ONEOK (OKE) Stock Rating Upgraded by Jefferies Group

ONEOK (NYSE:OKE) was upgraded by stock analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 price objective on shares of ONEOK in a research note on Tuesday, January 16th. UBS reaffirmed a “buy” rating and set a $72.00 price objective (up previously from $70.00) on shares of ONEOK in a research note on Friday, March 2nd. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, March 14th. TheStreet downgraded ONEOK from a “b” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Robert W. Baird set a $55.00 price objective on ONEOK and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.29.

How to Become a New Pot Stock Millionaire

Shares of ONEOK (NYSE OKE) opened at $56.47 on Tuesday. The company has a market capitalization of $23,738.76, a price-to-earnings ratio of 42.46, a P/E/G ratio of 2.92 and a beta of 1.26. ONEOK has a 12 month low of $47.14 and a 12 month high of $61.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.50 and a current ratio of 0.66.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $4.10 billion. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. During the same quarter last year, the business posted $0.43 EPS. analysts expect that ONEOK will post 2.48 earnings per share for the current fiscal year.

In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following the completion of the transaction, the vice president now owns 31,244 shares in the company, valued at approximately $1,771,534.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its holdings in shares of ONEOK by 269.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after acquiring an additional 9,737,701 shares in the last quarter. Harvest Fund Advisors LLC bought a new position in shares of ONEOK in the 3rd quarter valued at about $414,256,000. Kayne Anderson Capital Advisors LP grew its holdings in shares of ONEOK by 184.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after acquiring an additional 6,148,494 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of ONEOK by 243.8% in the 4th quarter. Deutsche Bank AG now owns 4,024,751 shares of the utilities provider’s stock valued at $215,116,000 after acquiring an additional 2,854,010 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of ONEOK by 481.9% in the 4th quarter. Millennium Management LLC now owns 2,804,636 shares of the utilities provider’s stock valued at $149,908,000 after acquiring an additional 2,322,618 shares in the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.com-unik.info/2018/03/20/oneok-oke-stock-rating-upgraded-by-jefferies-group.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