Scotiabank Lowers ONEOK (NYSE:OKE) Price Target to $102.00

ONEOK (NYSE:OKE) had its target price dropped by research analysts at Scotiabank from $109.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective points to a potential upside of 13.85% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Monday, February 10th. UBS Group lifted their price target on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Seven research 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 company’s stock. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Stock Down 0.2 %

Shares of NYSE OKE opened at $89.59 on Thursday. 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 has a 52 week low of $76.23 and a 52 week high of $118.07. The firm has a 50-day moving average price of $100.00 and a 200 day moving average price of $99.29. The stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its earnings results 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. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts anticipate that ONEOK will post 5.07 EPS for the current fiscal year.

Institutional Investors Weigh In On ONEOK

A number of institutional investors have recently bought and sold shares of the stock. Kieckhefer Group LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $30,000. Greenline Partners LLC acquired a new position in ONEOK during the fourth quarter valued at approximately $32,000. Access Investment Management LLC acquired a new position in ONEOK during the third quarter valued at approximately $37,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK during the fourth quarter valued at approximately $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in ONEOK during the fourth quarter valued at approximately $39,000. 69.13% of the stock is currently owned by hedge funds and other 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.