several other research analysts have also commented on the stock. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Barclays increased their target price on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Scotiabank reissued an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.53.

ONEOK Price Performance

OKE stock opened at $89.22 on Friday. The business’s fifty day moving average price is $82.10 and its 200 day moving average price is $75.18. ONEOK has a 12-month low of $64.02 and a 12-month high of $103.64. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $56.19 billion, a PE ratio of 16.46, a P/E/G ratio of 6.79 and a beta of 0.93.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period last year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, sell-side analysts anticipate that ONEOK will post 5.07 EPS for the current year.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently modified their holdings of the company. Zions Bancorporation National Association UT raised its stake in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Winnow Wealth LLC acquired a new position in shares of ONEOK during the 3rd quarter worth about $28,000. City Holding Co. purchased a new position in shares of ONEOK in the 3rd quarter valued at about $28,000. Elyxium Wealth LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $29,000. Finally, Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK during the 3rd quarter worth about $29,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Company Profile

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.