ONEOK (NYSE:OKE) Stock Price Expected to Rise, Truist Financial Analyst Says

ONEOK (NYSE:OKE) had its price objective increased by stock analysts at Truist Financial from $99.00 to $107.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Truist Financial’s price target suggests a potential downside of 1.60% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup upped their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Price Performance

Shares of NYSE OKE opened at $108.74 on Tuesday. The firm has a market cap of $63.52 billion, a PE ratio of 22.75, a PEG ratio of 5.59 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 1-year low of $65.49 and a 1-year high of $118.07. The company has a fifty day moving average price of $101.64 and a 200 day moving average price of $90.65.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the previous year, the company posted $0.99 earnings per share. Research analysts predict that ONEOK will post 5.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OKE. International Assets Investment Management LLC raised its holdings in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in ONEOK in the 3rd quarter valued at about $47,957,000. Bahl & Gaynor Inc. raised its holdings in ONEOK by 3,648.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 514,954 shares of the utilities provider’s stock valued at $41,995,000 after acquiring an additional 501,216 shares during the period. Finally, Yaupon Capital Management LP bought a new position in ONEOK in the 3rd quarter valued at about $45,194,000. 69.13% of the stock is owned by institutional investors.

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.