ONEOK (NYSE:OKE) Coverage Initiated at Scotiabank

Equities researchers at Scotiabank initiated coverage on shares of ONEOK (NYSE:OKE) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “sector outperform” rating and a $109.00 price target on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential upside of 7.03% from the company’s current price.

A number of other equities analysts also recently issued reports on OKE. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, December 18th. 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. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays boosted their price objective on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Stock Down 1.0 %

ONEOK stock opened at $101.84 on Friday. The firm has a market cap of $59.49 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 5.24 and a beta of 1.70. ONEOK has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a 50 day moving average price of $105.63 and a two-hundred day moving average price of $94.85.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the business earned $0.99 EPS. Equities analysts predict that ONEOK will post 5.1 EPS for the current year.

Hedge Funds Weigh In On ONEOK

Hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. raised its holdings in ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. Claro Advisors LLC raised its holdings in ONEOK by 1.6% in the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 115 shares in the last quarter. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 117 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in ONEOK by 0.9% in the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after purchasing an additional 122 shares in the last quarter. 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.