ONEOK’s Hold Rating Reaffirmed at Zacks (OKE)
ONEOK (NYSE:OKE)‘s stock had its “hold” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $56.00 price objective on the stock. Zacks‘ price target points to a potential upside of 5.01% from the stock’s previous close.
ONEOK (NYSE:OKE) traded down 0.02% on Wednesday, hitting $53.32. 867,061 shares of the company’s stock traded hands. ONEOK has a one year low of $39.39 and a one year high of $55.49. The stock’s 50-day moving average is $51.91 and its 200-day moving average is $47.91. The company has a market cap of $10.995 billion and a price-to-earnings ratio of 38.62.
ONEOK (NYSE:OKE) last released its earnings data on Tuesday, July 30th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.06. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, analysts predict that ONEOK will post $1.79 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of ONEOK (NYSE:OKE) from $57.00 to $62.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of ONEOK (NYSE:OKE) in a research note to investors on Wednesday, September 4th. They set a “hold” rating and a $56.00 price target on the stock. Finally, analysts at ISI Group initiated coverage on shares of ONEOK (NYSE:OKE) in a research note to investors on Monday, July 29th. They set a “buy” rating on the stock.
One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. ONEOK currently has a consensus rating of “Hold” and an average target price of $56.25.
ONEOK, Inc, is a diversified energy company. The Company’s segments include ONEOK Partners, Natural Gas Distribution and Energy Services.
To view Zacks’ full report, visit www.zacks.com
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