ONEOK (NYSE:OKE) PT Raised to $88.00

ONEOK (NYSE:OKE) had its price target increased by stock analysts at Stifel Nicolaus from $81.00 to $88.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 13.29% from the stock’s current price.

Several other equities research analysts have also commented on OKE. UBS Group boosted their price objective on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Raymond James upped their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Citigroup upped their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $82.25.

ONEOK Trading Up 0.8 %

Shares of OKE opened at $77.68 on Tuesday. The firm’s 50-day moving average price is $76.35 and its 200-day moving average price is $70.86. The firm has a market capitalization of $45.34 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.24 and a beta of 1.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK has a 1-year low of $55.91 and a 1-year high of $80.81.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the firm posted $1.08 EPS. Sell-side analysts anticipate that ONEOK will post 4.98 EPS for the current year.

ONEOK declared that its board has authorized a stock repurchase plan on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, with a total value of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC increased its holdings in ONEOK by 22.9% during the first quarter. MCF Advisors LLC now owns 2,284 shares of the utilities provider’s stock valued at $183,000 after buying an additional 425 shares during the last quarter. First Dallas Securities Inc. increased its stake in shares of ONEOK by 0.7% in the first quarter. First Dallas Securities Inc. now owns 65,272 shares of the utilities provider’s stock worth $5,233,000 after purchasing an additional 481 shares in the last quarter. Firethorn Wealth Partners LLC purchased a new stake in shares of ONEOK in the first quarter worth $224,000. Register Financial Advisors LLC purchased a new stake in shares of ONEOK in the first quarter worth $229,000. Finally, Stokes Capital Advisors LLC increased its stake in shares of ONEOK by 5.8% in the first quarter. Stokes Capital Advisors LLC now owns 5,491 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 301 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

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.