ONEOK Rating Increased to Buy at Jefferies Group (OKE)
ONEOK (NYSE:OKE) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $62.00 price objective on the stock, up from their previous price objective of $56.00. Jefferies Group’s price target would indicate a potential upside of 18.01% from the company’s current price.
Shares of ONEOK (NYSE:OKE) traded up 4.34% on Thursday, hitting $54.82. 1,367,810 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 has a 50-day moving average of $52.37 and a 200-day moving average of $48.48. The company has a market cap of $11.304 billion and a P/E ratio of 38.04. ONEOK also saw unusually large options trading on Monday. Stock investors bought 18,091 call options on the company. This represents an increase of approximately 1,446% compared to the average volume of 1,170 call options.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.06. During the same quarter last year, the company posted $0.29 earnings per share. On average, analysts predict that ONEOK will post $1.81 earnings per share for the current fiscal year.
OKE has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “hold” rating on shares of ONEOK in a research note to investors on Wednesday, September 25th. They now have a $56.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of ONEOK from $57.00 to $62.00 in a research note to investors on Wednesday, September 25th. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $57.00.
ONEOK, Inc, is a diversified energy company. The Company’s segments include ONEOK Partners, Natural Gas Distribution and Energy Services.
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