JPMorgan Chase & Co. Boosts ONEOK (OKE) Price Target to $62.00

ONEOK (NYSE:OKE) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a report issued on Monday, February 12th. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 6.29% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Mizuho reiterated a “hold” rating and set a $61.00 price objective on shares of ONEOK in a report on Tuesday, January 23rd. Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $58.00 to $67.00 in a report on Wednesday, January 17th. BMO Capital Markets restated a “buy” rating and set a $64.00 price target on shares of ONEOK in a report on Tuesday, January 16th. Royal Bank of Canada raised shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co raised shares of ONEOK from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.15.

ONEOK (NYSE:OKE) traded up $1.15 on Monday, reaching $58.33. 699,662 shares of the company’s stock traded hands, compared to its average volume of 3,203,690. ONEOK has a 12-month low of $47.14 and a 12-month high of $61.36. 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 capitalization of $23,490.00, a P/E ratio of 35.99, a P/E/G ratio of 1.74 and a beta of 1.26.

Several institutional investors have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. grew its position in ONEOK by 462.9% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,620 shares during the last quarter. Mercer Capital Advisers Inc. boosted its holdings in shares of ONEOK by 229.8% during the 3rd quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,379 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of ONEOK by 332.8% during the 3rd quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,744 shares during the last quarter. Delpha Capital Management LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at about $134,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of ONEOK by 562.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 2,322 shares during the last quarter. Institutional investors own 66.24% of the company’s stock.

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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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