ONEOK (NYSE:OKE) Price Target Raised to $133.00

ONEOK (NYSE:OKE) had its price objective upped by equities research analysts at Morgan Stanley from $111.00 to $133.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 29.96% from the company’s current price.

A number of other research analysts also recently weighed in on OKE. Wells Fargo & Company reduced their target price on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Truist Financial upped their price target on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Finally, Scotiabank cut their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

ONEOK Stock Up 3.0 %

Shares of NYSE:OKE opened at $102.34 on Tuesday. The business’s 50 day moving average is $98.91 and its 200 day moving average is $99.99. ONEOK has a 12-month low of $76.23 and a 12-month high of $118.07. The stock has a market cap of $63.89 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.77 and a beta of 1.70. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

Institutional Investors Weigh In On ONEOK

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in ONEOK by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider’s stock valued at $7,040,075,000 after purchasing an additional 558,789 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after buying an additional 934,007 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ONEOK by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider’s stock worth $1,405,697,000 after purchasing an additional 357,015 shares during the period. Northern Trust Corp increased its stake in shares of ONEOK by 15.2% during the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider’s stock valued at $656,200,000 after buying an additional 864,392 shares during the period. Finally, Norges Bank purchased a new position in ONEOK during the 4th quarter valued at $539,554,000. 69.13% of the stock is currently owned by institutional investors.

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.