Oneok Inc. (OKE) Upgraded by Deutsche Bank AG to “Hold”
Oneok Inc. (NYSE:OKE) was upgraded by analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued on Monday, The Fly reports.
Other equities analysts also recently issued research reports about the company. Citigroup Inc. boosted their target price on Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 17th. Zacks Investment Research upgraded Oneok from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, July 26th. Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $48.00 to $50.00 in a research note on Tuesday, October 4th. They noted that the move was a valuation call. Jefferies Group upped their price objective on Oneok from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Monday, July 25th. Finally, Argus downgraded Oneok from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Oneok currently has an average rating of “Hold” and an average target price of $38.93.
Oneok (NYSE:OKE) opened at 49.36 on Monday. The firm’s 50-day moving average price is $48.60 and its 200-day moving average price is $43.00. Oneok has a 1-year low of $18.84 and a 1-year high of $51.72. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 37.54 and a beta of 1.10.
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Oneok (NYSE:OKE) last announced its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same period in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that Oneok will post $1.72 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its position in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock valued at $982,554,000 after buying an additional 1,401,380 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Oneok by 1,143.8% in the second quarter. Riverhead Capital Management LLC now owns 962,591 shares of the company’s stock worth $8,490,000 after buying an additional 885,199 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock worth $191,625,000 after buying an additional 724,684 shares in the last quarter. Sasco Capital Inc. CT boosted its position in Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock worth $169,317,000 after buying an additional 711,734 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Oneok by 6.2% in the second quarter. BlackRock Fund Advisors now owns 11,605,034 shares of the company’s stock worth $550,659,000 after buying an additional 677,055 shares in the last quarter. 72.28% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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