ONEOK (NYSE:OKE) Stock Rating Upgraded by Wolfe Research

ONEOK (NYSE:OKE) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $110.00 price target on the utilities provider’s stock. Wolfe Research’s price target would suggest a potential upside of 11.13% from the company’s previous close.

Other research analysts also recently issued reports about the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Finally, UBS Group lifted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

OKE opened at $98.98 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $102.68 and its 200 day moving average price is $97.82. ONEOK has a fifty-two week low of $68.65 and a fifty-two week high of $118.07. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.67 and a beta of 1.70.

Institutional Investors Weigh In On ONEOK

Several institutional investors have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of ONEOK by 219.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,315 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 2,965 shares in the last quarter. Ritholtz Wealth Management acquired a new position in ONEOK during the third quarter valued at approximately $206,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of ONEOK by 28.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,233 shares of the utilities provider’s stock worth $751,000 after buying an additional 1,826 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of ONEOK during the 3rd quarter worth $106,000. Finally, Oxler Private Wealth LLC grew its stake in ONEOK by 1.2% in the 3rd quarter. Oxler Private Wealth LLC now owns 46,729 shares of the utilities provider’s stock valued at $4,258,000 after buying an additional 537 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

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.