ONEOK (NYSE:OKE) was upgraded by equities research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports.
OKE has been the subject of a number of other reports. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research note on Tuesday, October 17th. Credit Suisse Group initiated coverage on shares of ONEOK in a research note on Monday, January 8th. They set an “outperform” rating and a $62.00 price target for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price target on shares of ONEOK in a research note on Thursday, October 12th. BMO Capital Markets set a $62.00 price target on shares of ONEOK and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Mizuho initiated coverage on shares of ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.14.
ONEOK (OKE) traded up $0.31 during trading on Thursday, hitting $58.67. ONEOK has a 1 year low of $47.14 and a 1 year high of $59.30. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market cap of $22,500.00, a price-to-earnings ratio of 36.67, a PEG ratio of 2.22 and a beta of 1.26.
In related news, Director Brian L. Derksen acquired 1,800 shares of the stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in OKE. Pacer Advisors Inc. boosted its position in ONEOK by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 4,232 shares of the utilities provider’s stock valued at $221,000 after buying an additional 319 shares during the period. JPMorgan Chase & Co. boosted its position in ONEOK by 27.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 260,577 shares of the utilities provider’s stock valued at $13,590,000 after buying an additional 56,231 shares during the period. Wells Fargo & Company MN boosted its position in ONEOK by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after buying an additional 302,407 shares during the period. Alliancebernstein L.P. boosted its position in ONEOK by 56.3% in the 2nd quarter. Alliancebernstein L.P. now owns 604,355 shares of the utilities provider’s stock valued at $31,523,000 after buying an additional 217,657 shares during the period. Finally, Stephens Inc. AR boosted its position in ONEOK by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock valued at $805,000 after buying an additional 58 shares during the period. 69.94% of the stock is owned by institutional investors.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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