Citigroup Begins Coverage on ONEOK (NYSE:OKE)

Investment analysts at Citigroup assumed coverage on shares of ONEOK (NYSE:OKE) in a report released on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $110.00 price target on the utilities provider’s stock. Citigroup’s price target would indicate a potential upside of 9.68% from the company’s previous close.

A number of other equities research analysts also recently commented on OKE. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. UBS Group raised their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wolfe Research raised shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. 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 target price on the stock. Finally, Wells Fargo & Company decreased their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.15.

ONEOK Stock Performance

Shares of NYSE OKE opened at $100.29 on Friday. The company has a market cap of $62.62 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. ONEOK has a 12 month low of $74.39 and a 12 month high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a 50-day simple moving average of $100.91 and a 200-day simple moving average of $99.19.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts anticipate that ONEOK will post 5.07 earnings per share for the current year.

Institutional Trading of ONEOK

A number of hedge funds have recently made changes to their positions in the company. Total Wealth Planning & Management Inc. purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $213,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $61,240,000. Employees Retirement System of Texas purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $3,014,000. Jefferies Financial Group Inc. purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $1,107,000. Finally, LifeWealth Investments LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $348,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

About ONEOK

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.