ONEOK’s (OKE) Hold Rating Reiterated at Stifel Nicolaus

ONEOK, Inc. (NYSE:OKE)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a report released on Friday, November 3rd. They presently have a $55.00 price target on the utilities provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 7.99% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the company a “buy” rating in a research note on Wednesday, October 18th. Argus restated a “buy” rating and set a $59.00 price target (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG upped their target price on shares of ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays PLC started coverage on shares of ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.07.

Shares of ONEOK (NYSE:OKE) opened at $50.93 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market cap of $20,019.23, a PE ratio of 32.63, a PEG ratio of 3.77 and a beta of 1.29. ONEOK has a 52-week low of $47.14 and a 52-week high of $59.47.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same quarter last year, the firm posted $0.43 earnings per share. research analysts anticipate that ONEOK will post 1.73 EPS for the current year.

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Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in ONEOK by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock valued at $47,603,000 after acquiring an additional 13,443 shares during the last quarter. Cipher Capital LP boosted its stake in shares of ONEOK by 166.9% during the second quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock valued at $2,938,000 after purchasing an additional 35,228 shares during the period. Crawford Investment Counsel Inc. boosted its stake in shares of ONEOK by 61.2% during the second quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock valued at $2,120,000 after purchasing an additional 15,427 shares during the period. Wells Fargo & Company MN boosted its stake in shares of ONEOK by 42.7% during the second quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after purchasing an additional 302,407 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of ONEOK during the second quarter valued at $2,358,000. Institutional investors and hedge funds own 53.22% of the company’s stock.

ONEOK Company Profile

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)

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