Investors purchased shares of ONEOK, Inc. (NYSE:OKE) on weakness during trading on Friday. $161.67 million flowed into the stock on the tick-up and $47.02 million flowed out of the stock on the tick-down, for a money net flow of $114.65 million into the stock. Of all equities tracked, ONEOK had the 26th highest net in-flow for the day. ONEOK traded down ($0.27) for the day and closed at $66.85
OKE has been the subject of several analyst reports. Mizuho set a $73.00 price target on shares of ONEOK and gave the stock a “hold” rating in a report on Tuesday, February 26th. UBS Group cut shares of ONEOK from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a report on Tuesday, February 26th. Evercore ISI initiated coverage on shares of ONEOK in a report on Tuesday, February 5th. They set a $68.00 price target for the company. SunTrust Banks initiated coverage on shares of ONEOK in a report on Friday, January 18th. They set a “buy” rating and a $72.00 price target for the company. Finally, US Capital Advisors reiterated a “buy” rating on shares of ONEOK in a report on Wednesday, January 16th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.11.
The company has a current ratio of 0.66, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market cap of $27.52 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.97 and a beta of 1.22.
Several institutional investors have recently modified their holdings of the company. Jackson Hole Capital Partners LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $486,000. Fulcrum Equity Management acquired a new position in shares of ONEOK in the 4th quarter valued at $2,350,000. Norges Bank acquired a new position in shares of ONEOK in the 4th quarter valued at $209,832,000. Griffin Asset Management Inc. boosted its holdings in shares of ONEOK by 1.4% in the 4th quarter. Griffin Asset Management Inc. now owns 21,735 shares of the utilities provider’s stock valued at $1,173,000 after buying an additional 310 shares in the last quarter. Finally, Aspire Private Capital LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 74.84% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Traders Buy ONEOK (OKE) on Weakness” was originally published by Week Herald and is owned by of Week Herald. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://weekherald.com/2019/03/17/traders-buy-oneok-oke-on-weakness.html.
ONEOK Company Profile (NYSE:OKE)
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
Further Reading: Why is cost of goods sold important?
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.