Barclays Raises ONEOK (NYSE:OKE) Price Target to $94.00

ONEOK (NYSE:OKE) had its price target upped by analysts at Barclays from $82.00 to $94.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 1.10% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company raised their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Citigroup raised their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.38.

ONEOK Price Performance

NYSE:OKE traded up $1.61 during trading hours on Monday, hitting $92.98. 126,034 shares of the company’s stock traded hands, compared to its average volume of 2,753,201. The firm has a market cap of $54.27 billion, a P/E ratio of 21.62, a P/E/G ratio of 4.47 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $86.12 and its two-hundred day simple moving average is $81.87. ONEOK has a 52 week low of $60.58 and a 52 week high of $93.57.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the firm posted $1.04 EPS. On average, research analysts anticipate that ONEOK will post 5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKE. Rise Advisors LLC purchased a new stake in ONEOK in the first quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK in the 1st quarter worth $26,000. Quest Partners LLC purchased a new stake in ONEOK during the 2nd quarter valued at about $28,000. Ridgewood Investments LLC acquired a new position in shares of ONEOK in the second quarter valued at about $31,000. Finally, American National Bank acquired a new stake in shares of ONEOK during the first quarter worth about $32,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

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.