Oneok Inc. (NYSE:OKE) Receives Average Recommendation of “Hold” from Analysts
Oneok Inc. (NYSE:OKE) has been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.00.
Several research firms have recently weighed in on OKE. RBC Capital Markets reiterated a “sector perform” rating and issued a $46.00 price objective (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Royal Bank Of Canada upped their price objective on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 16th. Jefferies Group upped their price objective on Oneok from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, July 25th. Zacks Investment Research lowered Oneok from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Argus lowered Oneok from a “buy” rating to a “hold” rating in a research note on Friday, June 17th.
Shares of Oneok (NYSE:OKE) traded up 0.15% during midday trading on Tuesday, hitting $47.46. The stock had a trading volume of 926,280 shares. Oneok has a 52 week low of $18.84 and a 52 week high of $51.13. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 37.46 and a beta of 1.11. The stock has a 50 day moving average price of $47.12 and a 200-day moving average price of $41.04.
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Oneok (NYSE:OKE) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same period in the prior year, the business earned $0.36 earnings per share. Equities research analysts anticipate that Oneok will post $1.79 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its position in Oneok by 38.9% in the first quarter. BlackRock Fund Advisors now owns 10,927,979 shares of the company’s stock worth $326,309,000 after buying an additional 3,062,297 shares during the period. Norges Bank bought a new position in Oneok during the fourth quarter worth $35,309,000. Vanguard Group Inc. increased its position in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock worth $982,554,000 after buying an additional 1,401,380 shares during the period. Riverhead Capital Management LLC increased its position in Oneok by 1,143.8% in the second quarter. Riverhead Capital Management LLC now owns 962,591 shares of the company’s stock worth $8,490,000 after buying an additional 885,199 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock worth $191,625,000 after buying an additional 724,684 shares during the period. 72.31% of the stock is currently owned by institutional investors.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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