Barclays Begins Coverage on ONEOK (NYSE:OKE)

Research analysts at Barclays started coverage on shares of ONEOK (NYSE:OKE) in a research note issued on Thursday, MarketBeat.com reports. The firm set an “equal weight” rating and a $105.00 price target on the utilities provider’s stock. Barclays‘s price target would indicate a potential upside of 9.66% from the company’s previous close.

A number of other equities analysts also recently commented on OKE. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Bank of America initiated coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group raised their price target on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.42.

ONEOK Stock Down 0.1 %

Shares of NYSE:OKE opened at $95.75 on Thursday. ONEOK has a 12-month low of $68.21 and a 12-month high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market cap of $55.94 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70. The company has a fifty day simple moving average of $103.28 and a 200 day simple moving average of $97.41.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of ONEOK by 9,439.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ONEOK during the fourth quarter worth approximately $182,694,000. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock worth $1,848,844,000 after purchasing an additional 934,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the 3rd quarter worth about $47,957,000. Finally, National Pension Service grew its stake in shares of ONEOK by 65.3% during the fourth quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after purchasing an additional 498,908 shares during the last quarter. Institutional investors and hedge funds 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.