ONEOK (OKE) Upgraded to Outperform by Wells Fargo & Co

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.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. equities analysts forecast that ONEOK will post 1.77 EPS for the current year.

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.

COPYRIGHT VIOLATION WARNING: “ONEOK (OKE) Upgraded to Outperform by Wells Fargo & Co” was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.com-unik.info/2018/01/15/oneok-oke-upgraded-to-outperform-by-wells-fargo-co.html.

About ONEOK

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.

Analyst Recommendations for ONEOK (NYSE:OKE)

Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit