UBS Group Boosts ONEOK (NYSE:OKE) Price Target to $132.00

ONEOK (NYSE:OKE) had its target price lifted by stock analysts at UBS Group from $112.00 to $132.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. UBS Group’s price target would suggest a potential upside of 21.27% from the company’s current price.

OKE has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Truist Financial lifted their target price on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays increased their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Up 0.9 %

Shares of OKE traded up $0.97 during trading hours on Friday, reaching $108.85. The company’s stock had a trading volume of 440,594 shares, compared to its average volume of 2,752,546. The company has a 50 day moving average of $96.17 and a two-hundred day moving average of $87.38. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $63.59 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 5.40 and a beta of 1.66. ONEOK has a 1-year low of $64.68 and a 1-year high of $109.21.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, research analysts predict that ONEOK will post 5.15 EPS for the current fiscal year.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OKE. Envestnet Portfolio Solutions Inc. raised its holdings in ONEOK by 21.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,752 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 844 shares in the last quarter. QRG Capital Management Inc. lifted its position in ONEOK by 3.8% in the first quarter. QRG Capital Management Inc. now owns 5,453 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 198 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in ONEOK by 28.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 63,100 shares of the utilities provider’s stock worth $5,059,000 after buying an additional 14,058 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in ONEOK by 2.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 15,166 shares of the utilities provider’s stock valued at $1,216,000 after buying an additional 396 shares during the period. Finally, Nwam LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $201,000. Institutional investors and hedge funds 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.