Barclays Lowers ONEOK (NYSE:OKE) Price Target to $101.00

ONEOK (NYSE:OKE) had its target price lowered by equities researchers at Barclays from $105.00 to $101.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 12.61% from the stock’s current price.

Several other equities analysts also recently weighed in on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial lifted their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Scotiabank decreased their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Citigroup assumed coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Down 2.4 %

Shares of NYSE:OKE opened at $89.69 on Friday. ONEOK has a 12-month low of $76.23 and a 12-month high of $118.07. The stock has a market capitalization of $56.00 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 3.77 and a beta of 1.70. The stock has a fifty day simple moving average of $100.22 and a two-hundred day simple moving average of $99.28. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. On average, research analysts anticipate that ONEOK will post 5.07 earnings per share for the current fiscal year.

Institutional Trading of ONEOK

A number of large investors have recently added to or reduced their stakes in OKE. QRG Capital Management Inc. raised its stake in ONEOK by 6.5% during the third quarter. QRG Capital Management Inc. now owns 5,936 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 364 shares in the last quarter. Graypoint LLC increased its holdings in shares of ONEOK by 15.3% in the 3rd quarter. Graypoint LLC now owns 6,433 shares of the utilities provider’s stock worth $586,000 after buying an additional 853 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of ONEOK by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider’s stock valued at $64,731,000 after buying an additional 24,193 shares in the last quarter. Heronetta Management L.P. lifted its holdings in shares of ONEOK by 0.8% in the 3rd quarter. Heronetta Management L.P. now owns 158,252 shares of the utilities provider’s stock valued at $14,422,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after acquiring an additional 5,175 shares during the last quarter. 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.